M/S.Proscans Diagnostics Pvt Ltd v. Standard Chartered Bank

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED: 07.06.2023 CORAM :

THE HON'BLE MR.SANJAY V.GANGAPURWALA, CHIEF JUSTICE AND THE HON'BLE MR.JUSTICE P.D.AUDIKESAVALU and W.M.P. No. 8688 of 2023 M/s. Proscans Diagnostics Pvt Ltd Represented by its Managing Director Mr. Arvind K No.339/340, Anna Salai Chennai - 600 035.

.. Petitioner -vsStandard Chartered Bank Represented by its Authorized Officer Mr. Jithesh Peethambaram Having office at No.19, Rajaji Salai Chennai - 600 001.

.. Respondent Prayer: Petition filed under Article 226 of the Constitution of India for issuance of a Writ of Mandamus, granting extension of time for complying with the conditional order dated 25.08.2022 in IA No. 1530 of 2022 in SA No. 438 of 2022 and consequently forbearing the respondent from taking physical possession of the secured assets pursuant to the order dated 21.07.2022 in Crl. M.P. No. 10984 of 2022 on the file of Learned Chief Metropolitan Magistrate, Egmore, pending disposal of the transferred case on the file of Debt Recovery Tribunal - III, Chennai.

For the Petitioner :

Mr. L.Thiyagaiya For the Respondent :

Mr. B.Krishnan for M/s. Corpla Legal Services

ORDER

(Order of the Court was made by The Hon'ble Chief Justice) We have heard Mr.L.Thiyagaiya, learned counsel for the petitioner and Mr.B.Krishnan, learned counsel for the respondent.

2. Learned counsel for the petitioner submits that the petitioner had approached this Court in view of the fact that the Debts Recovery Tribunal-II (DRT-II) where the proceedings were initially filed, could not hear the matters, as the matters were transferred to Debts Recovery Tribunal-III (DRT-III) and during the interregnum period, the DRT-III was also not in a position to take up the matter. This Court granted status quo. The petitioner has complied with the conditions imposed by the DRT while passing the prohibitory order in favour of the petitioner, though belatedly.

3. The learned counsel for the bank submits that the matter now before the DRT-III is fixed on 20.06.2023.

4. As now the matter is already subjudice before the DRT-III, it would be appropriate for the parties to seek further orders from DRTIII where the matter is pending. Till 20.06.2023, the position as on today be maintained.

With the aforesaid observation, the writ petition is disposed of. There will be no order as to costs. Consequently, connected miscellaneous petition is closed.

(S.V.G., CJ.) (P.D.A., J.) 07.06.2023 Index : yes/no : Yes/No sra To:

The Authorized Officer Standard Chartered Bank No.19, Rajaji Salai, Chennai - 600 001.

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

(sra) 07.06.2023