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Madras High CourtWP/28740/2024disposed of

M/S.K.K.Press Tools And Components (P) Ltd v. The Authorised Officer

2024-09-26Honourable The Acting Chief Justice,Honourable Mr.Justice M.Jothiraman5 pages

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED: 26.09.2024 CORAM :

THE HON'BLE MR.D.KRISHNAKUMAR, ACTING CHIEF JUSTICE AND THE HON'BLE MR.JUSTICE M.JOTHIRAMAN

1. M/s. K.K.Press Tools and Components (P) Ltd. rep. by its Managing Director S.Krishnamurthy S-32, SIPCOT Industrial Park Pillaipakkam, Venkadu Village Sriperumbudur Taluk Kancheepuram District.

2. S.Krishamurthy

3. K.Sujatha ..

Petitioners Vs.

1. The Authorised Officer Indian Bank Stressed Assets Management Branch 55, 2nd Floor, Wellington Estate Ethiraj Salai, Chennai 600 008.

2. The Assistant General Manager / Branch Manager, Indian Bank Stressed Assets Management Branch 55, 2nd Floor, Wellington Estate Ethiraj Salai, Chennai 600 008.

3. M/s. MSA Metal Stamping Automotive (P) Ltd. 203, Meenakshi Amman Nagar Sriperumbudur Kancheepuram District.

4. The Registrar Debts Recovery Tribunal III Shastri Bhavan Subba Road Avenue Nungambakkam Chennai 600 008.

..

Respondents Prayer: Petition filed under Article 226 of the Constitution of India seeking issuance of a writ of Mandamus for a direction to take up and dispose the pending application/appeal in S.A.No.458 of 2023 on the file of the Debts Recovery Tribunal III, Chennai within a time frame fixed by this Hon'ble Court.

For the Petitioners : Mr.K.J.Parthasarathy For Mr.V.P.Parivallal

ORDER

(Order of the Court was made by the Hon'ble Acting Chief Justice) The petitioners seek a direction to the Debts Recovery Tribunal III, Chennai, fourth respondent herein, to dispose of S.A.No.458 of 2023 pending on its file.

2. According to the petitioners, they have filed an appeal under Section 17 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 before the fourth respondent challenging the sale conducted by the respondent bank and the same is pending.

3. In the light of the above, without going into the merits of the case, we direct the fourth respondent to dispose of S.A.No.278 of 2023 as expeditiously as possible.

4. The writ petition is disposed of. There shall be no order as to costs. Consequently, W.M.P.No.31345 of 2024 seeking to permit the petitioners to file a single writ petition is ordered subject to the payment of individual court fee and W.M.P.No.31346 of 2024 is closed.

(D.K.K., ACJ.) (M.J.R., J.) 26.09.2024 Index :

Yes/No Yes/No kpl

To

1. The Authorised Officer Indian Bank Stressed Assets Management Branch 55, 2nd Floor, Wellington Estate Ethiraj Salai, Chennai 600 008.

2. The Assistant General Manager / Branch Manager, Indian Bank Stressed Assets Management Branch 55, 2nd Floor, Wellington Estate Ethiraj Salai, Chennai 600 008.

3. The Registrar Debts Recovery Tribunal III Shastri Bhavan Subba Road Avenue Nungambakkam Chennai 600 008.

D.KRISHNAKUMAR, ACJ, AND M.JOTHIRAMAN ,J.

(kpl) 26.09.2024