Allowed

M/s Suresh Textiles v. The Andhra Pradesh State Financial Corporation

Telangana HC14 Jun 2022WP/19949/2021

Case brief

AI extract

What is this about?

The Telangana High Court dismissed the writ petition challenging a possession notice issued under the SARFAESI Act. The bench held that the appropriate remedy is an application before the Debts Recovery Tribunal under Section 77.

What did the court decide?

Liberty granted to approach the Debts Recovery Tribunal; writ petition disposed of without costs.

M/s Suresh Textiles Vs The Andhra Pradesh State… — Banking and Recovery | Telangana HC (2022)

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HIGH COURT FOR THE STATE OF TELANGANA AT HYDERABAD (Special Original Jurisdiction)

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TUESDAY, THE FOURTEENTH DAY OF JUNE TWO THOUSAND AND TWENTY TWO

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PRESENT

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THE HONOURABLE THE CHIEF JUSTICE UJJAL BHUYAN AND THE HONOURABLE MRS JUSTICE SUREPALLI NANDA

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WRIT PETITION NO: 19949 OF 2021

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Between:

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M/s Suresh Textiles, Rep. by its^prop. Sri. Regonda Suresh, S/o Late R. Prabhakar, Aged about 50^years, Occ: Business, Rl/ o H.No.3-144, Renikunta Village, Rajapet Mandal' Nalgonda District'

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...'ETIT'.NER

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AND

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The Andhra Pradesh State Financial Corporation, Rep. by its Authorized Officer, Nalgonda Branch, situated at H.No.6-1-9917, Boyawada, Ramagiri, Nalgonda - 508 oo1

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...RE.P.NDENT

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Petition under Article 226 of lhe Constitution of lndia praying that in the circumstances stated in the affidavit filed therewith, the High Court may be pleased to issue Writ of Mandamus or any other appropriate writ, order or direction to set aside the possession notice dated 0910712021 as illegal, arbitrary, unconstitutional, motivated and against the principles of natural^justice and consequently direct the respondent corporation to consider the representation dated 111O112021 and 1310712021 and consequently direct the respondent corporation to restructure the loan account No. 64381201, 64381202.

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lA NO: 1 OF 2021

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Petition under Section 151 CPC praying that in the circumstances stated in the affidavit filed in support of the petition, the High Court may be pleased direct the respondent corporation to consider the representation dated 1110112021 , 1310712021 .

il2t/

lA NO: 2 OF 2021

Petition under Section 151 CPC praying that in the circumstances stated in the affidavit filed in support of the^petition, the High Court may be^pleased to stay of all further^proceedings in^pursuance of the notice dated^possession notice dated o9t0712021 .

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Counsel for the Petitioner: SRl. D. RAGHAVULU

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Counsel for the Respondent: SRI M HAMSA RAJ (SC FOR APSFC) The Court made the following: ORDER

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THE HONOURABLE SRI JUSTICE UJJAL BHIryAN AND THE HONOURABLE MRS JUSTICE SUREPALLI NANDA

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WRIT PETITION No.19949 of 2O2L

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ORDER: (Per Hon'ble Si Justice Ujjal Bhuyan)

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Heard Ms.Hamsa Durga Ponnam, learned counsel for the petitioner and Mr.Hamsa Raj, learned Standing Counsel for Andhra Pradesh State Financial Corporation, for the respondent.

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Petitioner has filed the writ petition assailing the possession notice dated O9.O7.2O21 issued by the respondent 'under Section 13 (4) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act,2OO2 (briefly,'SERFAESI Act' hereinafter).

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From a perusal of the possession notice, it is seen that outstanding dues of the petitioner was quantified by the respondent at Rs. 1,O8,42,OOO/- as on the date of issuance of possession notice.

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This matter has been kept pending on the ground that petitioner has approached respondent for settlement. Today, learned counsel for the petitioner submits that settlement is not possible.

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2 UB,J.&SN,J w_19949²⁰²¹

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Against the possession notice under Section 13 (4) of the SARFAESI Act, petitioner has got adequate and efhcacious alternative remedy under Section 77 of the SARFAESI Act by filing securitisation application before the jurisdictional Debts Recovery Tribunal.

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That being the position and without expressing any opinion on merit, we grant liberty to the petitioner to approach the competent Debts Recovery Tribunal for ventilation of his grievance.

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This disposes of Writ Petition. However, there shall be no order as to costs.

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As a sequel, miscellaneous applications

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pending, if any, in this Writ Petition, shall stand closed.

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SD/.N.CHAND SEI(HAR^RAO ASSIST GISTRARS

SE OFFI CER

To,

//TRUE^COPY//

1 . The Authorized^{Officer' AndhraPradesh} -S-tate^{Financial Corooration'} Nalgonda^{Branch, sit,'tJUli'il'r'iJlo'J-g-s)7'eovawada'Rdmagiri' Nalgonda} - 508 001.

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a.^{gl5ffiB 3il 3i E?*gtl:it33E?iatRE3.?)ropucl}

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Two CD^CoPies

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One SPare^CoPY

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CHR &

HIGH COURT

DATED:1 410612022

ORDER

51
I s Stl 1,{[l

W.P.No.19949 ot 2021

DISPOSING OF THE WRIT PETITION WITHOUT COSTS

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/.n
!/7 *

M/s Suresh Textiles v. The Andhra Pradesh State Financial Corporation

Case brief

What is this about?

What did the court decide?

M/s Suresh Textiles v. The Andhra Pradesh State Financial Corporation

Case brief

What is this about?

What did the court decide?

What the court decided

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