Cholamandalam Investment And Finance Company Limited. v. District Magistrate Cum Dc, Ludhiana And Others

IN THE HIGH COURT OF PUNJAB AND HARYANA

AT CHANDIGARH CWP No. 36818 of 2018 Decided on : 20.12.2018 Cholamandalam Investment and Finance Company Limited . . . Petitioner(s)

Versus

District Magistrate-cum-Deputy Commissioner, Ludhiana and others . . . Respondent(s) CORAM: HON'BLE MR. JUSTICE AJAY KUMAR MITTAL HON'BLE MR. JUSTICE SUDIP AHLUWALIA PRESENT: Ms. Puja Chopra, Advocate for the petitioner(s).

**** AJAY KUMAR MITTAL, J. (Oral) Petitioner has approached this Court under Articles 226/227 of the Constitution of India, seeking quashing of the order dated 20.07.2017 (Annexure P-8), under Section 14 of the Securitization and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002 (in short 'the 2002 Act'), passed by respondent No.2. A further prayer for issuing direction to respondents No.1 to 3 to proceed under Section 14 of the 2002 Act and hand over the physical possession of the secured assets to the petitioner. 2.

At the outset, learned counsel for the petitioner submitted that she may be allowed to withdraw the present writ petition with liberty to the petitioner to file a fresh application under Section 14 of the 2002 Act after removing the objections on the basis of which the earlier application was rejected vide order dated 20.07.2017 (Annexure P-8) by the District Magistrate. 3.

Dismissed as withdrawn. It shall, however, be open to the petitioner to take recourse to the remedies as may be available to it, in accordance with law. (AJAY KUMAR MITTAL) JUDGE (SUDIP AHLUWALIA) JUDGE December 20, 2018 J.Ram Whether speaking/reasoned:

Yes/No Whether Reportable:

Yes/No JAWALA RAM 2019.01.07 16:04 I attest to the accuracy and authenticity of this document Chandigarh