High Court for State of TelanganaWP/21080/2006disposed of no costs

M/S. Sri Obuleswara Enterprises Rep By Managing Partner v. The Andhra Pradesh State Financial Corporation

2016-07-28Challa Kodanda Ram2 pages

HONOURABLE SRI JUSTICE CHALLA KODANDA RAM WRIT PETITION No. 21080 of 2006 DATED 28th JULY, 2016 BETWEEN M/s. Sri Obuleswara Enterprises, Rep. by its Managing Partner Smt. D. Sumathi, Ananthapur and anr ....Petitioners And The Andhra Pradesh State Financial Corporation, Hyderabad, rep. by its Managing Director and ors. ....Respondents.

HONOURABLE SRI JUSTICE CHALLA KODANDA RAM WRIT PETITION No. 21080 of 2006 ORDER:

This Writ Petition is filed seeking to declare the action of respondents 1 and 2 in alienating the property of the first petitionerfirm in favour of the third respondent and further in issuing notice for sale of property belonging to the second petitioner as illegal, arbitrary and violation of the principles of natural justice and for a consequential direction to set aside the same. When the Writ Petition is taken up for consideration, the learned Counsel for the respondents-Corporation placed letter No.AFC/ATP/LGL/IGR/2013-14/511, dated 13.08.2014 before this Court and submits that as a matter of fact the guarantors to the loan had settled the loan account under One Time Settlement and closed the account on 25.03.2013 itself. He further submits that it is only on account of the fact that the Writ Petition is pending before this Court, the documents are not being released.

Having considered the respective submissions, there is no

impediment to the respondents-Corporation for releasing the documents. In view of the same, the respondents-Corporation shall release the documents in favour of the legal representatives of the second petitioner within a period of four weeks from the date of receipt of a copy of this order.

Subject to the above, the Writ Petition is disposed of. Miscellaneous petitions pending consideration if any in the Writ Petition shall stand closed in consequence. No order as to costs. -------------------------------------------------- JUSTICE CHALLA KODANDA RAM DATED 28th JULY, 2016.

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