Madras High Court
S&S Industries And Enterprises Ltd vs Stressed Assets Stabilization Fund on 1 July, 2019
Bench: Vijaya K.Tahilramani, M.Duraiswamy
1
IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATED: 01.07.2019
CORAM :
The Hon'ble Mrs.VIJAYA K.TAHILRAMANI, CHIEF JUSTICE
AND
The Hon'ble Mr.JUSTICE M.DURAISWAMY
W.P.No.13052 of 2007
S&S Industries and Enterprises Ltd.,
rep. by its Director and Secretary,
A-4, First Main Road,
Ambattur Industrial Estate,
Chennai – 600 058. .. Petitioner
-vs-
1.Stressed Assets Stabilization Fund,
115, Anna Salai,
Saidapet, Chennai-600 015.
2.Industrial Development Bank of India Limited,
115, Anna Salai,
Saidapet, Chennai-600 015. .. Respondents
Petition filed under Article 226 of the Constitution of India
praying for issue of Writ of Certiorari calling for the records of the first
respondent in Proceedings under Ref.8672/SASF (SSIEL) dated 15 th
March 2007 threating coercive steps under Section 13 of the
Securitisation and Reconstruction of Financial Assets and Enforcement
of Security Interest Act, 2002 including taking over of possession
and/or management of the Secured Assets of the petitioner company
and quash the same, as the action of the first respondent is illegal,
http://www.judis.nic.in
2
ultra vires and further the first respondent has absolutely no
jurisdiction to initiate such action.
For Petitioner : Mr.B.Natarajan
For Respondents : Mr.K.Balamurali
for M/s.Shivakumar
and Suresh
for respondent No.2
No Appearance
for respondent No.1
ORDER
The learned counsel for the petitioner seeks leave of this Court to withdraw the writ petition with liberty to approach the appropriate forum. He has also made an endorsement to the said effect.
2. In view of the above, the writ petition is dismissed as withdrawn with liberty as prayed for. No costs. Consequently, M.P.No.1 of 2007 is closed.
(V.K.T., CJ.) (M.D., J.)
01.07.2019
Index : Yes/No
bbr
The Hon'ble Chief Justice and http://www.judis.nic.in 3 M.Duraiswamy, J.
bbr W.P.No.13052 of 2007 01.07.2019 http://www.judis.nic.in