M/S. Evershine Fabrics Private Limited v. M/ S. State Bank Of India

THE HON'BLE SRI JUSTICE M.S.RAMACHANDRA RAO AND The HON'BLE SRI JUSTICE A.RAJASHEKER REDDY WP.No.10372 of 2019 O R D E R:

(Per the Hon'ble Sri Justice M.S.RAMACHANDRA RAO) Heard counsel for the petitioner and Sri Umesh Singh, Standing Counsel appearing for respondents.

2.

Petitioner is assailing in this Writ Petition a Possession Notice dt.04.05.2019 issued by the respondents contending that the reply dt.23.01.2019 given by the petitioner to the Notice under Section 13(2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short 'the Act') issued on 03.01.2019 was not disposed of under Section 13(3A) of the said Act.

3. Counsel for the respondents states that the respondents would withdraw the Notice dt.03.01.2019 issued under Section 13(2) of the Act and would seek liberty to issue a fresh notice under Section 13(2) of the Act.

4.

In view of the said submissions, this Writ Petition is allowed; the impugned Possession Notice dt.04.05.2019 issued by the respondents is set aside; and the respondents are granted liberty to issue a fresh notice under Section 13(2)

of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 to the petitioner, and then act in accordance with law. No order as to costs.

5.

Consequently, miscellaneous petitions pending if any, shall stand closed.

______________________________ M.S. RAMACHANDRA RAO, J ___________________________ A.RAJASHEKER REDDY,J 22nd May, 2019.

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