M/S. M.S. Constructions v. Idbi Bank Limited

HON'BLE SRI JUSTICE V.RAMASUBRAMANIAN AND HON'BLE Dr. JUSTICE SHAMEEM AKTHER WRIT PETITION No.39964 of 2018 ORDER: (per Hon'ble Sri Justice V.Ramasubramanian) Challenging the action of the respondent - Bank in taking physical possession of the secured asset under Section 13 (4) read with Section 14 of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short "the SARFAESI Act, 2002"), the petitioners have come up with the above Writ Petition.

Heard Mr.Avinash Desai, learned Counsel for the petitioners and Mr.T.V.K.Murthy, learned Standing Counsel for the respondent. It is represented by the learned Standing Counsel for the respondent - Bank that the petitioners have already filed an appeal under Section 17 of the SARFAESI Act, 2002. Therefore, there is no reason to entertain the Writ Petition.

Accordingly, the Writ Petition is closed leaving it open to the petitioners to work out their remedies before the D.R.T. No order as to costs.

Consequently, miscellaneous petitions, if any pending, in the Writ Petition shall stand closed.

__________________________ V.RAMASUBRAMANIAN, J _________________________ Dr.SHAMEEM AKTHER, J 25.02.2019 Gsn.

.