M/S Simra Designer Wear And 3 Others v. M/S Reliance Asset Reconstruction Company Ltd.

HON'BLE SRI JUSTICE P.NAVEEN RAO AND HON'BLE SMT DR.JUSTICE G.RADHA RANI WRIT PETITION No. 31144 of 2022 ORDER : (Per Hon'ble Sri Justice P.Naveen Rao) Petitioners are borrowers, instituted this writ petition challenging the possession 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, 2002').

2.

Writ Petition is directly instituted before this High Court contending that Debts Recovery Tribunal-II, Hyderabad, is not functioning.

3.

This Court by order dated 29.07.2022 granted stay for a period of four weeks pursuant to the impugned notice and petitioners were also granted liberty to pursue S.A.I.R.No. 784 of 2022 before the Debts Recovery Tribunal-II at Hyderabad. The Court is informed that the Presiding Officer has assumed office on 08.08.2022 and Debts Recovery Tribunal-II, Hyderabad, is now functioning.

PNR,J & Dr.GRR,J W.P.No. 31144 of 2022 - 2 - 4.

Therefore, petitioner is granted liberty to prosecute S.A.No.157 of 2022. The interim order granted on 29.07.2022 shall continue for a period of eight (8) weeks from today. 5.

Accordingly, the Writ Petition is disposed of. Pending miscellaneous petitions, if any, shall stand closed. __________________ P.NAVEEN RAO,J _________________________ DR. G.RADHA RANI, J 10th August, 2022.

svl