APHC010054222026 IN THE HIGH COURT OF ANDHRA PRADESH AT AMARAVATI (Special Original Jurisdiction) [3558] THURSDAY,THE FIFTH DAY OF FEBRUARY TWO THOUSAND AND TWENTY SIX PRESENT THE HONOURABLE SRI JUSTICE CHEEKATI MANAVENDRANATH ROY THE HONOURABLE SRI JUSTICE TUHIN KUMAR GEDELA WRIT PETITION NO: 3187/2026 Between: 1. TRUE WELL E PIPE INDUSTRIES,, S.NO.51/4, T.P. GUDUR MANDAL, MUNGALADORUVU VILLAGE, NELLORE - 524344, REP. BY ITS PROPRIETOR MR. MENTA VENKATA RAMAKRISHNA 2. MR. MENTA VENKATA RAMAKRISHNA, S/O. LATE NARASIMHA SWAMY, AGED ABOUT 48 YEARS, R/O. H.NO.3-436, LAKSHMIPURAM, BESIDES RACE RATNAM SCHOOL, NELLORE - 524002. 3. MENTA KAWITHA,, W/O. MENTA VENKATA RAMAKRISHNA, AGED ABOUT 46 YEARS, R/O. H.NO.3-436, LAKSHMIPURAM, BESIDES RACE RATNAM SCHOOL, NELLORE - 524002. 4. M/S. PUSHKAL TRADING COMPANY,, NO.93, SOUTH AMULURU VILLAGE, THOTAPALLI GUDUR MANDAL, NELLORE - 524002, REP. BY ITS PARTNER, MR. MENTA VENKATA RAMAKRISHNA ...PETITIONER(S) AND 1. HDFC BANK LTD, DEPT FOR SPECIAL OPERATIONS, H.NO.6-3-246 AND 6-3-244/A, 3RD FLOOR, ROXANA PALLADIUM, ROAD NO.1 BANJARA HILLS, HYDERABAD, REP. BY ITS AUTHORIZED OFFICER 2. HDFC BANK LTD, RAMALINGAPURAM BRANCH, NELLORE SPSR 2 CMR,J & GTK,J W.P.No.3187 of 2026 NELLORE DISTRICT, REP. BY ITS AUTHORIZED OFFICER. ...RESPONDENT(S): Petition under Article 226 of the Constitution of India praying that in the circumstances stated in the affidavit filed therewith, the High Court may be pleased topleased to issue a Writ of Mandamus declaring the action of the respondent authorities in issuing sale notice dt.06.01.2026 in proposing to conduct auction on 16.03.2026 of the five mortgaged properties by reducing the reserve price more than 50 percent of the earlier reserve prices with respect to item Nos. 3 and 4 mentioned in the auction notice dt.28.11.2022 as illegal, arbitrary, mala-fide and in violation of the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002 and Security Interest (Enforcement) Rules, 2002 and consequently direct the respondent bank not to proceed with the auction by setting aside the sale notice dt.06.01.2026, IA NO: 1 OF 2026 Petition under Section 151 CPC praying that in the circumstances stated in the affidavit filed in support of the petition, the High Court may be pleased pleased to stay of all further proceedings pursuant to sale notice dt.06.01.2026 including publication of sale notice on 07.02.2026, proposed auction on 16.03.2026, pending disposal of this writ petition Counsel for the Petitioner(S): 1. C SUBODH Counsel for the Respondent(S): 1. The Court made the following: 3 CMR,J & GTK,J W.P.No.3187 of 2026 ORDER: (Per Hon’ble Sri Justice Cheekati Manavendranath Roy) Heard learned counsel for the petitioners. 2. The petitioners are the principal borrowers and guarantors. The principal borrowers availed loan from the respondent-bank and the 2nd respondent stood as guarantor and offered his immovable property as security for repayment of the loan amount. As the principal borrowers committed default in repayment of the loan amount, the bank has initiated measures under the SARFAESI Act and sought to sell away the secured asset in the public auction for realization of the loan amount. Challenging the said measures initiated by the bank, the petitioners have already filed S.A.No.267 of 2022 on the file of the Debts Recovery Tribunal, Visakhapatnam, and the same is pending. In the original auction notice that was given, the bank has fixed the reserve price of the secured asset which is sought to be sold in the public auction. But again another sale notice is sought to be issued on 07.02.2026 reducing the reserve price. Therefore, the petitioners have filed Interlocutory Application No.275 of 2026 seeking amendment of the securitization application before the Tribunal. Alongside the said application, an Interlocutory Application No.276 of 2026 was filed seeking stay of the sale. 3. Now it is the grievance of the writ petitioner that even though there is an urgency to consider the said applications filed seeking amendment and seeking stay, as the auction notice is sought to be given on 07.02.2026 that the Tribunal has posted the matter to a distant date i.e., on 05.03.2026. Therefore, this present writ petition is filed challenging the said proposal to issue fresh auction notice and the proposed sale. 4. The proposed fresh auction notice to be issued on 07.02.2026 and the auction to be held on 16.03.2026 are sought to be challenged in this writ petition on the ground that the reserve price is reduced drastically in the proposed notification to be issued on 07.02.2026. 4 CMR,J & GTK,J W.P.No.3187 of 2026 5. However, as the petitioners have already approached the Tribunal, which is the appropriate forum constituted under the special enactment for redressal of the grievance with separate mechanism, and also amendment petition and stay petition were already filed and they are pending adjudication, we are not inclined to interfere in the matter and entertain the writ petition. 6. Therefore, the Writ Petition is disposed of with a direction to the petitioners to pursue their remedy before the Debts Recovery Tribunal, Visakhapatnam, where S.A.No.267 of 2022 and the aforesaid Interlocutory Applications are pending. The Debts Recovery Tribunal, Visakhapatnam, is directed to dispose of the Interlocutory Application Nos.275 of 2026 and 276 of 2026, seeking stay, within a period of fifteen (15) days from the date of this order. As the proposed notification to be issued on 07.02.2026 for sale of the secured asset is now questioned on the ground that the reserve price is drastically reduced without any basis, the respondents are directed to defer issuance of the said notice for a period of fifteen days, till the aforesaid Interlocutory Applications are disposed of by the Tribunal, as directed by this Court. 7. As a sequel, Miscellaneous Applications pending, if any, shall stand closed. ________________________________________ CHEEKATI MANAVENDRANATH ROY, J _______________________ TUHIN KUMAR GEDELA, J Date : 05-02-2026 Note: Issue CC tomorrow B/o BMS