M/S. Hardens Steel Industries v. Indian Overseas Bank,

THE HON'BLE THE ACTING CHIEF JUSTICE RAMESH RANGANATHAN AND THE HON'BLE MS JUSTICE J.UMA DEVI Writ Petition No.27718 of 2017 ORDER: (Per the Hon'ble the Acting Chief Justice Ramesh Ranganathan) In this writ petition the order under challenge is the order passed by the Debts Recovery Tribunal-II, Hyderabad in O.A.No.1102 of 2013 dated 20.06.2017. By the said order, the O.A. filed by the respondentbank was allowed holding that the petitioner-defendants were liable to pay the bank a total sum of Rs.1,10,90,850/- with interest at the rate of 14.50% per annum simple, from the date of OA till the date of realisation. Against the said order, the petitioners have an effective alternative statutory remedy without exhausting which they have invoked the extra-ordinary jurisdiction of this Court under Article 226 of the Constitution of India.

As the petitioners have an effective alternative statutory remedy, we see no reason to exercise discretion, under Article 226 of the Constitution of India, to entertain this writ petition. Leaving it open to the petitioners to avail the alternative statutory remedy, the Writ Petition fails and is, accordingly, dismissed. Miscellaneous Petitions pending, if any, shall also stand dismissed. There shall be no order as to costs.

_________________________________ (RAMESH RANGANATHAN, ACJ) __________________________ (J.UMA DEVI, J) 21st August, 2017 JSU

THE HON'BLE THE ACTING CHIEF JUSTICE RAMESH RANGANATHAN AND THE HON'BLE MS JUSTICE J.UMA DEVI Writ Petition No.27718 of 2017 Date: 21.08.2017 JSU