M/S Brook Fields And Resorts Pvt. Ltd v. The Indian Bank

HON'BLE SRI JUSTICE C.V.NAGARJUNA REDDY AND HON'BLE SRI JUSTICE G.SHYAM PRASAD WRIT PETITION No.25274 of 2016 Date:29.7.2016 Between:

M/s Brook Fields and Resorts Pvt Ltd., formerly M/s Agrigold Infra Developers Pvt Ltd., reptd by its DirectorS.V.Subba Rao Peddibotla .....Petitioner And:

The Indian Bank, Vijayawada, Reptd., by its Chief Manager and another.

....Respondents Counsel for the petitioner: Mr. K.Chidambaram Counsel for Respondent No.1:

Mr.

Ambadipudi Satyanarayana The Court made the following:

ORDER: (per Hon'ble Sri Justice C.V.Nagarjuna Reddy) This Writ Petition is filed for the following substantive relief:

"...issue a writ of Mandamus or any other appropriate writ, order or direction declaring the sale notice E auction Dt.01-07-2016 by proposing to sell the building bearing D.No.28-10-11 & 12, Plot No.29, Block No. 47 of Allipuram Ward, Konarkplaza, Suryabagh Visakhapatnam consisting of Ground + 4 Floors situated in an extent of 1114 square yards as illegal, arbitrary and contrary to the orders being issued by this Hon'ble Court in PIL No.193/2015."

After arguing the case and on instructions,

Mr. K.Chidambaram, the learned counsel for the petitioner, requested for permission of the Court to withdraw the Writ Petition with liberty to his client to avail the remedy under Section-17 of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.

In view of the said request, the Writ Petition is dismissed as withdrawn with liberty to the petitioner in terms of the prayer made.

As a sequel to dismissal of the Writ Petition, WPMP.No.31202 of 2016 filed by the petitioner for interim relief is dismissed as infructuous.

____________________________ JUSTICE C.V.NAGARJUNA REDDY ______________________ JUSTICE G.SHYAM PRASAD 29th July 2016 DR