M/ Jai Durga Metals, v. M/S Oriental Bank Of Commerce,

THE HON'BLE SRI JUSTICE C.V. NAGARJUNA REDDY AND THE HON'BLE SRI JUSTICE G. SHYAM PRASAD WRIT PETITION NO.21462 OF 2016 DATED:22-08-2016 Between:

M/s. Jai Durga Metals Jeedimetla Hyderabad Rep. by its Proprietors Mr. P. Arun Kumar and Mr. P. Shiva Prasad ... Petitioners And M/s. Oriental Bank of Commerce Balanagar Hyderabad and another ... Respondents COUNSEL FOR THE PETITIONERS: Mr. Parsa Ananth Nageswar Rao COUNSEL FOR RESPONDENT NO.1: Smt. Kalpana Ekbote COUNSEL FOR RESPONDENT NO.2: -

CVNR, J & GSP, J WP 21462/2016 ORDER: (per the Hon'ble Sri Justice C.V. Nagarjuna Reddy) This writ petition is filed feeling aggrieved by an order passed under Section 14 of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short, 'the Act').

After arguing the case, Mr. Parsa Anantha Nageswar Rao, learned counsel for the petitioners, sought for permission of this Court to his clients to approach respondent No.1 with appropriate representation for granting the facility of repaying the money in reasonable instalments. Without expressing any opinion on the entitlement of the petitioners for such instalments, the writ petition is disposed of by permitting the petitioners to approach respondent No.1, and if such a representation is made respondent No.1 shall be free to consider the same and take a decision in accordance with law.

As a sequel to disposal of the writ petition, W.P.M.P. No.26351 of 2016 shall stand disposed of as infructuous.

__________________________ C.V. NAGARJUNA REDDY, J _________________________ G. SHYAM PRASAD, J 22-08-2016 bnr