WP/924/2026 of SREENIDHI STEELS Vs UNION OF INDIA on 7 January 2026

1. SREENIDHI STEEL PUTLUR LAKSHMI R/O D.NO. 3-162A VILLA NO.12 1-12 HIGH WAY ANANT

1. UNION OF INDIA, M (DEPARTMENT OF REPRESENTED BY BUILDING, SANSA

2. RESERVE BANK O DEPARTMENT OF OFFICE, 12THFLO MUMBAI, MAHARA

3. AXIS BANK, HEAD OFFICE AT T SAMARTHESWAR AHMADABAD, GUJ

4. AXIS BANKS CO HOUSE, IS LOCA E HIGH COURT OF ANDHRA PRAD AT AMARAVATI (Special Original Jurisdiction) AY, THE EIGHTH DAY OF JANUARY O THOUSAND AND TWENTY SIX PRESENT RI JUSTICE CHEEKATI MANAVEND BLE SRI JUSTICE TUHIN KUMAR G WRIT PETITION NO: 924/2026 LS, REPRESENTED BY ITS MANAG IKANTH REDDY S/O P. KULLAY RE A PEDDAVADUGUR, NOW RESID 273-A-12, OPPOSITE TO TATA MO APURAMU, ANANTAPURAMU DIST AND MINISTRY OF FINANCE AND COMP F ECONOMIC AFFAIRS) (BANKIN Y ITS SECRETARY, 3RD FLOOR, J ADMARG, NEW DELHI-110001 OF INDIA, REPRESENTED BY ITS BANKING REGULATION, OFFICE OOR, SHAHID BHAGAT SINGH M ASHTRA - 400001. D OFFICE BY ITS AUTHORIZED OF TRISHUL, 3RD FLOOR. OP TEMPLE, NEAR LAW GARDEN, E JARAT PIN 380006 ORPORATE HEAD OFFICE, KNOW ATED AT C-2 PANDURANG BUD DESH

Y DRANATH ROY GEDELA ING PARTNER EDDY, HINDU, ING AT D.NO OTORS NEAR RICT. ...PETITIONER PANY AFFAIRS NG DIVISION), JEEVAN DEEP SECRETARY, AT CENTRAL MARG, FORT, FFICER REGD, POSITE TO ELLIS BRIDGE, WN AS AXIS HKAR MARG,

WORLI, MUMBAI - 400025

5. AXIS BANK LTD, 3RD FLOOR, GIGAPLEX, NPC - 1, TTC INDUSTRIAL AREA, MUGALSAN ROAD, AIROLI, NAVI MUMBAI -400

708.

6. AXIS BANK BY BRANCH MANAGER, MAIN BRANCH, NEAR SAPTHAGIRI CIRCLE AXIS BANK LTD, ANANTAPURAMU DISTRICT PIN-515001.

7. AXIS BANK LTD, AREA CREDIT OFFICER ERRIP. CODE. 511584, ADDRESS 40/581 S.V COMPLEX R.S ROAD, KURNOOL DISTRICT, PIN- 518004.

8. AXIS BANK LEGAL MANAGER AND AUTHORIZED OFFICER, SRI VARAGANTI SAI KUMAR, BRANCH OFFICE AT SPSR NELLORE. ...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 to issue a Writ of Mandamus or any other appropriate writ, order or direction, declaring the action of the respondents No.3 to 8 in issuing and publishing the E-auction notice dated 13-12-2025 in Eenadu newspaper and proposing to conduct auction on 13-01-2026 without disclosing the registered mortgage dated 01-10-2024 bearing Doc. No.-14902/2024 In favour of the petitioner as illegal, arbitrary, unconstitutional and void, and consequently restrain the respondents from proceeding with the auction of the schedule property without disclosing the petitioner's registered mortgage, and stay all further proceedings pursuant to the impugned E-auction notice published in Eenadu newspaper, and pass 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 to direct the respondents no.3 to 8 bank to stop the e-auction, dated: 13.01.2026 of the property to extent an area of Ac.0.3.33 cents forming part of Plot Nos.222, 223, 224 and 225 bearing Door No.16-01-15 in Survey No.23/1B, situated at Anantapuramu District and pass

Counsel for the Petitioner:

1. NALLANI VAMSI KRISHNA Counsel for the Respondent(S):

1. The Court made the following: ORDER: (Per Hon’ble Sri Justice Cheekati Manavendranath Roy)

Heard learned counsel for the petitioner.

2. Challenging the E-auction notice dated 13.12.2025 issued by the respondent Nos.3 to 8-Axis Bank for sale of the secured asset for realization of the loan amount from the principal borrower, the instant writ petition has been filed by the petitioner on various grounds alleging that fraud has been played relating to the loan transaction.

3. The petitioner has got an efficacious remedy of approaching the Debts Recovery Tribunal, which is an appropriate forum constituted under the Act with special mechanism to deal with such matters and for redressal of grievances relating to the said transaction. But, without approaching the Tribunal, the petitioner has approached this Court, invoking its extraordinary jurisdiction under Article 226 of Constitution of India. The Apex Court has time and again deprecated the practice of the High Court entertaining the writ petitions without relegating the parties to the Tribunal, which is constituted under the Act with special mechanism for redressal of such grievances.

4. Therefore, in the said facts and circumstances, we are not inclined to interfere in the matter and to entertain the writ petition.

5. Learned counsel for the petitioner vehemently contended that a great deal of fraud has been played and as such this Court can entertain the writ petition.

6. We are unable to accede to the said contention. When fraud is played, it is a disputed question of fact which requires evidence to establish the same. Therefore, the matter has to be dealt with by the Tribunal, where the evidence is to be adduced during the course of trial of the matter before the Tribunal.

7. Therefore, the Writ Petition is disposed of with a direction to the petitioner to approach the Debts Recovery Tribunal concerned for redressal of its grievance. There shall be no order as to costs. As a sequel, Interlocutory Applications pending, if any, shall stand closed.

________________________________________ JUSTICE CHEEKATI MANAVENDRANATH ROY

_____________________________ JUSTICE TUHIN KUMAR GEDELA

Date: 08.01.2026 MDP