APHC010038722026 IN THE HIGH COURT OF ANDHRA PRADESH AT AMARAVATI (Special Original Jurisdiction) [3558] WEDNESDAY, THE TWENTY EIGHTH DAY OF JANUARY TWO THOUSAND AND TWENTY SIX PRESENT THE HONOURABLE SRI JUSTICE CHEEKATI MANAVENDRANATH ROY AND THE HONOURABLE SRI JUSTICE TUHIN KUMAR GEDELA WRIT PETITION No.2299 of 2026 Between: 1. M/S.HAIGREEVA INFRATECH PROJECTS LIMITED, OFFICE D.NO.1-54-5/8, PLOT NO. MIG 28 & 29, SWETHAYATHNA RESIDENCY, SECTION-1, MVP COLONY, VISAKHAPATNAM REP BY ITS MD CHILUKURI JAGADEESWARUDU. ...PETITIONER AND 1. THE DEBT RECOVERY TRIBUNAL, VISAKHAPATNAM, VISAKHAPATNAM DISTRICT-530020. REP. BY ITS REGISTRAR. 2. THE KARUR VYSYA BANK LIMITED, CORPORATE BUSINESS UNIT, LABBIPET, VIJAYAWADA, NTR DISTRICT, REP. BY ITS AUTHORIZED OFFICER. ...RESPONDENT(S): Counsel for the Petitioner: 1. P NAGENDRA REDDY Counsel for the Respondent(S): 1. The Court made the following: 2 CMR, J & GTK, J W.P.No.2299 of 2026 THE HON’BLE SRI JUSTICE CHEEKATI MANAVENDRANATH ROY AND THE HON’BLE SRI JUSTICE TUHIN KUMAR GEDELA WRIT PETITION No.2299 of 2026 O R D E R: (Per Hon’ble Sri Justice Cheekati Manavendranath Roy) Heard learned counsel for the petitioner. 2. The petitioner is the principal borrower. In view of the default committed by it in repayment of the loan amount, the 2nd respondent- bank has initiated measures under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short, 8the SARFAESI Act9) to sell the secured asset in the e-auction for recovery of the loan amount due from the petitioner. 3. Challenging the said measures initiated by the bank, the petitioner has already approached the Debts Recovery Tribunal, which is the appropriate forum constituted under the SARFAESI Act with special mechanism, by way of filing S.A.No.509 of 2023 and also stay application in I.A.No.327 of 2026. Alleging that the said stay application is not being taken up for disposal even though the e-auction is scheduled to be held today, the petitioner has approached this Court seeking stay of further proceedings pursuant to the e-auction notice dated 30.12.2025 pending disposal of the said stay application on the file of the Debts Recovery Tribunal. 4. As the petitioner has already approached the appropriate forum for redressal of its grievance, we are not inclined to interfere in the matter and to entertain this writ petition, permitting the petitioner to maintain parallel proceedings before this Court and the Debts Recovery Tribunal, which is not permissible under law. 3 CMR, J & GTK, J W.P.No.2299 of 2026 5. Therefore, the writ petition is disposed of with a direction to the petitioner to pursue its remedy before the Debts Recovery Tribunal, where the Securitisation Application filed by it is pending adjudication. As a sequel, interlocutory applications, if any pending, in this case shall stand closed. There shall be no order as to costs. ________________________________________ JUSTICE CHEEKATI MANAVENDRANATH ROY ______________________________________ JUSTICE TUHIN KUMAR GEDELA Date: 28.01.2026 IBL 4 CMR, J & GTK, J W.P.No.2299 of 2026 THE HONOURABLE SRI JUSTICE CHEEKATI MANAVENDRANATH ROY AND THE HONOURABLE SRI JUSTICE TUHIN KUMAR GEDELA WRIT PETITION No.2299 of 2026 Dt: 28.01.2026 IBL