SA 187/13 (10.30. A.M.) 30/3/2015 Orders pronounced. IA 441/15: This petition has been filed by the petitioner /applicant to stay all further proceedings in pursuance to the sale notice dated 26.2.2015 and the e.auction sale which is fixed on 30.3.2015. The petitioners have challenged the impugned sale notice on the ground that the property in question has been undervalued and the auction sale notice has not been published in vernacular language and the EMD amount is less than 10% of the principal amount. Apart from this, several other grounds have been raised in this application. According to the petitioner, he could not mobilize funds to comply with the earlier conditional order passed by this Tribunal. It is yet another ground by which the impugned auction sale notice is challenged is that 30 days clear notice has not been given to the petitioner prior to the auction, which is a violation of R.8(6) of the Security Interest (Enforcement) Rules, 2002. It is the further contention of the Petitioner that the R/Bank in collusion with real estate brokers, are attempting to sell the valuable property for a throwaway price. It is on these grounds, the petitioner is seeking stay of all further proceedings based upon the e.auction sale notice dated 26.2.2015. The R/Bank while narrating all the previous proceedings and the dismissal of the previous petitions and non-compliance of the orders passed by this Tribunal, pleaded that the petitioner in collusion with real estate brokers are trying to drag on the proceedings endlessly without making any payment which are due from 2013 onwards. It is an admitted fact that the conditional order in IA 90/14 and IA 1474/14 were not complied with and therefore, there is no bona fides on the claims of the petitioners. The Petitioner pleaded that the leave has been sought from this Tribunal to sell the other properties in IAs 16/15 and 17/15 and this Tribunal, having heard the matter ultimately dismissed the petitions and as against the dismissal order an appeal has been preferred before the Hon’ble DRAT in MA 117/15, 118/15 and MA 119/15 has also been filed against the dismissal order passed in IA 127/15. Admittedly, the proceedings are pending. This Tribunal in its order in IA 437/15 in SA 53/15, has granted temporary injunction till the disposal of the said SA on 27.3.2015. The description of the immovable property found in the impugned auction sale notice is mentioned as Item No.1 in the schedule property in IA 437/15 in SA 53/15. Therefore, the stay granted in IA 437/15 covered the properties mentioned in the impugned sale notice in this proceedings also. Therefore, under the said circumstances, no order of stay is required to be passed in this petition, since Item No.1 in the petition mentioned properties in IA 437/15 and the properties mentioned in the schedule of immovable property in the impugned auction sale notice are one and the same. Hence, this petition has to be dismissed. Accordingly, this petition is dismissed. No costs. Call on 8.5.2015. C/w. SA 53/15 also by then. PO