M/S Gousiya Jewellers v. The Karur Vysya Bank

IN THE HIGH COURT OF JUDICATURE AT HYDERABAD

FOR THE STATE OF TELANGANA AND THE STATE OF ANDHRA PRADESH HON'BLE SRI JUSTICE V.RAMASUBRAMANIAN AND HON'BLE MS. JUSTICE J. UMA DEVI W.P.No.14568 of 2018 Date: 26-04-2018 Between:

M/s. Gousiya Jewellers, represented by partners By Mrs. Gousiya Mitaighar and Mr. Abdul Rawoof Mitaighar, D.No.17-82, Main Bazar, Dharmavaram Ananthapur District and 2 others ... Petitioners And The Karur Vysya Bank, represented by Authorised Officer, Priya Towers, 1st floor, NGO Colony, K.T. Road, Near Annarao Circle, Tirupathi, Chittoor District and another ... Respondents Counsel for the Petitioner : Ms. P. Narahari Babu Counsel for Respondents : Mr. P. Rajesh Babu, Standing Counsel

VRS, J & JUD, J W.P.No.14568 of 2018 HON'BLE SRI JUSTICE V.RAMASUBRAMANIAN AND HON'BLE MS. JUSTICE J. UMA DEVI Writ Petition No.14568 of 2018 ORDER: (per V. Ramasubramanian,J) The petitioners have come up with the above writ petition challenging an order passed under Section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act).

2. Heard the learned counsel on both sides.

3. The order impugned in the writ petition was passed on 05-09-2017. It appears that the warrant was not executed, but the reasons are not decipherable. According to the petitioners, they have paid some amounts subsequent to the impugned order. If it is so, the petitioners should have moved the Tribunal under Section 17 of the Act. There is no reason to bypass the alternative remedy of appeal.

Leaving it open to the petitioners to move the Tribunal, the writ petition is dismissed.

As a sequel thereto, miscellaneous petitions, if any, pending shall stand closed.

________________________ V. RAMASUBRAMANIAN, J _____________ J. UMA DEVI, J Date: 26-04-2018 Ksn