Madras High CourtWP/26321/2015disposed of

Gangotri Textiles Ltd. v. The Chairman And Managing

2015-08-26Honourable Mr Justice K.K. Sasidharan,Honourable Mr Justice Satish K. Agnihotri5 pages

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED: 26/8/2015 C O R A M THE HON'BLE MR. JUSTICE SATISH K. AGNIHOTRI and THE HON'BLE MR. JUSTICE K.K.SASIDHARAN W.P. No.26321 of 2015 Gangotri Textiles Ltd rep. By its Managing Director Manoj Kumar Tibrewal having registered Office at P.B.No.1020 No.35 Robertson Road ...

Petitioner Vs

1. The Chairman and Managing Director Corporate Centre State Bank Bhavan Madam Cama Road

2. The Deputy Managing Director Corporate Centre State Bank Bhavan Madam Cama Road

3. The Chief General Manager Corporate Centre State Bank Bhavan Madam Cama Road

4. The General Manager Circletop House No.16 College Lane Chennai 600 006.

5. The Deputy General Manager Stressed Asset Management Branch 1112 Raja Plaza Coimbatore 641 037.

6. The Chief Manager Syndicate Bank 105-106 Ponnurangam Road (West)

7. The Chief Manager State Bank of Travancore P.N.Palayam Branch

8. The Chief Manager Canara Bank IFB Branch

9. The Chief Manager Industrial Development Bank of India No.115 Anna Salai Chennai 600 015.

10. The Assistant General Manager State Bank of Hyderabad United India Building Avinashi Road (Near VOC Park)

11. J.M.Finance Asset Reconstruction Company Pvt. Ltd 91 Makers Chambers III, Nariman Point

12. The Manager EDELWEISS ARC Ltd 15th Floor, Edelweiss House C.S.T.Road Kalina Mumbai 600 015.

...

Respondents Writ Petition filed under Article 226 of the Constitution of India seeking a writ of mandamus forbearing the respondents 1 to 12 herein from jointly and severally interfering with the possession of units 1, 2, 3, 5 and 7 of the petitioner for the purpose of weaving

and manufacturing of readymade garments or from selling these units along with Unit 8, pending consideration of the One Time Settlement proposal of the petitioner dated 17/8/2015 given by the petitioner to the respondents.

For petitioner : Mr.R.Gandhi, Senior Counsel for Mr.G.K.Muthukumar - - - - -

O R D E R

(Order of the Court was made by SATISH K. AGNIHOTRI,J.,) This writ petition is filed seeking a writ of mandamus forbearing the respondents 1 to 12 herein from jointly and severally interfering with the possession of units 1, 2, 3, 5 and 7 of the petitioner for the purpose of weaving and manufacturing of readymade garments or from selling these units along with Unit 8, pending consideration of the One Time Settlement proposal of the petitioner dated 17/8/2015 given by the petitioner to the respondents Bank.

2. Assailing the rejection of an application for one-time settlement by the respondent Bank, the petitioner has filed the instant petition.

3. It transpires that the respondent Bank/State Bank of India, has preferred an original application being O.A.No.40 of 2013, pending on the file of the Debt Recovery Tribunal, Coimbatore (for short "the Tribunal"). The petitioner has also filed an application being S.A.No.174 of 2013 before the Tribunal, in respect of the subject matter, involved herein.

4. Without expressing any opinion on the merits of the case, we reserve liberty to the petitioner to make an application in the pending petition filed by it before the Tribunal, questioning the legality of the order of rejection of the proposal made by the petitioner. In the event, an application of this nature is filed, the Tribunal is directed to consider the same on its own merit and in accordance with law, within a period of one week, from the date of filing of the application.

5. This writ petition is disposed of accordingly. No costs. Connected Miscellaneous Petition is closed.

mvs.

sd/- Assistant Registrar (CS-III) True copy Sub Assistant Registrar.