M/S.Victory Electricals Ltd v. Bank Of Baroda
132521 HIGH COURT FOR THE STATE OF TELANGANA AT HYDERABAD (Special Original Jurisdiction) THURSDAY, THE TWENTY THIRD DAY OF NOVEMBER TWO THOUSAND AND TWENryTHREE PRESENT THE HON'BLE MRS JUSTICE SUREPALLT NANDA wRtT PETTT|ON NO.16808 0F 2014 Between:
M/s.Victory Electricals Ltd, Plot No.8, Survey No.855, lDA, Medchal, Ranga Reddy Dist, Hydeiabad - 501 401 Rep. by its Managing Director, Sri Mahindra Vaddineni ...PETITIONER AND
1. Bank of Baroda, Grievance Redressal Commiftee Baroda Corporate Centre, BKC, Bandra (East), Mumbai - 400 051 Rep. by The Chairman and Managing Director.
2. Bank of Baroda, Corporate Financial Services Hyderabad Branch, 3-6-26212, Tirumala Estates 1st Floor, Himayatnagar Hyderabad - 500 029 ....RESPONDENTS Petition under Article 226 of the Constitution of lndia praying that in the circumstances stated in the affidavit filed therewith, the High Court may be :
pleased to grant an order, direction or a writ, more so in the nature of Writ of Mandamus, declaring the impugned proceedings of the 2nd Respondent Bank Dated 21 .05.2014 declaring Petitioner Company as Wilful Defaulter to deprive the :
purpose and scope of proceedings in Case No.10/2013 pending before the Hon'ble BIFR, New Delhi as illegal, arbitrary, highhanded and violative of Section 22 of SICA, '1985 and violative of Reserve Bank circular No.RBl/20'13-14/63 dated 1.O7.2013 apart from being violative of Article 14 of the Constitution of lndia and consequently set aside the proceedings dated 21 .O5.2O14 of 2nd respondent declaring the petitioner company as wilful defaulter.
I.A. NO: 1 OF 2O14(WPMP. NO: 20879 OF 2014 Petition under Section 151 cPC praying that in the circumstances stated in the affidavit filed in support of the petition, the High court may be pleased to suspend the impugned proceedings Dated 21.0S.2014 of the 2nd Respondent. Gounsel for the Petitioner: SRI T. BALA MOHAN REDDY Counsel for the Respondent No.1: SRI SRINIVAS CHITTURU Counsel for the Respondent No.2: - The Court made the following: ORDER
HON'BLE MRS JUSTICE SUREPALLI NANDA WRIT PETITION o.16808 of 2OL4 ORDER:
The prayer as sought for by the petitioner in the present writ petition reads as under:
"To issue an order writ or direction more particularly one in nature of writ of MANDUMUS declaring the impugned proceedings of the 2nd Respondent Bank Dated 21.05.20L4 f declaring Petitioner Company as Wilful Defaulter to deprive the purpose and scope of proceedings in Case No.10/2013 pending before the Hon'ble BIFR. New Delhi as illegal, arbitrary, highhanded and violative of Section 22 of SICA, 1985 and violative of Reserve Bank circular No. RBI/201314163 dated OI.O7.2Ol3 apart from being violative of Article 14 of the Constitution of India and consequently set aside the proceedings dated 21.05.2Ot4 of 2nd respondent declaring the petitioner company as wilful defaulter." 2.
It is represented by learned counsel appearing on behalf of the respondents that National Company Law Tribunal, Chennai, had passed an order dated 19.11.2019 bringing the petitioner
SN.J wP.16808 of 2014 company into liquidation and therefore, the cause of action in the present writ petition does not survive for adjudication, 3.
Bringing the said submission on record, the present writ petition is dismissed as infructuous. However, there shall be no order as to costs.
Miscellaneous petitions, if any, pending in this Writ petition, shall stand closed.
sD/-v. HARI PRASAD ASSISTANT REGIFTRAR \ \ //TRUE COPY// SECflON{FFICER To,
1. One CC to SRI T' BALA MOHAN REDDY' Advocate IOPUCI
2. One CC to SRI SRINIVAS CHIfiURU' Advocate IOPUCI
3. Two CD Copies i MP g
tt HIGH COURT DATED:2311112023 ? I 0Et 20?l
ORDER
WP.No.f 6808 of 2014 DISMISSING THE WRIT PETITION AS INFRUCTUOUS WITHOUT COSTS 0{,'} Wn----- -,5'4'D