Dismissed

M/S.Suganthi Educational Trust, v. M/S.Cfm Asset Reconstruction Pvt. Ltd.

Madras HC20 Nov 2024WP/13170/2024

Case brief

AI extract

What is this about?

Writ petition was withdrawn by the petitioners with liberty to approach the Debts Recovery Tribunal. The Court dismissed the petition as withdrawn, continued the interim stay for two weeks, and allowed a miscellaneous petition to file a single writ petition.

What did the court decide?

Liberty to approach Debts Recovery Tribunal; interim stay continued up to 4th December, 2024.

M/S.Suganthi Educational Trust, Vs M/S.Cfm Asset Reconstruction Pvt. Ltd. — Madras HC (2024) — LawSathi Research

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W.P.No.13170 of 2024

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IN THE HIGH COURT OF JUDICATURE AT MADRAS

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DATED: 20.11.2024

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CORAM :

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THE HON'BLE MR.K.R.SHRIRAM, CHIEF JUSTICE

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AND

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THE HON'BLE MR.JUSTICE SENTHILKUMAR RAMAMOORTHY

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W.P.No.13170 of 2024 and W.M.P.No.14313 of 2024

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1.M/s.Suganthi Educational Trust, rep. by its Managing Trustee Dr.Sujatha Balasubramanian, Having its administrative office at

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No.15, Corporation Colony, Kodambakkam, Chennai-600 024.

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2.Dr.Sujatha Balasubramanian 3.Dr.Ba.S.Rohini Jayapriya 4.C.C.Balasubramanian .. Petitioners

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1.M/s.CFM Asset Reconstruction Pvt Ltd.,

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1^st Floor, Wakefield House, Sprott Road, Ballard Estate, Mumbai-400 038.

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2.G Square Realtors Private Limited, rep. by its Managing Director Registered Office No.98, Harrington Apartments, 3^rd Floor, Harrington Road, Chetpet, Chennai. Tamil Nadu-600 031.

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___________ Page 1 of 5_

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https://www.mhc.tn.gov.in/judis

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W.P.No.13170 of 2024

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3.The Karur Vysya Bank Ltd., No.20, Erode Road Vadivel Nagar, L.N.S., Karur-639 002.

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4.Enrge Frontier Pvt Ltd., S.F.No.104/1, N.M.Medu Naducombai PO, Namakkal-637 104. .. Respondents [Respondent No.4 impleaded as per order dated 7.6.2024 made in WMP No.16338 of 2024]

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Prayer : Petition filed under Article 226 of the Constitution of India seeking issuance of a writ of certiorarified mandamus to call for the entire records pertaining to the impugned order passed by the first respondent vide REF:CFMARC-1 KVB/Suganthi/01/2024-25 dated 25.4.2023 which received by the petitioner as on 27.4.2024 and quash the same and consequently direct the first respondent to grant the petitioners a period of 3 month's to redeem the mortgage as issued by the first respondent to the petitioner's vide letter REF:CFMARC-1 KVB/Suguanthi/2/2023-24 dated 15.3.2024.

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For Petitioners : Mr.V.Raghavachari Senior Counsel for M/s.V.Ponnappa Bharathi

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For Respondents : Mr.Vijay Narayan Senior Counsel for M/s.Abishek Jenasenan for respondent No.1

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___________ Page 2 of 5_

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https://www.mhc.tn.gov.in/judis

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W.P.No.13170 of 2024

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: Mr.Mohan Ranganathan for respondent No.2 : Mr.S.Sathyanarayanan for respondent No.3 : Mr.R.Parthasarathy Senior Counsel for Ms.Ashwini Devi for respondent No.4

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ORDER

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(Order of the Court was made by the Hon'ble Chief Justice)

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After the petition was heard for some time, Shri Raghavachari sought

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leave to withdraw the petition with liberty to approach the Debts Recovery Tribunal. Shri Raghavachari further requested that since there was stay running in petitioners' favour all these days, two weeks' time be given to approach the Debts Recovery Tribunal and apply for stay/appropriate reliefs. Shri Raghavachari states that respondents before us shall be made as respondents in the appeal.

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Petition is dismissed as withdrawn with liberty as prayed for.

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https://www.mhc.tn.gov.in/judis

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W.P.No.13170 of 2024

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There shall be no order as to costs. Consequently, interim application stands closed. W.M.P.No.14312 of 2024 filed to permit petitioners to file a single writ petition is allowed. The stay that was granted earlier by this court shall be continued up to and including 4^th December, 2024. The Debts Recovery Tribunal shall not be influenced by any order passed by this court earlier. If appeal is filed within two weeks from today, the delay, if any, shall be deemed to have been condoned. All rights and contentions of the parties are kept open.

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It is made clear that we have not made any observation on the merits of the matter.

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(K.R.SHRIRAM, C.J.) (SENTHILKUMAR RAMAMOORTHY,J.) 20.11.2024

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Index : Yes/No NC : Yes/No bbr

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To:

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The Karur Vysya Bank Ltd., No.20, Erode Road Vadivel Nagar, L.N.S., Karur-639 002.

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___________ Page 4 of 5_

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https://www.mhc.tn.gov.in/judis

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W.P.No.13170 of 2024

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THE HON'BLE CHIEF JUSTICE AND SENTHILKUMAR RAMAMOORTHY,J.

bbr

W.P.No.13170 of 2024

20.11.2024

___________ Page 5 of 5_

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https://www.mhc.tn.gov.in/judis

M/S.Suganthi Educational Trust, v. M/S.Cfm Asset Reconstruction Pvt. Ltd.

Case brief

What is this about?

What did the court decide?

M/S.Suganthi Educational Trust, v. M/S.Cfm Asset Reconstruction Pvt. Ltd.

Case brief

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What did the court decide?

What the court decided

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