E.Basheer Ahamed v. Idbi Bank Ltd

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED: 04.08.2021 CORAM :

THE HON'BLE MR.SANJIB BANERJEE, CHIEF JUSTICE AND THE HON'BLE MR.JUSTICE P.D.AUDIKESAVALU W.P.No.14326 of 2021 1 E.Basheer Ahamed 2 Mohammed Saleem 3 E.Ayub Khan 4 B.Ayish Gani 5 B.Mohammed Yosuf Raja

...Petitioners

Vs 1 IDBI Bank Ltd (IDBI Bank) rep by its Authorised Officer PM Towers, No.37, 1st floor Greems Road Chennai-600 006.

2 M/s.Pranav Foundation (P)Ltd Rep by its Managing Director Mrs.Srilakshmi Ranganathan No.72-A, 21 Street L Block, Anna Nagar Chennai-600102 3 C.Jaichander 4 M/s.JNL Event Management rep. by its Partner V.S.Bala Murali No.11/233, 7th Street Ashtalakshmi Nagar Valasaravakkam Chennai 600 118.

...Respondents

Prayer: Petition filed under Article 226 of the Constitution of India for issuance of a Writ of Mandamus directing the 1st respondent bank to consider and dispose of the petitioners representation dated 19.5.2021 by handing over the movable properties which belongs to petitioners, which are available in the 'The Grand Palace Thirumana Mandapam' bearing New Door

Nos.58, 59, 60 and Old No.13/5, 13/5 and 13/7 in Jermiah Road, Vepery, Chennai-600 007 (formerly No.10, Church Road) comprised in O.S.No.1475, R.S.No.987 in Block No.17 of Purasaiwalkam Village, Purasaiwalkam-Perambur Taluk, Chennai District which are more specially mentioned in the schedule of the representation dated 19.5.2021 within stipulated time. For Petitioner : Mr.A.Ilayaperumal For Respondents : Mr.V.Suresh, for M/s.Shivakumar & Suresh for 1st respondent Not ready in notice - R2 & R3 Mr.B.Kannan, for 4th respondent

ORDER

(Made by the Hon'ble Chief Justice) The petition pertains to the usual claim of a secured creditor and the enforcement of the claim by resorting to the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.

2. Certain correspondence have been exchanged between the petitioners or one of them and the secured creditor. The first respondent has disclosed a letter dated July 27, 2021 issued by the secured creditor to the borrowers.

3. The petitioners submit that in the light of the events subsequent to the institution of the petition, the petitioners do not want to pursue the matter and the parties may be left to work out their remedies in accordance with law. Accordingly, W.P.No.14326 of 2021 is disposed of without going into the merits thereof. The parties will be at liberty to proceed in accordance with law.

4. There will be no order as to costs. Consequently, W.M.P.No.15218 of 2021 is closed.

s/d- Assistant Registrar True Copy Sub-Assistant Registrar

kpl To:

IDBI Bank Ltd (IDBI Bank) rep by its Authorised Officer PM Towers, No.37, 1st floor Greems Road Chennai-600 006.

W.P.No.14326 of 2021 PVS(CO) LS(09/08/2021)