Petitioners challenged provisions of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. The writ petition, involving a post-settlement dispute, was rejected as there was no case for further interference.
Writ Petition rejected.
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IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION
WRIT PETITION NO.153 of 2004
Crest Paper Mills Ltd. & Anr. ...Petitioners
Versus
Union of India...................Respondents
Mr.Vicky Singh i/b. Thakordas & Madgavkar for the petitioners Mr.Rajiv Chavan with Akhila Koushik i/b. Dr. T.C. Kaushik, for the Respondents
CORAM: F.I. REBELLO & S.P.KUKDAY, JJ. DATE : 19th April,2005
The matter involves challenge to the provisions of the
| Securitization | and | R | econstruction | of | Financial | Assets | & | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Enforcement | of | Se | curity | Interest | Act, | 2002. | That | Act | has | been | |
| upheld | by | the | Apex | Court. | IN | view | of | the | notice | issued | under |
Securitization Act the Appeal preferred under the provisions
of the Debt Recovery Act stood abated.
| 2. | The matter | was adjou | rned on | 21st Marc | h, 2005 o | n the | ||||
|---|---|---|---|---|---|---|---|---|---|---|
| statement | made | by | the | C | ounsel | that | the | matter | is | being |
| settled. | Today | when | the | matter | is | called | out | learned | Counsel | |
| makes | a | statement | that | the | matter | is | being | settled. | It | is |
| still | open |
to the |
parties | to | settle | the | matter. | Th | ere is |
no |
| case | for | further | adjournm | ent. | Co | nsidering | wha |
t has |
been | set |
out above no case for interference in the exercise of the
extra ordinary jurisdiction. Writ Petition rejected.
(F.I. REBELLO, J.)
(S.P. KUKDAY, J.)
Crest Paper Mills Ltd.
Union of India
F.I. Rebello
S.P. Kukday
As recorded by the court registry
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