M/S.Sri Sai Chem Pharma, Rep.By Its Managing Partner v. The Joint Registrar/Osd/Arbitrator, The Chairman

THE HON'BLE SRI JUSTICE M.GANGA RAO WRIT PETITION No.17719 OF 2007 ORDER:

This writ petition is filed to issue a Writ of Mandamus declaring the action of the second respondent in issuing notice in S.No.S/2007/28, dated 30.05.2007, in exercise of the powers conferred under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, as irregular and unjustified, as the second respondent is not entitled to take recourse under the said Act when the proceedings already initiated under the A.P. Cooperative Societies Act, 1964, is pending. 2.

Today, when the matter is taken up for final hearing, Sri P.S.Rajashekhar, learned counsel for the respondents-bank, submits that in view of the orders of this Court, the case of the petitioner for One Time Settlement is considered and his account is closed.

3.

Accordingly, the Writ Petition is closed. No costs. Miscellaneous Petitions, if any, pending in this Writ Petition shall stand closed.

____________________________ JUSTICE M.GANGA RAO 9th February, 2018 anr

THE HON'BLE SRI JUSTICE M.GANGA RAO WRIT PETITION No. 17719 OF 2007 9th February, 2018 anr