Dismissed

Sriharan Sripathmanathan v. Edelweiss Asset Reconstruction Company Ltd.

Madras HC11 Dec 2024WP/16448/2024

Case brief

AI extract

What is this about?

Petitioners challenged an order in S.A. No 9 of 2024 and an e-auction notice before the Madras High Court. After partial hearing, they sought leave to withdraw with liberty to pursue appropriate proceedings; the writ petition was dismissed as withdrawn with interim stay extended for two weeks.

What did the court decide?

Liberty to initiate appropriate proceedings; interim stay continued for two weeks; delay condoned for appeal filed by 23.12.2024.

Sriharan Sripathmanathan Vs Edelweiss Asset… — Banking and Recovery | Madras HC (2024)

¶1

WP No.16448 of 2024

¶2

IN THE HIGH COURT OF JUDICATURE AT MADRAS

¶3

DATED: 11.12.2024

¶4

CORAM

¶5

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

¶6

AND

¶7

THE HON'BLE MR.JUSTICE SENTHILKUMAR RAMAMOORTHY

¶8

WP No.16448 of 2024

¶9

1.SRIHARAN SRIPATHMANATHAN

¶10

REP BY HIS POWER OF ATTORNEY MR. E. SIVANANDAM NO

¶11

2.ASIANA HOTEL MANAGEMENT COMPANY PTE LIMITED HAVING ITS REGISTERED OFFICE AT 17, PHILLIP STREET 0501 GRAND BUILDING SINGAPORE 048 695

¶12

: PETITIONERS

¶13

Versus

¶14

1.EDELWEISS ASSET RECONSTRUCTION COMPANY LTD HAVING ITS REGISTERED OFFICE AT EDELWEISS HOUSE OFF CST ROAD KALINA, MUMBAI 400 098

¶15

2.MALABAR HOTELS PRIVATE LIMITED HAVING ITS REGISTERED OFFICE AT 1/238, OLD MAHABALIPURAM ROAD, SEMMENCHERRY

¶16

CHENNAI 600 019

¶17

3.MR. SARANG SUDHAKAR KALE DIRECTOR MALABAR HOTELS PVT LTD FLAT NO 2 GANGADHAR CHAMBERS

¶18

Page 1 of 6

¶19

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

¶20

WP No.16448 of 2024

¶21

314 NARAYAN PETH, PUNE 411 030

¶22

4.KALEIDOSCOPE PROJECTS PVT LTD HAVING ITS REGISTERED OFFICE AT FLAT NO 2 GANGADHAR CHAMBERS 314, NARAYAN PETH PUNE 411 030

¶23

5.EDLWEISS FINVEST LIMITED HAVING ITS REGISTERED OFFICE AT TOWER 3 WING B KHINOOR CITY MALLA KOHINOOR CITY KIRAL ROAD KURLA (WEST) MUMBAI 400 070

¶24

6.THE DEBTS RECOVERY TRIBUNAL I SHASTRI BHAVAN SUBBA ROAD AVENUE NUNGAMBAKKAM CHENANI 600 008

¶25

7.M/S.GBJ HOTELS PRIVATE LIMITED, HAVING ITS REGISTERED OFFICE AT 164 AND 165, AVINASHI ROAD, PEELAMEDU, COIMBATORE, 641 004, REP.BY ITS AUTHORISED SIGNATORY KANAKA DURGA PRASAD POKALA.

¶26

: RESPONDENTS

¶27

(R7-IMPLEADED AS PER ORDER DATED 29.08.2024 IN WMP.26823/2024 IN WP.16448/2024 BY ACJ AND PBBJ)

¶28

Prayer: Petition filed under Article 226 of the Constitution of India for issuance of a Writ of Certiorarified Mandamus calling for the records of the 6th Respondent and quash the Impugned order dated 20.05.2024 made in S.A. No 9 of 2024 and consequently forbear the 1st Respondent from taking any steps pursuant to the E-Auction Notice dated 06.05.2024 and the purported auction head on 22.05.2024

¶29

Page 2 of 6

¶30

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

¶31

WP No.16448 of 2024

¶32

For Petitioners:

¶33

MR.OMPRAKASH, SENIOR COUNSEL FOR MR.SAI SATHYAJITH

¶34

For Respondents:

¶35

MR.S.RAVI, SENIOR COUNSEL FOR MS.S. INDUMATHI RAVI

¶36

M/S. RAVI LAW CHAMBERS, FOR R1

¶37

MR.JOSE JOHN FOR M/S. KING AND PARTRIDGE, R2 TO R4

¶38

MR.AR.L.SUNDARESAN, SENIOR COUNSEL ASSISTED BY MR.RAJASEKAR FOR M/S.ANGAD MEHTA , FOR R7

¶39

R5-NO APPEARANCE R-6 TRIBUNAL

¶40

ORDER

¶41

(Order of the Court was made by SENTHILKUMAR RAMAMOORTHY, J.)

¶42

After the matter was heard for some time, Mr.Om Prakash, Senior

¶43

Counsel for the petitioners, sought leave to withdraw the writ petition with liberty to initiate appropriate proceedings in accordance with law.

¶44

Page 3 of 6

¶45

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

¶46

WP No.16448 of 2024

¶47

By granting such liberty, WP No.16448 of 2024 is dismissed as

¶48

withdrawn, without any order as to costs.

¶49

Since an interim stay of all further steps pursuant to the e-auction notice dated 06.05.2024 was in operation until today, the said interim order shall continue to operate for a period of two weeks.

¶50

If appeal is filed by the petitioner on or before 23.12.2024, delay if any, shall stand condoned.

¶51

In the appeal to be filed, respondent No.7 herein shall also be made a party.

¶52

It is open to the petitioner to seek an extension of stay or other reliefs and the Debt Recovery Appellate Tribunal may consider the same on merits.

¶53

Page 4 of 6

¶54

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

¶55

WP No.16448 of 2024

¶56

We make it clear that we have not expressed any opinion on the

¶57

merits of the matter and all rights and contentions are kept open.

¶58

WMP Nos.17999 and 20119 of 2024 are closed.

¶59

(K.R.SHRIRAM, CJ.) (SENTHILKUMAR RAMAMOORTHY, J.) 11.12.2024

¶60

Index : Yes/No Neutral Citation : Yes/No tar

¶61

¶62

1.THE DEBTS RECOVERY TRIBUNAL I SHASTRI BHAVAN SUBBA ROAD AVENUE NUNGAMBAKKAM

¶63

CHENANI 600 008

¶64

2.THE DEBTS RECOVERY APPELLATE TRIBUNAL, CHENNAI.

¶65

Page 5 of 6

¶66

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

¶67

WP No.16448 of 2024

¶68

THE HON'BLE CHIEF JUSTICE

¶69

AND SENTHILKUMAR RAMAMOORTHY, J.

(tar)

WP No.16448 of 2024

11.12.2024

Page 6 of 6

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

Sriharan Sripathmanathan v. Edelweiss Asset Reconstruction Company Ltd.

Case brief

What is this about?

What did the court decide?

Sriharan Sripathmanathan v. Edelweiss Asset Reconstruction Company Ltd.

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Statutes considered

Parties & counsel

Coram

Case details

Similar cases

State Bank of India Vs Mr. Mathivaanan

Shivsu Canada Pure Fillers Private Limited Vs Shaik Dawood Traders

Mr.Hemant Nanda Vs M/S. Mercedes-Benz Services India Pvt. Ltd.

S.Srinivasan Vs the State Represented by

Abirami Vs the Branch Manager

P.Naveen Chakravarthy Vs Punjab National Bank