V. Jaya Prakash Narayana, v. Edelweiss Asset Reconstruction Co. Ltd.,

THE HON'BLE SRI JUSTICE NOOTY RAMAMOHANA RAO AND THE HON'BLE DR.JUSTICE B.SIVA SANKARA RAO WRIT PETITION NO.1202 OF 2016 JUDGMENT: (Per Hon'ble Sri Justice Nooty Ramamohana Rao) Sri Vedula Srinivas, learned counsel for the petitioner, would submit that though this Court has shown some indulgence on 12.01.2016 by directing the writ petitioner to deposit 1/4th of the sum due and payable to the 1st respondent, but nonetheless because of the default committed in non-payment thereof, the secured asset has already been possessed by the secured creditor in terms of and in accordance with sub-section (4) of Section 13 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.

In that view of the matter, he would submit that the cause in this writ petition does not survive any further for adjudication. Therefore, after hearing Sri E.Madan Mohan Rao, learned counsel for the respondents, we dismiss the writ petition. Accordingly, the writ petition is dismissed. No costs. Consequently, the miscellaneous petitions pending, if any, shall also stand closed.

_______________________________________ JUSTICE NOOTY RAMAMOHANA RAO _____________________________________ JUSTICE DR.B.SIVA SANKARA RAO 17.02.2016 Ksp