Writ petitions filed by Ramky Infrastructure Limited challenging DRAT orders, were disposed of after the parties executed a joint memorandum of compromise agreement settling the dispute.
The writ petitions disposed of; Joint Memorandum of Compromise accepted as part of the record; miscellaneous applications closed.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
'//'
HIGH COURT FOR THE STATE OF TELANGANA AT HYDERABAD (Special Original Jurisdiction)
MONDAY, THE SIXTH DAY OF DECEMBER TWO THOUSAND AND TWENTY ONE
PRESENT
THE HON'BLE SRIJUSTICE UJJAL BHUYAN AND THE HON'BLE SMT. JUSTICE P. MADHAVI DEVI WRIT PETITION NOS: 7870.4303 & 7883 OF 2019
wP NO.7870 0F 2019:
Betwee n:
AND
3 SBICAP TRUSTEE COMPANYLIMITED,(in its capacity as SecurityTrustee), having its office at 8, Sth Floor,Khetan Bhavan,198, Jamshedji TataRoad, Churchgate, Mumbai-40002
Petition under Article 226 oflhe constitutionof lndia prayingthat in the circumstances stated in theaffidavitfiled therewith,the High court may be pleased to issue Writ, order or directionmore in the nature Writ of Certiorari callingfor the records relating to Appeal No.181 of 2018 on the file of Debt Recovery Appellate Tribunal, Kolkata and setaside the orders dated03.04.2019 passed by the Honorable Debt RecoveryAppellate Tribunal and consequently direct the Honorable Appellate Tribunal not todisburse the amount deposited by the Petitioner vide a Fixed Deposit No. 38107882978dated 04.12.2018 in favor of 1st Respondent
IA NO:'l OF 2019
Petition under Section151 CPC prayingthat in the circumstancesstatedin theaffidavitfiledinsupportofthepetition,theHighCourtmaybepleasedtostayall furtherproceedingspursuanttotheordersdated03,04.20lgpassedbytheHon'ble Debt RecoveryAppellateTribunal in Appeal No' 181 of 2018'including withregard tothedisbursement/adjustmentoftheamountdepositedwiththeHon'bleDebt Recovery AppellateTribunal, pending disposalof the WritPetition
c
lA NO: 2 OF 201S
Petition un, er section 15i cpc praying that in the sircumstances stated in the affidavit filed n support of the petition, the High court ma), be pleased to take and accept this ar ditional affidavit along with Additional material papers on record Counsel for the P:titioners: SMT. RUBAINA S KHATOON
Counsel for Resp:ndent No.1: SRI RAHUL SARELLA
Counsel for Resprndent No.2: SRt M. SRTKANTH REDDY, SC FOR SBI
Counsel for Resp rndent No. 3: SRI K. R. R.AMANA
WP NO: 4303 OF t019
Between:
Petition un ler Articre 226 0f the constitution of rndia praying that in the circumstances ste ted in the affidavit fired therewith, the High court may be preased to issue an appro )riate writ, order or Direction more particurarry one in the nature of Writ of Mandan us, (i) decraring the orders made by Debt Recovery Appelrate Tribunar, Korkata in lA No' 50 and r'A No. 52 0f 2019 in Appear Nos. 18.1 and 1g2 0f 201g as unrawfur and resurtan'y a' )w the said r.A. No. 50 and r.A. No. 52 0f 2o1g in Appear Nos 181 and 182 of 2019 a; prayed for by the petitioners,
