Madras High CourtWP/25784/2023disposed of

M/S.Sun Yarn v. The Branch Manager

2023-09-05Honourable The Chief Justice,Honourable Mr Justice P.D.Audikesavalu4 pages

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED: 05.09.2023 CORAM :

THE HON'BLE MR.SANJAY V.GANGAPURWALA, CHIEF JUSTICE AND THE HON'BLE MR.JUSTICE P.D.AUDIKESAVALU M/s. Sun Yarn Rep. by its Proprietor Karthikeyan No.227/228, V.G.V. Nagar, 9th Street Rakipalayam Tiruppur 641 604.

Petitioner Vs.

1. The Branch Manager Bank of India Tiruppur SME Branch Tiruppur.

2. Deputy Zonal Manager Bank of India Asset Recovery Department Coimbatore Zone, Coimbatore.

3. Recovery Officer - I Debts Recovery Tribunal Office of the Recovery Officer 2nd & 3rd Floor, 'Jawans' Bhavan 27-T.B. Road Coimbatore 641 018.

Respondents

Prayer: Petition filed under Article 226 of the Constitution of India seeking a writ of Certiorari to call for the records of the third respondent vide Order in Recovery Proceedings (R.P) No.786/2019 in DRC No.334/2019 in O.A.No.304/2017 dated 05.12.2022, impugned herein and quash the same.

For the Petitioner : Mr.Perumbulavil Radhakrishnan For the Respondents : Mr.F.B.Benjamin George for Respondents 1 & 2

ORDER

(Made by the Hon'ble Chief Justice) Heard Mr.Perumbulavil Radhakrishnan, learned counsel for the petitioner and Mr.F.B.Benjamin George, learned counsel for the respondents 1 and 2.

2. Learned counsel for the petitioner assured this Court that within 15 days, amount of Rs.1.00 crore (Rupees one crore only) would be deposited with the respondent Bank and the remaining amount due and payable would be paid within two months thereafter.

3. In case the petitioner pays the amount of Rs.1.00 crore (Rupees one crore only) within fifteen days, the respondent bank may

defer their action for further two months, so as to enable the petitioner to pay the entire amount due and payable.

4. The writ petition is disposed of. There will be no order as to costs. Consequently, W.M.P.No.25221 of 2023 is closed. (S.V.G., CJ.) (P.D.A., J.) 05.09.2023 Index :

Yes/No :

Yes/No kpl To

1. The Branch Manager Bank of India Tiruppur SME Branch, Tiruppur.

2. Deputy Zonal Manager Bank of India Asset Recovery Department Coimbatore Zone, Coimbatore.

3. Recovery Officer - I Debts Recovery Tribunal Office of the Recovery Officer 2nd & 3rd Floor, 'Jawans' Bhavan 27-T.B. Road, Coimbatore 641 018.

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

(kpl) 05.09.2023