Kesineni Srinivas, vs The Union Of India on 21 December, 2020

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Andhra Pradesh High Court - Amravati

Kesineni Srinivas, vs The Union Of India on 21 December, 2020

IN THE HIGH COURT OF ANDHRA PRADESH AT AMARAVATI
(Special Original Jurisdiction)
MONDAY, THE TWENTY FIRST DAY OF DECEMBER, ~
TWO THOUSAND AND TWENTY |
: PRESENT: fit §
THE HON'BLE SRI JUSTICE U. DURGA PRASAD RAO ~ 1:2.\8

WRIT PETITION NO: 18449 OF 2020 -~
Between:
Kesineni Srinivas, S/o Ramaswamy Kesineni.
...Petitioner _--
AND
1. The Union of India, Rep by its Secretary, Department of Financial Services,
Ministry of Finance, 3 Floor, Jeevan Deep Building, Sansad Marg, New Delhi-
110001
2. The Reserve Bank of India, Rep by its CGM and Secretary, 16"" Floor, Central
Office Building, Shahid Bhagat Singh Marg, Mumbai - 400 001 .
3. The Indian Overseas Bank, Andhra Loyola College Branch, Vijayawada, Andhra
Pradesh- 520008. Rep by its Chief Manager
4. The Chief Manager, Indian Overseas Bank (IOB), Andhra Loyola College
Branch, Vijayawada, Andhra Pradesh-520008.
...Respondents

Petition under Article 256 of the Constitution of India praying that in the
circumstances stated in the affidavit filed therewith, the High Court may be pleased to
issue a writ order or direction, one more particularly in the nature of Writ of Mandamus
declaring the action of 3 rd Respondent in deferring the proposal of One-Time
Settlement (OTS) made by the. Petitioner with respect to Loan MCC Alc
No.153102000006777 vide letter dated 09.09.2020 as being illegal, arbitrary and in
violation of Articles 14, 21 and 300A of the Constitution of India and contrary to the One
Time Settlement Scheme under Chapter 2 of Recovery Policy-2019 of the 3 rd
Respondent Bank traceable to Sections 21, 35-A and 36 of the Banking Regulation Act,
1949, and consequently to set aside the impugned letter dated 09.09.2020 issued by
the 3 Respondent Bank, and further consequently direct the 3% Respondent to re-
consider the proposal for One Time Settlement with respect to MCC A/c No.
153102000006777.

IA NO: 1 OF 2020

Petition under Section 151 "EPC praying that in the circumstances stated in the
affidavit filed in support of the writ petition, the High Court may be pleased to direct the
Respondent Nos.3 & 4 not to take any coercive steps, more particularly in the nature of
invocation of proceedings as under SARFAESI Act, 2002, pending disposal of
WP No.18449 of 2020, on the file of the High Court.

The petition coming on for hearing, upon perusing the Petition and the affidavit
filed in support thereof and the order of the High Court order dated 09-10-2020 and
18-11-2020 & 03-12-2020 made herein and upon hearing the arguments of Sri
N.Ashwani Kumar, Advocate for the Petitioner and Sri Bachina Hanumantha Rao,
Advocate for the Respondent No.3, the Court made the following. -

ORDER

At request of learned counsel for respondent, post after ten days for filing counter.

Interim order granted earlier is extended by four weeks. _.

0) Sd/-M.RameshBabu ASSISTANT REGISTRAR // TRUE COPY // \ ASSISTANT REGISTRAR To

4. One CC to Sri N Ashwani Kumar, Advocate [OPUC] --

2. One CC to Sri Bachina Hanumantha Rao, Advocate [OPUC] _-

3. One spare copy TVR ie f é fe /, HIGH COURT UDPR,J DATED: 21-12-2020 NOTE: POST AFTER TEN DAYS WP.No.18449 of 2020 INTERIM ORDER EXTENDED

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Andhra Pradesh High Court - Amravati