Disposed

Scorpio Construction Private Limited, v. The Department of Economic Affairs

Telangana HC12 Oct 2012WP/29963/2012

Case brief

AI extract

What is this about?

A writ petition challenging a notice under Section 13(2) of the SARFAESI Act issued by a Cooperative Bank was disposed of. The Court held that the petitioners have a remedy before the Debts Recovery Tribunal and granted liberty to apply before the appropriate forum.

What did the court decide?

Writ petition disposed of with liberty to apply before the appropriate forum for appropriate orders.

Scorpio Construction Private Limited, Vs The… — Banking and Recovery | Telangana HC (2012)

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IN THE HIGH COURT OF JUDICATURE, ANDHRA PRADESH AT HYDERABAD

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FRIDAY, THE TWELFTH DAY OF OCTOBER TWO THOUSAND AND TWELVE

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PRESENT

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THE HON'BLE ACTING CHIEF JUSTICE PINAKI CHANDRA GHOSE AND THE HON'BLE MR JUSTICE VILAS V. AFZULPURKAR

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WRIT PETITION No.29963 of 2012

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BETWEEN

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Scorpio Construction Pvt. Ltd. and two others.

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…PETITIONERS

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AND

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The Department of Economic Affairs, Ministry of Finance, Government of India, New Delhi and two others.

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…RESPONDENTS

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Counsel for the Petitioners: MR. L. VENKATESHWAR RAO

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Counsel for the Respondents: MR. PONNAM ASHOK GOUD SMT V. DYUMANI

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The Court made the following:

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ORDER: (Per Hon’ble Sri Pinaki Chandra Ghose, the Acting Chief Justice)

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This writ petition is filed praying as under:

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‘…to issue a Writ of Mandamus or any other appropriate Writ or direction declaring the notice issued by the third respondent bank under Section 13 (2) of the Securitization Act and the orders dated 20.07.2012 and 21.09.2012 passed in Crl.M.P.No. 2147 of 2012

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passed by the Chief Metropolitan Magistrate, Hyderabad pursuant to the application filed by the third respondent bank under Section 14 of the Securitization Act as being arbitrary, illegal and without jurisdiction and consequently set aside the same and pass such other order or orders as are deemed fit and proper in the facts and circumstances of the case.’

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2. It appears to us that the Cooperative Bank has already come within the purview of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, since the notification has already been issued in the Gazette of India published by the authority 28.01.2003.

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3. It appears to us that the respondent – bank issued notice to the petitioners on 20.07.2011 under Section 13(2) of the SARFAESI Act and also obtained an order in Crl.M.P.No.2147 of 2012 dated 20.07.2012 passed by the Chief Metropolitan Magistrate, Hyderabad. In view of that, it appears to us that the petitioners have a remedy,

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if at all, before the Debts Recovery Tribunal. In the circumstances, the petitioners are granted liberty to apply before the appropriate forum for appropriate orders.

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The writ petition is accordingly disposed of. As a sequel, the miscellaneous applications, if any, shall stand disposed of as infructuous. In the circumstances, there shall be no order as to costs.

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PINAKI CHANDRA GHOSE, ACJ

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_____________________ VILAS V. AFZULPURKAR, J

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October 12, 2012 DSK

Scorpio Construction Private Limited, v. The Department of Economic Affairs

Case brief

What is this about?

What did the court decide?

Scorpio Construction Private Limited, v. The Department of Economic Affairs

Case brief

What is this about?

What did the court decide?

What the court decided

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