Sun Design Private Limited and Anr. Vs State Bank of Hyderabad and 5 Ors.

1 After hearing the learned Counsel for the parties, we are inclined to dispose of the present petition as the statement is made that when the petition was filed, the Presiding Officer of the Appellate Tribunal was not available and now he is available. The appeal filed by the Petitioner before the Debt Recovery Appellate Tribunal is still pending along with application for interim relief.

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2

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wp.1072-2016

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2 Therefore, the present writ petition is disposed with liberty to

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invoke the remedy available under the Securitization and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002 (SARFAESI Act).

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3 With regard to the continuation of interim relief is concerned, the learned Counsel has pointed out that this Court on 26 April 2016 after hearing the parties granted protection and the same is still in force. Therefore, at this stage to avoid further complications and by keeping all contentions open, the said interim relief is continued for six weeks from today. However, it is made clear that the learned Debt Recovery Appellate Tribunal shall decide the appeal in accordance with the said Act and uninfluenced by the interim order so passed in the matter. Hearing of the appeal be expedited.

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4 Writ Petition is accordingly disposed of with liberty. All contentions are kept open.

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(A.S. GADKARI,J.) (ANOOP V. MOHTA, J.)

Sun Design Private Limited and Anr. v. State Bank of Hyderabad and 5 Ors.

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Sun Design Private Limited and Anr. v. State Bank of Hyderabad and 5 Ors.

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