Dilip Rld Tex Prints Pvt Ltd., v. The Andhra Bank,

THE HON'BLE SRI JUSTICE SANJAY KUMAR and THE HON'BLE SRI JUSTICE GUDISEVA SHYAM PRASAD WRIT PETITION No.26954 of 2016 ORDER: (per SK, J) This Writ Petition was filed seeking a direction to the Andhra Bank not to take any action under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short, 'the SARFAESI Act'), in relation to auction of the collateral securities and stock hypothecated by the petitioner company. Details of the immovable property and the stock were also furnished in the prayer in relation to which protection was sought.

No interim order was granted in this Writ Petition. Sri Gopesh Narayan Bung, learned counsel representing Sri Murlinarayan Bung, learned counsel for the petitioner, would state that the Managing Director of the petitioner company died and that time may be granted to enable him to get further instructions.

Smt. A. Dyumani, learned counsel for the Andhra Bank, would however inform this Court that after the filing of this Writ

SK, J & GSP, J WP.No.26954 of 2016 Petition, the loan of the petitioner company is now in the process of being re-scheduled and that there is no cause for the petitioner to apprehend at this stage that any measures would be initiated under the SARFAESI Act.

Recording the said statement, the Writ Petition is dismissed.

Pending miscellaneous petitions, if any, shall also stand dismissed. No order as to costs.

___________________ SANJAY KUMAR, J 14th JUNE, 2017.

___________________________ GUDISEVA SHYAM PRASAD, J kvni