M/S.Marg Limited v. The Authorised Officer

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED: 01.08.2023 CORAM :

THE HON'BLE MR.SANJAY V.GANGAPURWALA, CHIEF JUSTICE AND THE HON'BLE MR.JUSTICE P.D.AUDIKESAVALU M/s. Marg Limited Rep. by its Authorised Signatory K.S.GajendraBabu 57/2B, Sai Subodhaya Apartments East Coast Road, Thiruvanmiyur Chennai 600 041.

..

Petitioner Vs.

The Authorised Officer SICOM Limited Solitaire Corporate Park Building No.4, Guru Harigovindji Road (Andheri-Ghatkopar Link Road) Chakala, Andheri (East) Mumbai 400 093.

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Respondents Prayer: Petition filed under Article 226 of the Constitution of India seeking a writ of Declaration declaring the measures initiated by the respondent in pursuance of the demand notice dated 09.05.2014 issued under Section 13(2) of SARFAESI Act as illegal, void ab-initio,

without jurisdiction and ultra vires of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.

For the Petitioner : Mr.V.Chandrasekaran

ORDER

(Made by the Hon'ble Chief Justice) Learned counsel for the petitioner, on instructions, seeks to withdraw the writ petition with liberty to approach the Debts Recovery Tribunal.

2. In view of the above, the writ petition is disposed as withdrawn. The petitioner may approach the Debts Recovery Tribunal as may be permissible under law.

Consequently, W.M.P.No.1340 of 2023 is closed.

(S.V.G., CJ.) (P.D.A., J.) 01.08.2023 Index :

Yes/No :

Yes/No kpl

THE HON'BLE CHIEF JUSTICE AND P.D.AUDIKESAVALU, J.

(kpl) 01.08.2023