The Charminar Cooperative Urban Bank Limited v. M/S.Sri Sai Chem Pharma, Room No.209

THE HONOURABLE SRI JUSTICE RAJA ELANGO WRIT PETITION No.16910 OF 2008 ORDER:

This writ petition is filed under Article 226 of the Constitution of India seeking the following relief:- "to issue a writ, order or direction more particularly one in the nature of writ of Certiorari calling for the records in connection with CTA.No.84 of 2006 dated 27.3.2008 on the file of AP Cooperative Tribunal at Hyderabad and quash the same, so far it went against in reversing the award in ARC.No.36450 of 2002 dated 8.10.2004 on the file of the 10 th respondent modifying with a direction that the respondents 3 and 4 jointly and severally liable to pay first loan amount of Rs.25.00 lakhs only as illegal, arbitrary, unconstitutional and consequentially declare that the certificate issued by the Respondent No.10 under section 71(1)of the AP Co-operative Societies Act, 1964 for recovery of an amount of Rs.91,27,100/- from the respondent No.1 to 9 is valid, legal and pass such other order or orders as this Hon'ble Court may deem fit and proper in the circumstances of the case." 2.

Learned counsel for the petitioner, on written instructions, informed this Court that the loanee i.e., M/s. Sri Sai Chem Pharma approached the petitioner bank after filing the writ petition and closed the loan account on 27.04.2009; that the bank went under liquidation on 22.11.2011 and a Liquidator was appointed by the Commissioner for Cooperation and Registrar of Cooperative Societies.

3.

Recording the submission of the learned counsel for the petitioner, the Writ Petition is disposed of. There shall be no order as to costs.

4.

Miscellaneous Petitions, if any, pending in this Writ Petition shall stand closed.

_________________________ JUSTICE RAJA ELANGO 10.2.2017 AMD

THE HONOURABLE SRI JUSTICE RAJA ELANGO WRIT PETITION No.16910 OF 2008 Date: 10.2.2017 AMD