Chelamkuri Veera Venkata Satyanarayana, v. I.D.B.I. Bank Limited,

The Hon'ble Sri Justice C.V.Nagarjuna Reddy and The Hon'ble Sri Justice G.Shyam Prasad Writ Petition No.27100 of 2016 Date: 12.08.2016 Between:

Chelamkuri Veera Venkata Satyanarayana ..Petitioner and IDBI Bank Ltd., Bhimavaram Branch West Godavari District rep. by its Branch Manager and 3 others ..Respondents Counsel for the Petitioner: Mr.Ravi Kondaveeti The Court made the following:

Order: (Per the Hon'ble Sri Justice C.V.Nagarjuna Reddy) The petitioner, who is a guarantor for the loan obtained by his wife from respondent Nos.1 and 2, filed this Writ Petition, feeling aggrieved by the Securitization measures taken by the said respondents.

In our opinion, this Writ Petition, filed bypassing the effective remedy under Section 17 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, cannot be entertained in view of the law laid down in the judgments of the Supreme Court (See Union Bank of India vs.

Panchanan Subudhi[1] and United Bank of India vs. Satyawati Tondon and others[2]).

In view of the availability of the effective alternative remedy, this Writ petition is dismissed without adjudicating on merits and with liberty to the petitioner to avail the afore-mentioned alternative remedy.

As a sequel to dismissal of the Writ Petition, WPMP.No.33551 of 2016, filed by the petitioner for interim relief, is disposed of as infructuous.

______________________ (C.V.Nagarjuna Reddy, J)

_________________ (G.Shyam Prasad, J) Dt: 12th August, 2016 lur [1] (2010) 15 SCC 552 [2] (2010) 8 SCC 110