(ii) further, 'r in the arternate, decraring the action of ihe 2nd Respondents in issuing the shov cause notice dated 25.0'r .201g with reference to the 1st Respondents ci' :urar rnstructions dated 01 .07 .2015 as iregar, arbitrary, u nconstitutiona r, a )art from being without jurisdiclion and urtra-sires the said circurar instructions and sl ike down a, such actions as iregar and unconstitutio na r
,5
lA NO: 1 OF 2019
Petition under Section 151 CPCpraying that in the circumstancesstatedin the affidavit filed in support of thepetition, theHigh Court may be pleasedto suspend the operation of the Show CauseNotice dated 25.01 .2019 and stay all further proceedings pursuant thereto pending disposal of the writpetition
lA NO: 2 OF 2019
Petition under Section 151 CPCpraying thatin the circumstancesstatedin the atfidavit filed in support of thepetition, the High Court may be pleased to receive the instant additional affidavit alongwith the documentsmarked as Annexures Counsel for the Petitioners: SMT.RUBAINA S. KHATOON
Counsel for RespondentNo.2: SRI RAHULSARELLA
Counsel for RespondentNo. 3: SRI M' SRIKANTH REDDY' SC FOR SBI
Counsel for RespondentNo. 4: SRI K. R. RAMANA
w P NO: 7883 OF 2019
Between:
AND
Petition underArticle 226 of the constitutionof lndia prayingthat in the circumstancesStated in the affidavitfiled therewith,the High Court may be pleased to issue writ, orderor direction more in the nature writ of certiorari callingfor the records relatingto Appeal No, 182 of 2018 on the file of Debt Recovery Appellate Tribunal, Kolkataand set asidethe orders dated03 04 2019 passed by the Honble DebtRecoveryAppellateTribunalandconsequentlydirecttheHonbleAppellate Tribunal not to disbursethe amount depositedby the Petitioner vide a Fixed Deposit No. 38107882978dated 04.12'2018in favourof 1st Respondent
IA NO: 1 oF 2019 Petition underSection 151 CPC prayingthat in the circumstancesstatedin the affidavitfiled in support of the petition, the High courtmaybe pleasedto stay all furtherproceedings pursuant to the orders dated03'04'2019passed by the Honble
--/1.-
Debt RecoveryApprllate Tribunal in Appeal No 1B2 of 2018inc;luding withreqard tothedisbursemelt/adjustmentoftheamountdepositedraliththeHonbleDebt Recovery AppellateTribunal, pending disposalof the Writ Pet tion Counsel for thePe'itioners:SMT' RUBATNAS KHATOON
Counsel forRespo rdent No'1:SRI RAHULSARELLA
Counsel for Respoldent No. 2: SRI M' SRIKANTH REDDY' SC FORSBI Counsel forRespo'rdent No. 3: SRI K' R' RAMANA
The Court madeth ) following:COMMON ORDER
HONOUnABLI!SIll JUSTICIi UJ'lALIIHLIYAN ANI) HONOURAI}I.,[,SMT..'US'[ICEP. MADHAVIDEVI
W.l''Nos.7870'4303 & 7883 OF 2019
Qp@ frn.Hon'bleSriJustice LliiulBhu)'an)
Heard learnedcounsellor the parties'
In tcrtrso1'the.ioint t.ltcmorandutt.to1'cornpronrisc deed'all thc
writ petitionsaredisPosed ol
4 Miscellaneousapplications, if any pending' shallstand closcd'
5 N OCosts.
//TRUECOPY// ^,,:3+lN+"*t'd5,THtri
SECTIONOFFICER
To,
HIGH COURT \
DATED: 0611212021
COIVIMON ORDER
WP NOS: 7870,4303 & 71883 OF 2019
,1.
