M/S. Ameya Laboratories Ltd Mazdoor Sangh And 9 Others v. Asset Reconstruction Company India Limited (Arcil) And 6 Others

HIGH COURT FOR THE STATE OF TELANGANA AT HYDERABAD (Special Original Jurisdiction) THURSDAY, THE THIRTY FIRST DAY OF DECEIVBER TWO THOUSAND AND TWENTY PRESENT THE HON'BLE SRI JUSTICE A.RAJASHEKER REDDY AND THE HON'BLE SRI JUSTICE K.LAKSHMAN WRIT PETITION NO: 18046 OF 2020 Between;

'1 . lt//s. Ameya Laboratories Ltd Mazdoor Sangh, (formarly known as M/s. Anu's Laboratories Ltd lMazdoor Sangh), Offie at. Unit-lll, Plot No. 272, 273,280 and 281, IDA Pashamylaram-lsnapur, Sangareddy District. Rep. by its. Ex. General Secretary K. Umashankar Reddy.

2. Somidi Maheshwar, S/o.Somidi Mondaiah, H. No.5-168/4a, Chandranagar Colony, HIVT, IDPL, Balanagar, Hyd.

3. Subhash Narayan Surya Wanshi, S/o.Narayan Bhaurao Suryawanshi, H.No B-24l401 , Mahaveer Vatica CHS, Sai Nagar, Old Panvel, New tr/umbai, Raighad-Dist, lt/R.

4. lvlekala Naga Raju, S/o. I\,4. Krishnaiah, H.No. 2-68192132, MLR Colony, Chengicherla, Boduppal, Hyd-92.

5. K. Dattatreya Chary, S/o. K.Brahmaiah Chary, H.No. 3727 , Road No.8, Vidya Nagar, New tvlig, Phase-2, B.H.E.L, Hyd.

6. Battu Vikram, S/o. SagarRao, H.No.5-99/158, Road No.4, Sri Suryodaya Colony, Patel Guda (V), Ameenpur (M), Sanga Reddy (D).

7. G.Venkateshwar Rao, S/o. Ranga Rao, Flat No. '103, Naresh Enclave, Near Shiva Krishna Theatre, Kondapally-Ap-521228. B. Tummala Bapaiah Choudary, S/o.Gangadha Rao, H.No 48-2111 , Qutubullapur, Ram Reddy Nagar, Chinthal Hyd.

9. Silveru Ravi, S/o. Veeresham, H.No. 6-6612 lsnapur X-Road, Patancheru(lvl), Sangareddy (D)-502307-T. S.

10. Narsimha Rao Chalamalashetty, S/o. Ch. Pandu Ranga Rao, H.No. 6-264/13111A42, Hal Raghavendra Colony, Road No.'1 , Suchithra Road' Qutubullapur' Hyd ...pETrroNERS AND

1. Asset Reconstruction Company lndia Limited (Arcil), Office fll Buwana Towers, 2nd Floor 207, S D Road, Secunderabad 500003, Rep. By lts Authorized Officer Chaithanya Kiran Reddy, Secunderabad, Hyderabad.

2. 52 Engineering Services, Having lts Registered Office At Sy. No. 53/4, Bahadurpally Village, Medchal Malkajgiri District, Hyderabad, Rep. K. Nageshwara Rao.

3. Sri. Kandula Ramakrrshna, Managing Director, 52 Engineering Services, S/o.Sri. K. Appa Rao, Aged About 43 Years, F/O. H. No. 4-32-336, Ptot No. 189/A, Lb Nagar, Shapur Nagar, Medchal Malkajgiri District, Hyderabad.

4. Smt. Kandula Krishna veni, W/o. K. Nageshwara Rao, aged about 40 years, Plot No.262, Shapoor Nagar, IDA Jeedimetla, Qutubullapur ltlandal, Shapur Nagar, lvledchal Malkajgiri District, Hyderabad.

5. tr//s. Virupaksha Organics Limited, registered address is Plot No. B-4, lDA, Balanagar, Ir/edchal-lvlalkajgiri (District), Hyderabad, TS - 500037 lN.

6. lV/s. Ame-ya Laboratolgg Lid , (formarly knbwn as Anuis Laboratories Ltd), Rep. by Office of the Official Liquidator, Corporate Bhavan, Thatti Annaram, Bandlaguda, Hyderabad. ,

7. The Sub-Registrar, SRO, Sangareddy, Office a{ Kandi, Sangareddy. ...RESPONDENTS Petition under Article 226 of lhe Constitution of lndia praying that in the circumstances stated in the affidavit filed therewith, the High Court may be pleased to a. lssue a writ of certiorarifjed mandamus or other appropriate writ order or direction calling for the records of the Respondents pertaining to the impugned Sale Notice dated 1 110312020 issued under Rule 6 of Sub-Rule

2 and Rule 8 Sub . Rule 6 of the Security lnterest (Enforcement) Rules, 2002 ,no srre certificate vide Doc No. 19596'of 2O2O dated 171o712020 registered *iir.r tn" SRO Sangareddy issued by the '1 st Respondent in favour of 2nd n".ponO"nt under 6ection 13 of the Securitisation Act and Rules B and I of in. "S".riity lnterest (Enforcement) Rules, 2002 and consequential records unaer section 13(a) oi the Act, if any, and valuation report obtained by theautnoriseO otticei (i.e., the Respondent No l ), if any b' lssue a writ of mandamusorotherappropriatewritorderordirectlondirectingRespondent No.1 and 2 to set aside ail actions initiated by the 1 st Respondent ilcl$119 issuanceofSaleCertificateVideDocNo.l9596of2020daledlTl0T12020 *E.

