This Writ Petition is filed seeking to issue a writ of Mandamus declaring the order, dated 26.7.2014, in R.O.C.No.2993/2014/D7 issued by respondent No.4 – District Collector, West Godavari District, Eluru under Section 14 of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short, “the SARFAESI Act”) directing respondent Nos.5 and 6 – Tahsildars to take possession of the properties mortgaged by the petitioner firm in favour of respondent No.1/Bank and to hand over the same to respondent No.1/Bank for taking physical possession of the schedule properties or to recover the amounts from the defaulting borrower by respondent No.1 and send action taken report within two days from the date of receipt of a copy of that order as illegal, arbitrary and violative of the law declared by the Supreme Court of India in Harshad Govarthan Sondagar v. International Assets Reconstruction Court [(2014) 6 SCC 1] and Standard Chartered Bank v. Noble Kumar [(2013)9 SCC 620], and contrary to One Time Settlement Scheme/Restructuring of Loan Scheme of the Banks, and consequently, to set aside the order, dated 26.7.2014, of respondent No.4, as pre-mature, pending consideration of the request of the petitioner firm made to respondent Nos.1 to 3 for restructuring of the loan.
