Dismissed

Ifci Limited v. The Union of India and Another

Telangana HC9 Apr 2021WP/1792/2021

Case brief

AI extract

What is this about?

Justice Abhinand Kumar Shavili granted permission to IFCI Limited to withdraw Writ Petition No. 1792 of 2021, under Articles 226 and Section 151 CPC, regarding enforcement notices over Satyam share proceeds, dismissing the petition as withdrawn without costs.

What did the court decide?

Permission to withdraw the writ petition accorded. Writ Petition No. 1792 of 2021 dismissed as withdrawn without costs.

Ifci Limited Vs The Union of India and Another — Writ and Judicial Review | Telangana HC (2021)

¶1

H'GH COURI FOR IHE S] r.;;;,,,?,Ii,^pj ]5.1fj!"",#i^{A r} HyD ERA BA D

¶2

_FRIDAY.^{THE NINTH} DAY OF APRII TWo THousAwo nrrio rwE"rrrt-&;

¶3

PRESENT

¶4

THE HON'BLE SRIJUSTICE ABHINAND KUMAR SHAVILI

¶5

WRIT PETITI ON NO. 1792 0F 2021

¶6

Between:

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lFCl Limited, (A Government of lndia Undertaking), (formerly known as The lndustrial Frnance corporation of rncria L^td )esirori.r.,",j ,i-.'j['l r]jdustriar Finance corporation Act, 1948, Reqistered offrce ,t ircr ioJi di , n;ffiphce, New Derhi - 110 019 and a Regionat office at 8th Fto^or, ^TararlrOrt C"i"pi"i..S-.,a. p.B.No.57, SaitlnaO, Hyderabad - 500 004, Telangana represen,ted by its AGM (Law).

¶8

AND

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...PETITIONER

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The Union of lndia, Represented by its Secretary, Ministry of Finance,

¶11

^^{!.enqSment of Revenue,noomrrto ao,Xort'rieiotk,Nle,ii oijiiii'li,roijor'."'.} 2. The Directorate of Enforcement, Rep.' oV iis lisisiani oirJcior,'o6rie"rnment ot lndia, 3rd Floor, Shakkar Ah'avan, A'ailrdrb"gf,, Hyderabad _ 500 004, Telanoana

¶12

...RESPONDENTS

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Petition under Article 226 of the constitution of lndia praying that in the circumstances stated in the affidavit filed therewith, the High court may be pleased to issue an appropriate writ, order or Direction, more particularly one in the nature of a lvlandamus declaring the action of Respondent No.2 in issuing the lmpugned Notice dated 03/06/2009 and 13/06/2009 under^ptr/LA Actin respect of the appropriation of amounts realized aftei the sale proceeds of shares of Satyam Computers Services Ltd. as highly illega!, arbitrary and violative of Articles 14, 19of the Constitution of lndia in addition to Section 318 of Recovery of Debts Due to Banks and Financial lnstitutions Act 1993 and provisions under Prevention of Ivloney-Lau ndering Act, 2002, and consequently set aside the same and further declare that the Petitioner company has^got charge over^the sale^{proceeds of} Rs. 5,34,62,081.84/- and is entitled to^{proceed withappropriation of amounts as} envisaged in the facility agreements.

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lA NO: 1 OF 202'l

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Petition under Section 151 CPC^{praying that in the circumstancesstated in} the affidavit filed in support^{of the petition,the High courtmay be pleasedto} suspend the lmpugned^{Noticedated13/06/2009}

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Gounsel for the Petitioner:^{SMT. P. V. ARUNA KUMARI}

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Counsel forthe Respondent^{No.1: SRt NAMAVARAPU RAJESHWAR RAO,} ASSISTANT SOLICITOR^GENERAL

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Counsel for the^{Respondent No.2: SRI B. NARASIMHA SARMA,} STANDING COUNSEL

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The Court made the^{following:ORDER}

¶20

HON'BLE^{SRIJUSTICE ABHINAND KUMAR SHAVILI}

¶21

wRITPET^{ITIONNo.t'792of 2021}

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ORDER:.-u.0

¶23

counser^{for petitionerseeks permissionof this courtto}

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withdraw^{the writ} Petition'

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Permission^{is accordedand accoldinglY,the writ Petition} IS

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dismissed^{as withdrawn'No orderas to costs'}

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Pending^{miscellaneousapplications' if any' sha1lstand closed'}

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SD/.L.LA^KSHMIBAB U REGIST R ASSISTANT

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//TRUE^COPY, SECTI o FFICER

¶30

¶31

To, 1. One CC 2 One CC uifll?dlGiillt?F:14?$il{ei?l::ruxs:.H,t,il""'(oPUc) J One CC to Sri B.^{Narasimha sarma'} 4 Two CD Copies MP A{>

¶32

HIGH^COURT

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DATED:09t0412021

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t. -arq*
1 HE STA} 6
q
ct) 17 MAY 2021 O

¶35

ORDER

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WP.No.1792^{ot 2021}

¶37

DISMISSING^{THE WRIT PETITIONAS WITHDRAWN} WITHOUT COSTS

¶38

Ar'
-4Ny

Ifci Limited v. The Union of India and Another

Case brief

What is this about?

What did the court decide?

Ifci Limited v. The Union of India and Another

Case brief

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