A writ petition challenging a possession notice issued under the SARFAESI Act was dismissed because the borrower company had been wound up, and the Official Liquidator had taken possession of and sold the assets, leaving no subsisting issue for adjudication.
Writ petition dismissed; no costs; connected Miscellaneous Petition closed.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATED: 12.01.2018
CORAM:
THE HON'BLE MR.JUSTICE S.MANIKUMAR
AND
THE HON'BLE MRS.JUSTICE V.BHAVANI SUBBAROYAN
and MP No.1 of 2009
M/s. Pioneer Feeds & Poultry Products Pvt. Ltd. Represented by its Authorised Signatory, 7/67, Trichy Road, Pongalur, Tirupur District. ... Petitioner
vs.
WRIT Petition filed under Article 226 of the Constitution of India, praying for the issuance of a writ of certiorarified mandamus, calling for records of the 3rd respondent in his notice dated 06.05.2009 issued under Section 13(4) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 and quash the same and consequentially direct the 1st respondent to take action against the 3rd respondent for flouting the provisions of the Act.
For Petitioners : Mr.Mr.Aswin Kumar for M/s.Sarvabhauman Associates
For Respondents : Mr.Kalyana Raman (for R2&R3) for M/s.Aiyar & Dolia
ORDER
(Order of the Court was delivered by S.MANIKUMAR, J)
Possession notice dated 06.05.2009 has been challenged by the M/s.Pioneer Feeds & Poultry Products Private Limited, the borrower.
Sd/-
ASST. REGISTRAR
SUB ASST. REGISTRAR
ars
To
W.P.No.13429 of 2009
and
MP No.1 of 2009
LRS(CO)
JK 07/02/18
1 issue framed by the court
Whether a writ petition challenging a possession notice issued under Section 13(4) of the SARFAESI Act can be adjudicated when the company has been wound up and assets sold by the Official Liquidator.
2 provisions across 2 enactments
M/s. Pioneer Feeds & Poultry Products Pvt. Ltd.
The Reserve Bank of India, Chennai
M/s.ICICI Bank Ltd.
The Authorized Officer, M/s.ICICI Bank Ltd.
S.MANIKUMAR
V.BHAVANI SUBBAROYAN
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
