M/S. P C A R Construction Corporation, v. Union Bank Of India,

THE HON'BLE SRI JUSTICE RAMESH RANGANATHAN And THE HON'BLE SRI JUSTICE M.SATYANARAYANA MURTHY WRIT PETITION No.6418 of 2015 ORDER: (per Hon'ble Sri Justice Ramesh Ranganathan) Questioning the notice issued under Section 13(4) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short "the SARFAESI Act"), the petitioners have invoked the jurisdiction of this Court under Article 226 of the Constitution of India.

Against the said notice issued under Section 13(4) of the SARFAESI Act, the petitioners have a remedy of invoking the jurisdiction of the Debt Recovery Tribunal under Section 17 of the SARFAESI Act. As the petitioners have an effective alternative remedy, we see no reason to exercise discretion, under Article 226 of the Constitution of India, to interfere.

The writ petition fails and is, accordingly, dismissed. Miscellaneous petitions pending, if any, shall also stand dismissed. There shall be no order as to costs.

______________________________ RAMESH RANGANATHAN, J __________________________________ M.SATYANARAYANA MURTHY, J 1st April 2015.

JSU THE HON'BLE SRI JUSTICE RAMESH RANGANATHAN And

THE HON'BLE SRI JUSTICE M.SATYANARAYANA MURTHY WRIT PETITION No.6418 of 2015

Date: 01.04.2015 JSU