Authority: High Court of Judicature at Bombay, Civil Appellate Jurisdiction

Order Date: 15 October 2026

Case Overview

  • Petitioner: Ms. Celina Prasad, represented by counsel Mr. Neeraj Pandey and Ms. Heena Maniyar.
  • Respondent: Indian Overseas Bank, represented by Mr. Rajesh Dubey and Mr. Sumit Chauhan.
  • Petition (Writ Petition No. 14410 of 2025) challenged an auction notice dated 10 June 2025 issued by the bank for sale of a secured asset under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, alleging that the original borrower had fraudulently listed the petitioner as guarantor.
  • The Court observed that the appropriate remedy is the statutory route under Section 17 of the Securitisation Act, citing Supreme Court judgments (United Bank of India vs. Satyawati Tondon, 2010; Celir LLP vs. Bafna Motors (Mumbai) Private Limited, 2024).
  • The Court was informed that the auction scheduled under the impugned notice attracted no bidders and that a subsequent auction notice led to the sale of the property on 29 June 2026, rendering the writ petition moot.

Final Outcome

  • The writ petition is dismissed as infructuous.
  • Any pending applications, if any, are also disposed of.

Topics: Banking, Auction, Legal Dispute