Court dismissed a Writ Petition challenging the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, relying on Mardia Chemicals Ltd. v. Union of India.
Petitioner free to approach Debts Recovery Tribunal under Section 17; no costs.
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HON'BLE SRI JUSTICE GHULAM MOHAMMED AND
HON'BLE SRI JUSTICE NOOTY RAMAMOHANA RAO
WRIT PETITION No : 16146 of 2003
O R D E R: (per Hon'ble Sri Justice Ghulam Mohammed)
None appears for the petitioner.
This Writ Petition has been filed by the petitioner challenging the vires of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short, “the 2002 Act”).
However, in view of the judgment rendered by the Supreme Court in Mardia Chemicals Ltd. v. Union of India[1] , whereby the legality and validity of the 2002 Act has been upheld, the cause in this Writ Petition does not survive for further adjudication.
Therefore, the Writ Petition is dismissed. However, the petitioner is at liberty to approach the Debts Recovery Tribunal by way of filing an appeal, under Section 17 of the 2002 Act, within one month from today. On such appeal being preferred, the Tribunal is directed to entertain and decide the same, on merits, without raising the plea of limitation. No costs.
---------------------------(GHULAM MOHAMMED,J)
---------------------------------(NOOTY RAMAMOHANA RAO, J)
6th August 2009
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1 issue framed by the court
Whether the Writ Petition challenging the validity of the 2002 Act survives post the Mardia Chemicals decision.
Colour shows how this judgement treated each authority
Mardia Chemicals Ltd. v. Union of IndiaReferred¶7
Mardia Chemicals Ltd. v. Union of India (2004) 4 Supreme Court Cases 311
2 provisions across 1 enactments
Petitioner
State of Karnataka
Ghulam Mohammed
Nooty Ramamohana Rao
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
