Smt.Ch.Kumudin v. Canbank Factors Ltd

THE HON'BLE SRI JUSTI CE SANJAY KUMAR AND THE HON'BLE SRI JUSTI CE GUDI SEVA SHYAM PRASAD WRI T PETI TI ON No. 18711 of 2017 ORDER: (per Hon'ble Sri Justice Sanjay Kumar) This writ petition is sought to be filed by the guarantors for the loan availed by M/s.Ameya Laboratories Limited, which is not made a party to the writ petition, from Canara Bank. The challenge in this writ petition is to the possession notice dated 18.05.2017 issued by the Authorised Officer of the Bank under Rule 8(1) of the Security Interest (Enforcement) Rules, 2002.

In the light of the law laid down by the Supreme Court in Standard Chartered Bank v. Noble Kumar1, no cause of action would arise to the petitioners at this stage to approach this Court. The writ petition is therefore premature and is accordingly dismissed on this short ground. This shall however not preclude the petitioners from availing suitable remedies in accordance with law as and when a cause of action arises.

Pending Miscellaneous Petitions shall also stand dismissed. No order as to costs.

_________________________________ JUSTI CE SANJAY KUMAR Date: 12.06.2017 _________________________________ JUSTI CE GUDI SEVA SHYAM PRASAD va 1 (2013)9 SCC620