R.Murugesan, v. The Authorized Officer,
IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATED : 09.04.2015
CORAM
THE HON'BLE MR. JUSTICE SATISH K. AGNIHOTRI AND THE HON'BLE MR.JUSTICE M. VENUGOPAL W.P. Nos.10341 and 10342 of 2015 and M.P. Nos.1 and 1 of 2015 R. Murugesan Petitioner in W.P. No.10341/2015 A. Manickam Petitioner in W.P. No.10342/2015 vs.
The Authorised Officer City Union Bank Ltd.
No.24-B Gandhi Nagar Kumbakonam City Union Bank Ltd Palladam Branch represented by its Branch Manager No.3/212, Trichy Road Palladam Reliance Asset Reconstruction Company Ltd.
(Reliance ARC) represented by its Deputy Vice President K. Sundar 570, Rectifier House Naigaum Cross Road Next to Royal Industrial Estate Wadala, Mumbai 400 031 Respondents in WP No.10341/2015 The Authorised Officer City Union Bank Ltd.
No.24-B Gandhi Nagar Kumbakonam City Union Bank Ltd Palladam Branch represented by its Branch Manager No.3/212, Trichy Road Palladam
Reliance Asset Reconstruction Company Ltd.
(Reliance ARC) represented by its Deputy Vice President K. Sundar 570, Rectifier House Naigaum Cross Road Next to Royal Industrial Estate Wadala, Mumbai 400 031 R. Murugesan Respondents in W.P. No.10342 of 2015 Writ Petitions filed under Article 226 of the Constitution of India seeking a writ of declaration declaring that the initiation of action under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 by the respondents by issuance of the notices under Section 13(2) thereof dated 01.03.2014 issued by the respondent no.1 and all that has been done pursuant thereto is illegal, void and invalid. For petitioner in both the WPs Mr.P.K. Rajagopal - - - - -
ORDER
(Order of the Court was made by SATISH K. AGNIHOTRI, J.) Being aggrieved by the notices dated 01.03.2014 issued under Section 13(2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, (for short "the SARFAESI Act"), the petitioners have come up with the instant writ petitions on several grounds.
At this stage, we are not inclined to entertain these writ petitions on any ground whatsoever, when sufficient remedy is available under the provisions of the SARFAESI Act. We accordingly dismiss the writ petitions as not maintainable, at this stage, reserving liberty to the petitioners to take recourse to the statutory provisions of the SARFAESI Act. No costs. Connected Miscellaneous Petitions are closed. Sd/- Assistant Registrar True Copy Sub Assistant Registrar
To The Authorised Officer City Union Bank Ltd.
No.24-B Gandhi Nagar Kumbakonam The Branch Manager City Union Bank Ltd Palladam Branch No.3/212, Trichy Road Palladam rsv(co) krd 20/4 W.P. Nos.10341 and 10342 of 2015