Telangana High CourtM/S Vijayalaxmi Ginning Pressing ... vs Indian Bank, Corporate Office, 254260, on 13 October, 2022Author:P Naveen RaoBench:P Naveen RaoIN THE HIGH COURT OF JUDICATURE AT HYDERABAD\n     FOR THE STATE OF TELANGANA AND THE STATE OF ANDHRA\n                                    PRADESH\n\n             THURSDAY , THE SEVENTEENTH DAY OF JULY\n                  TWO THOUSAND AND FOURTEEN\n                            :PRESENT:\n               THE HON'BLE SRI JUSTICE K.C. BHANU\n                               AND\n                 THE HON'BLE MRS. JUSTICE ANIS\n                        WP .NO:1737 of 2014\nBetween:\nM/s Vijayalaxmi Ginning & Pressing Industry, Raghavapur Village, Peddapalli\nMandal" Karimnagar District, Rep. by its Managing Partner M.C.Sambi\nReddy,\n\n                                                                   ..... Petitioner\n                                       AND\n\n1 Indian Bank, Corporate Office, 254-260, Avvai Shanmugham Salai,\nChennai\n  - 600014, Rep by its Chairman and Managing Director\n2 Indian Bank, Zonal Office, P B No. 1042, 3-6-365 Liberty Plaza, 4th Floor,\n  Himayat Nagar, Hyderabad - 500 029, Andhra Pradesh, Rep by its Zonal\n  Manager.\n3 The Chief Manager/Authorized Officer, Indian Bank, Peddapalli Branch,\n  Kaman Road, Pedapalli, Karimnagar District.\n                                                               .....Respondents\n\n                Petition underArticle 226of the Constitution of India praying\nthat in the circumstances stated in the affidavit filed herein, the High Court\nmay be pleased to issue an appropriate writ, order or direction, more\nparticularly one in the nature of Writ of Mandamus declaring the action of the\nrespondents in issuing notices dt. 25.9.2013 and 31.12.2013 underSections\n13(2)and13(4)of the Securitization and Reconstruction of Financial Assets\nand Enforcement of Security Interest Act, 2002 respectively as illegal, unjust,\narbitrary and in violation of Principles of Natural Justice and also in violation ofArticles 14, 19(1)(g), 21and300-Aof the Constitution of India and contrary to\nthe provisions of theSecuritization and Reconstruction of Financial Assets\nand Enforcement of Security Interest Act2002 and consequentially set aside\nthe same\n\n               The petition coming on for hearing, upon perusing the Petition\nand the affidavit filed herein and order of the high Court dated 31-01-2014 ,\n21-02-2014, 14-03-2014, 03.06.2014 & 10-07-2014 and upon hearing the\narguments of SRI K.R. PRABHAKAR, Advocate for the Petitioner and of Sri\nA. Satyanarayana, Standing Counsel for Respondents, the Court made the\nfollowing.\n\nORDER:At request, post after one week.\n         Interim order granted earlier is extended subject to condition of\npetitioner depositing Rs.3,00,00,000/- (Rupees three Crores) within a\nperiod of six (6) weeks from the date of receipt of a copy of this order,\n failing which stay shall stand vacated without further reference to the\nCourt.ASSISTANT REGISTRAR\n             //TRUE COPY//\n\n\n\n                                     For ASSISTANT REGISTRAR\nTo\n1 One CC to SRI K.R. PRABHAKAR, Advocate (OPUC)2. One spare copy.TVR\n\n\n\n\nHIGH COURT\n\n\n\n\nKCBJ & ANIS J\n\n\n\n\nORDER\n\n\n\n\nDATED 17-07-2014\n WP NO.1737 OF 2014\n\n\n\n\nPOST AFTER ONE WEEK\n\n\n\n\nDIRECTION CONTINUE\n\n\n\n\nDRAFTED: TVR\nDATED: 18-07-2014\n\n\n\n\n                       HIGH COURT\n\n\n\n\n                      KCBJ & ANIS J\n\n\n\n\n                            ORDER\n      DATED 17-07-2014\n\n\n\n\n   WP NO.1737 OF 2014\n\n\n\n\nPOST AFTER ONE WEEK\n\n\n\n\n DIRECTION CONTINUE