Chinta Satyanarayana Reddy v. Authorized officer under Securitisation Act

(per the Hon’ble Sri Justice B.Sudershan Reddy) Heard learned counsel for the petitioners and Smt. Ch.Lakshmi Kumari, learned Standing Counsel for the State Bank of India. Learned counsel for the petitioners submits that the petitioners intend to prefer an appeal under Section 17 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short “the Act”) questioning the legality and correctness of the notice issued under Section 13 (4) of the Act. In such view of the matter, it is unnecessary to adjudicate the writ petition on merits. It is submitted that the petitioners intend to file an appeal on 07-03-2005 and accordingly prays that the interim order earlier granted by this Court may be extended for a period of one week from today. Having regard to the facts and circumstances of the case, the petitioners shall have the benefit of the interim order for only one week from today. It shall be open to the Tribunal to pass appropriate interlocutory order without being influenced in any manner whatsoever by the interim order, which we have passed during the pendency of the writ petition. The Tribunal shall consider the appeal as well as the application to be filed by the petitioners on their own merits uninfluenced by anything stated in this order. The writ petition is accordingly disposed of. (B.Sudershan Reddy, J) (C.V.Ramulu, J) Dated:04-02-2005 Note: Furnish certified copy today. (B/o) GJ/GS To

The Assistant General Manager-Cum- Authorised officer under Securitisation Act, State Bank of India, Commercial Branch, Main Road, Kakinada, East Godavari District.

Two C.D. copies.