R.Arumugaswamy v. Ashok Velmar Seshadri

2025:MHC:1833

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED: 30.07.2025 CORAM :

THE HONOURABLE DR.JUSTICE ANITA SUMANTH and THE HONOURABLE MR.JUSTICE N.SENTHILKUMAR W.P.No. 28465 of 2025 and WMP Nos.31877 and 31878 of 2024 R.Arumugaswamy .. Petitioner vs 1.Ashok Velmar Seshadri Resolution Professional for M/s.R.A.Samy Trading Pvt. Ltd.

Office, A2, II Floor, Dynamic Apartments, Parangusapuram Street, Aziz Nagar, Kodambakkam, Chennai - 600 024.

2. Committee of Creditors, Rep. by Punjab National Bank, (Erstwhile United Bank of India) Stressed Asset Management Branch, Arulmani Building No.27, Whites Road, Chennai - 600 114.

.. Respondents Prayer: Writ Petition filed under Article 226 of the Constitution of India praying to issue a writ of Certiorarified Mandamus calling for the records of the respondent for the public e-auction passed in the 10th stake holders consultation committee of R.A.Samy Trading Pvt. Ltd. Dated 16.06.2025 1/4

pursuant to the orders passed in I.A.No.213/IB/2020 in IBA/332/2019 by the National Company Law Tribunal, Chennai fixing the auction on 02.08.2025 publication dated 27.06.2025 and set aside the same and directing the respondents to obtain the fresh valuation report as per the present market value by protecting the interest of corporate debtors and its creditors pertaining to the petitioners company. For Petitioner :

Mr.P.Chandrasekar

ORDER

(Made by Dr. ANITA SUMANTH.,J) Learned counsel for the petitioner seeks permission to withdraw this Writ Petition in light of the statutory remedy available. He has made an endorsement to this effect.

2. Recording the endorsement made, this Writ Petition and the connected Miscellaneous Petitions are dismissed as withdrawn granting liberty to the petitioner to avail the statutory remedy. [A.S.M., J] [N.S., J] 30.07.2025 Index:Yes/No Speaking Order sl 2/4

To 1.Ashok Velmar Seshadri Resolution Professional for M/s.R.A.Samy Trading Pvt. Ltd.

Office, A2, II Floor, Dynamic Apartments, Parangusapuram Street, Aziz Nagar, Kodambakkam, Chennai - 600 024.

2. Committee of Creditors, Rep. by Punjab National Bank, (Erstwhile United Bank of India) Stressed Asset Management Branch, Arulmani Building No.27, Whites Road, Chennai - 600 114.

3/4

DR. ANITA SUMANTH, J.

and N.SENTHILKUMAR, J.

sl W.P.No. 28465 of 2025 and WMP Nos.31877 and 31878 of 2024 30.07.2025 4/4