o ?- r HE. S14 14:
( I,]I
, 12 JU't2022
-t
i)
DISPOSING OF THE WRI-T PETITIONS
WITHOUT COSTS
I)
sl
,JOI'I.{ ta],1 OItA-\DL \IOF CO}IPRO\II EIi ILED I]Y PE I'I1 ro\r_Rs ,\D 1" ITESPO\D[,.I' I]A\ K
The Petitioners and l't Respondent Bank herein most respectfully subnrrts as fo llor.vs:
The Petitioners had fired the present writ petition inter-alia chairenging rhe order dated 03.04.2019 passed by Hon,ble Debts Recovery Appellate Tribunai, Kolkata in Appeal No. tg2 of 20lg and the said writ petition is pending for final disposal. The petitioners prayed to issue writ of certio.ar.i calling for records relating to Appear No. 1g2 of 20rg on the fire or. Dcbrs Recovery AppeJIate rribunar Korkata and set aside the order.s craicii
03 04'20 19 passed by the IJon'ble Dcbrs Recor,'crv .Apncirarc r-r.;i.Lrr:rl Koll<ata and conscquentry direct rhc Hon'ble Apperiatc .rriirurai ..or l, disburse the amor'rnt orRs. 65,3 1,gg,636 (Rupees Sixry Five Crorc'l'irir.r., orc Lakh Eighty Eight Thousand Six i-Iundred Thirty six only) deposirecl bv lrrc Petitioners vide a Fixed Deposit No. 3 g 1 07 g g2g7g d,ated 04.12.2A1 g in lavour. of I't Respondent Bank and pass any order or other orders as this I-lon,ble Court deems fit and proper in the circumstances of the case.
2' It is submitted that during the pendency ofthe present writ petition, an inrer.inr Order dated 24.04,2019 was passed by this Hon,ble Court in I.A. No. I ol. 2019 in w.P. No. 7883 of 2019 inter-aria directing transfer of the amounr rying with the Registrar, Debts Recovery Appelate Tribunar, Kolkara to rile ].' Respondent Bank, The Hon'ble High court has arso direcrcd rhc Lsr Respo.dent Bank to suspend thc wirl'ur Deraurt proceedirrgs initrated b;, rrrc l'r I{espondent Banr< against RamJ<y In frash-r-rcrure Limitcci, !rr. r\rr
Ayodhya Rami Reddy and Mr Y Nrga:aja trll drsposal ot rh c \'r'ir Fe l: riu ir. For Kotak Mahindra Bank Ltd t-0 WA1 Authorir.dgignrtory
Accordingly, t} e amount ofRs. 65,99,11,318/-lying with the Hon'bleDebts Recovery Appr, llate Tribunalwas transferred to the1st ItespondentBank on 04.06.2019
S4
t
For Kotak M -('. ahindrau-4Bank Lld AuthorisedSignetory
documer:s related to the subject matter olproceedings in O.A.No 2890 of: 017.
Fo' Kotatfhinora eff rtd
Authorissd Signe tory
II
ltI r/
8' upon receipt of the respective amounts as mentioned above, both rh' Petitioners and *rRespondent Bank sha, be rereased ofa, their rrghts, cJairrs and obrigations against each other arising fionr the dispr.rtes and regal c.rscs a\ dcscribed above
Therefore, the panies herein nrost respectfr_tlly pravci rrl 1, this Hon'ble Court may be pleased to record the settrement ren.rs arrir,ccr between the parties as above and pass such necessary or.ders in terms or thrs Joint Memorandum of compromise and dispose writ petition No. 7gg3 oi 2019 and thus renderjustice.
Dated at Hyderabad
Qy*
ovembor 2021
For Kotek lvlfhindra Blnk Lrd. f/\i--j\
Authoriscd Sign.tory
Ra nfrastructure Lrmited Peritioner No. I
KoLak Vahirrd:.r R.:r:., ,.:l r ) st Resporrcient Ba:rii
rVIr, AIIa Ayodh Itami Redd1, Petittoner No,2
aYJ-
Counsel for Petitioners
\*4-
Counsel for 1't Ilespondent Bank
2 issues framed by the court
Whether the writ petitions challenging the DRAT orders should be disposed of in light of a settlement between the parties.
Whether the Court should accept a Joint Memorandum of Compromise regarding debt settlement and discharge of securities.
Ramky Infrastructure Limited
Mr. Allu Ayodhya Ram Reddy
Kotak Mahindra Bank Limited
Reserve Bank of India
State Bank of India
SBICAP Trustee Company Limited
Ujjal Bhuyan
P. Madhavi Devi
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
