POLA KEDARINATHAM v. THE AUTHORISED OFFICER
Case at a glance
Outcome
Disposed of
These writ petitions are disposed of on the above terms
Provisions considered
Judgment
THE HON’BLE THE CHIEF JUSTICE SRI PINAKI CHANDRA GHOSE AND THE HONOURABLE SRI JUSTICE VILAS V.AFZULPURKAR WRIT PETITION NOs.4662 & 4872 OF 2010 COMMON ORDER: (Per THE HON’BLE THE CHIEF JUSTICE SRI PINAKI CHANDRA GHOSE) Since the issue involved in both these writ petitions is identical they are being disposed of by this common order. W.P.No.4662 of 2010 is filed by the writ petitioner praying to issue a Writ of Mandamus directing the respondents not to proceed against the property of the petitioner pursuant to the auction notice published in Eenadu Daily on
27.1.2010 by declaring the proceedings initiated under Section 13 of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 as illegal and arbitrary. W.P. No.4872 of 2010 is filed by the writ petitioners praying to issue a Writ of Mandamus declaring the action of the 3rd respondent in notifying the petitioners’ property bearing H.No.8/705/1 (old) 8-8-31 (new) along with the appurtenant open land admeasuring about 900 square yards situated at Polavari Street, Girmajipet, Warangal, for sale vide advertisement dated
Operative part
24.01.2010 as illegal, arbitrary and in violation of Article 300-A of the Constitution of India and consequently to direct the respondents 1 to 3 to furnish the documents furnished by the respondents 4 and 5 with respect to the petitioners’ property. Heard learned counsel appearing for the parties and perused the record. It is submitted by the learned counsel appearing for the writ petitioners that as per the OTS agreement entered into between the parties in these matters the principal amounts have already been paid by them, which is not controverted by the learned Standing Counsel appearing for the respondent- Bank. But, it is submitted by the learned Standing Counsel appearing for the respondent-bank that interest for the delayed payment of the principal amounts have not yet been paid by the writ petitioners to the Bank. In view of the above, we think nothing remains in these matters except the interest for the delayed payment of the principal amounts. Since the principal amounts have already been paid by the petitioners in these matters, with regard to the payment of interest for the delayed payments of principal amounts, the respondent-bank has agreed to receive an amount of Rs.1.00 lakh, in full and final settlement of the interest for the delayed payments of principal amounts, in each writ petition. Hence, the respondent-Bank shall receive an amount of Rs.1.00 lakh (Rupees one lakh only) in each writ petition, in full and final settlement of the interest for the delayed payment of principal amounts. These writ petitions are disposed of on the above terms. No costs. Dt: 13-12-2012. TNB ( PINAKI CHANDRA GHOSE, HCJ )
( VILAS V.AFZULPURKAR, J )
Questions this judgment answers
What did the Court decide in this case?
The Court recorded the following disposition: These writ petitions are disposed of on the above terms
Which statutory provisions did this judgment involve?
Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002; Constitution of India.
Precedent status how later indexed judgments have treated this case
No known negative treatment found in the Courts & Cases corpus.
This is a result about the indexed corpus, not a finding that the judgment remains good law. Coverage may be incomplete.