M/S.Shri Varalakshmi Aishwaryam v. Standard Chartered Bank
IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATED: 27.01.2022 CORAM :
THE HON'BLE MR.MUNISHWAR NATH BHANDARI, ACTING CHIEF JUSTICE AND THE HON'BLE MR.JUSTICE P.D.AUDIKESAVALU W.P.No.20643 of 2021 M/s.Shri Varalakshmi Aishwaryam Promoters Private Limited, rep. by its Managing Director V.Sunderasan, No.320, Vivekananda Street, New Fairlands, Salem-636 016.
..
Petitioner Vs 1.Standard Chartered Bank, No.19, Rajaji Salai, 3rd Floor, Parrys, Chennai - 600 001 rep, by its Authorised Officer.
2.C.N.Sivasubramanian 3.C.N.Rajan 4.R.Ananthi 5.S.Rajeshwari 6.Elangovan 7.M/s.Sri Shanmuga Spinners, rep. by its Authorized Signatories, No.2/43, Avinash Road, Chinniyampalayam, Coimbatore - 641 062.
8.M/s.Sri Venkateshwara Spinners, rep. by its Authorized Signatories, No.2/43, Avinash Road, Chinniyampalayam, Coimbatore - 641 062.
9.M/s. Sri Sivashanmuga Spinners, rep. by its Authorized Signatories, No.2/43, Avinash Road, Chinniyampalayam,
Coimbatore - 641 062.
.. Respondents Prayer: Petition filed under Article 226 of the Constitution of India praying for a writ of mandamus (a) directing the first respondent to secure possession in terms of the order passed under Section 11 of the SARFAESI Act; (b) directing the Debt Recovery Tribunal, Coimbatore to expeditiously dispose the applications pending in S.A.No.16/2021 and S.A.No.268/2021 within a time limit to be specified by this Court. For the Petitioner : Mr.E.Om Prakash Senior Counsel for M/s.P.Kamal Hasan For the Respondents : No Appearance for respondent No.1 : Mr.V.Jayachandran for respondent Nos.2 to 9
ORDER
(Order of the Court was made by the Hon'ble Acting Chief Justice) The writ petition has been filed to seek a direction on the Debts Recovery Tribunal, Coimbatore to expedite the hearing of the applications pending in S.A.No.16 of 2021 and S.A.No.268 of 2021 respectively.
2. None appears on behalf of the first respondent bank despite service. Mr.V.Jayachandran, learned counsel, appearing for the respondents 2 to 9.
3. It is submitted on behalf of the petitioner that the next date of hearing before the Debts Recovery Tribunal, Coimbatore is now on March 22, 2022, otherwise, it was fixed today i.e. 27.01.2022. The matter was not taken up today and, thereafter, adjourned to March 22, 2022.
4. Learned counsel for the respondents 2 to 9 has no objection, if the writ petition is disposed of with a direction to the Debts Recovery Tribunal, Coimbatore to hear and decide the applications pending in S.A.Nos.16 and 268 of 2021 expeditiously.
5. In view of the above, the writ petition is disposed of with a direction to the Debts Recovery Tribunal, Coimbatore to hear and decide the pending applications in S.A.No.16 of 2021
and S.A.No.268 of 2021 respectively, expeditiously and if possible, on March 22, 2022 itself. The parties have agreed to extend full cooperation for expeditious hearing of the matter.
6. It is made clear that if the applications are not heard on March 22, 2022 for justified reasons, the Debts Recovery Tribunal, Coimbatore would record it and thereupon the matter would not be adjourned for a long, rather would be heard and decided expeditiously, in any case, within two months' from the next date of hearing i.e. 22.03.2022. There will be no order as to costs.
Sd/- Assistant Registrar(CS-V) //True Copy// Sub Assistant Registrar bbr To:
1.The Authorised Officer.
Standard Chartered Bank, No.19, Rajaji Salai, 3rd Floor, Parrys, Chennai - 600 001.
2.The Registrar, The Debts Recovery Tribunal, Coimbatore.
+1cc to Mr.P.Rajendran, Advocate, S.R.No.5106 W.P.No.20643 of 2021 KSM(CO) CB(03/02/2022)