i"i"o with the SRO Sangareddy in pursuant to the lmpugned Notice dated tliOltZOiO pubtished under Rule ti(O) ot tf,e Security lnterest (Enforcement) nrrli,looz rnd the Securitisation and Reconstruction of Financial Assets and Enforcement of Security tnterest Act, 2002. c. lssue such other appropriate writ or direction or order(s) ihat may be deemed to be just and equitable in the facts and circumstances of the case and in the interest of justice' IA NO 10F Petition under section 15'1 CPC praying that in the circumstances stated in the affidavit filed in support of the petition, the High Court may be pleased to directtheRespondentstomaintainStatusquofromfurtheralienatingor ;;irg any crrarge in favour of any third parlies in any manner in respect.of sate c6rtiticate vide Doc No.

19596 of 2o2o dated 1710712020 registered with the SRO SangareddY.

Counsel for the Petitioner: SRI D. NARENDER NAIK, FOR SRI D. RAJASHEKAR Counsel forthe Respondent No.1: SRI P' SRI HARSHA REDDY Counsel forthe Respondent Nos.2 to 4: SRI B' CHANDRASEN REDDY Counsel for the Respondent Nos.S & 7:----"

Counsel for the Respondent No.6: SRI J.SRINADH REDDY, OFFICIAL LIQUIDATOR The Court made the following: ORDER

I ARR,J&KL,J W.P.No.18046 of 2020 THE HON'BLE SRIJUSTICE A.RAJASHEKER REDDY AND THE HONOURABLE SRIJUSTICE K. LAKSHMAN Writ Petition No.18046 o12020 ORDER: (Per Sri Justice A. Raiasheker Reddv) This writ petition is filed with the following prayer; "a. To issue a writ of certiorari, mandamus or other appropriate writ, order or direction calling for the records of the respondents pertaining to the impugned sale notice daled 11.03.2020 issued under Rule 6 of Sub-Rule 2 and Rule -8 sub-Rule 6 of the Security lnterest (Enforcement) Rules, 2002 and Sale Certificate vide Doc. No.1 9596 of 2020 daled 17 .07 .2020 registered with the SRO Sangareddy issued by the 1"r respondent in favour of-2nd respondent under Section 13 of the Securitisation Act and Rules 8 and 9 of the Security lnterest (Enforcement) Rules, 2002 and consequential records under Section 13(4) of in" n"t, it any; and valuation report obtained by the authorized officer (i e , the respondent No.1 ) if any;

'b. To issre a writ of mandamus or other appropriate writ order or direction airectlng rlspondent Nos.1 and 2 to set aside all actions initiated by th9 l :' respond;nt including issuance of Sale Certificate vide Doc No 19596 of 2020 dated 17.07.2020 registered with the SRO Sangareddy in pursuant to the impugned notice dated 11.03.2020 published under Rule 8(6) of the Security lnterjst (Enforcement) Rutes, 2OO2 and the Securitisation and Reconstruction of Financial Assets and Enforcement of Security lnterest Act, 2002 and to issue such other appropriale directions"

2.HeardSriD.NarendarNaik,learnedcounselforthepetitioners, SriP.SriHarshaReddy,learnedcounselforrespondentNoland sri B. Chandrasen Reddy, learned counsel for respondent Nos.2 to 4 and Sri J. Srinadh Reddy, learned counsel for official Liquidator for respondent No.6.

3.

At the hearing, learned counsel for the petitioners seeks permission to withdraw the writ petition. However, learned counsel for official Liquidator submits that as the property was grossly undervalued even as per the petitioners in their writ affidavit, petitioners cannot be permitted to withdraw the writ petition and liberty may be granted to the Official Liquidator to take appropriate steps against the auction conducted by respondent No.1 regarding under valuation of the property' 4.

lf property is undervalued and sold,. it is open for the Official Liquidator to take appropriate action regarding under valuation if law permits,butthatissuecannotbedec|dedinthiswritpetitionwhen petitionersdoesnotwanttoprosecutethiswritpetition.lnviewofSame,

ARR,J&KL,J W.P.No.18046 of 2020 permission is granted to withdraw the writ petition and the writ Petition is dismissed as withdrawn with liberty to offlcial Liquidator as indicated above.

5.

lnterim order granted by this Court on 19.11.2020 shall stand vacated. No order as to costs. Miscellaneous petitions, if any, pending in this writ petition shall stand dismissed.

SO/. M.RAMANA KRISHNA ASSISTANT REGISTRAR //TRUE COPY// SECTION OFFICER To to Sri D. Rajashekar, Advocate IOPUC] to Sri P. Sri Harsha Reddy Advocate [OPUC] to Sri B. Chandrasen Reddy, Advocate [OPUC] to Sri J. Srinadh Reddy, Official Liquidator, Advocate [OPUC] dyr/ One CC One CC One CC One CC SM Two CD Copies

HIGH COURT DATED:31/1212020 IA e ( o 1 I "Uil m2l i s'n.\r

ORDER

WP.No.18046 of 2020 DISMISSING THE WP AS WITHDRAWN, WITHOUT COSTS 0l zS$J '

t C,P.

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