N.Seetarama Raju v. Siddhi Vinayaka Industries
Court: High Court for State of Telangana
Bench: J SREENIVAS RAO,ALOK ARADHE
Judgment date:
Case summary
High Court for State of Telangana judgment dated 2024-11-25. N.Seetarama Raju v. Siddhi Vinayaka Industries. Read the judgment and case details on LawSphereX.
Judgment text
[ 3418 ] IN THE HIGH COURT FOR THE STATE OF TELANGANA AT HYDERABAD (Speciat Original Jurisdiction) MONDAY, THE TWENTY FIFTH DAY OF NOVEMBER TWO THOUSAND AND TWENTY FOUR PRESENT THE HONOURABLE THE CHIEF JUSTICE ALOK ARADHE AND THE HONOURABLE SRI JUSTICE J SREENIVAS RAO WRIT PETIT]ON NO:29021 oF 2024 Between: N. Seetarama Sn N. Satyanarayan Raju, Aged. . Bgjr,_91o_Late 60 years, Occ. Business, Rio H. No. 668, Old MIGH BHEl,-Serilinlampally Man"dal, R. R. District. ... PETITIONER AND 1 Vinayaka lnduskies, Through its Authorised Signatory and partner . Sjddhi Mrs. Thota Radhika R/o H. No. 7-1-57t7t1 ,Dharam KarEn Road Ameerpet, Hyderabad. 2 Central Bank of lndia, Himayath Nagar Branch 3-S-943t9441A, Gandhi Kuteer - Colony Narayanguda, Hydeiabad. J Reliance Asset Reconstruction Company Ltd, Req. Office at Reliance Centre Off. Western Eiprdss Highviay Santacruz (East) lprt! {i1g^0^t! floor Mumbai-400055 4 M/s Sunrise Oleo Chemicals Ltd. (ln Liquidation), Rep.
by the Officiat Liquidator Hon'ble High Court of State of Telangana and Attached to the Hon'ble High Court of AP. 5 State Bank of lndia (SBB 2J), '101 , first floor, Raj Bhavan, Hyderabad. ... RESPONDENTS Petition under Article 226 oI the Constitution of lndia praying that in the circumstances stated in the affidavit filed therewith, the High Court may be pleased to issue a Writ or Order more particularly one in the nature of Writ of Certiorari calling for the records relating to Appeal No. '141 of 2023 on the file of The Debts Recovery Appellate Tribunal at Kolkata and to quash the order passed by the Debts Recovery Appellate Tribunal . at Kolkata in Appeal No.
14112O23 dated 15-05-2024 as illegal, high handed, arbitrary and against to the well settled said Appeal No 141 12023 as principles of Law and consequentially to dismiss the not maintainable IA NO: 20F 2024 PetitionunderSectionlslcPcprayingthatinthecircumstancesstatedin pleased to support of the petition' the High Court may be the affidavit filed in on the file of the proceedings in Appeal No'141i2023 grant stay of all further pending disposal of the main Tribunal' Kolkata' Hon'ble Debts Recovery Appellate Writ Petition. : SRI AMBADIPUDI SATYANARAYANA' Counsel for the Petitioner 'si. counsel, rep. , sRl KANDHIKA KARUNAKAR Counsel for the ResPondents: following: ORDER The Court made the ,BLE THE HON THE CHIEF JUSTICE ALOK ARA. DHE AND THE HON'BLE SRI JUSTI CE J. SREENTVAS RAO WRIT PETITION No. 29O21 of2024 ORDER: Per the Hoft,bte the Chief Justice Alok Aradhe) Mr. Ambadipudi Sat5ranarayana, learned Senior Counsel representing Mr. Kaldhika Karunakar, Iearned counsel for the petitioner.
I l 2. In this writ petition, the petitioner has assailed the l validity of the order dated 15. 05. 2024 passed by the Debts Recovery Appellate Tribunal at Kolkata (hereinafter referred to as, the "Appellate Tribunal") in Appeal No. 14l of 2023 I by which the appeal preferred by the respondent No. 1 against the order dated 23. 09. 20 19 passed by the Debts Recovery Tribunal-I, Hyderabad (hereinafter referred to as, "the Tribunal"), has been held to be maintainable. 3. Facts giving rise to filing of this writ petition briefly stated are that the respondent No. 4 had availed of the frnancial assistance from the respondent No. 2 -bank. The respondent No. 2 bank, filed O. A. No. 252 of 20OC before -the Tribunal . On26. 03. 2011, the respondent No. 2 - bank, assigned th: debt in favour of the Reliance Asset Reconstruction Company Limited through a registered assignment deed.
The Reliance Asset Reconstruction Company Limited, the secured creditor, had put the mortgaged property for sale by way of public auction on 13. 03. 2018. The petitioner has purchased the subject property in the said auction. 4. The respondent No. 4, represented bl, th" official liquidator, had filed a Securitisation Application, namely S. A. No. 98 of 2019, before the Tribunal. The Tribunal, by an order dated 23. 09. 2OL9, upheld the action of the Reliance Asset Reconstruction Company Limited in auctioning the property 1n question. Thereaft<:r, the respondent I'lo. 1, who was not a party to the aforesaid securitisation application, filed arr appeal before the Appellate Tritrunal. The appellalt raised an objection as to the maintajnability of the appeal , inter alia, on the grounds J a which are narrated in paragraphs 4 and 5 of the impugned order. 5. The Appellate TribunaI, by arr order dated 15. 05. 2024, inter alia, has held as follows: i) The costs of Rs.
10,000/_, directed to be deposited vide order dated 16. 1O. 2O23, was deposited on 31. 70. 2023; ii) Section 18 of the Securitisation ald Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, permits any person to hle an appeal even though he may uot have been a part5r. However, the issue whether or not the respondent No. 1 is an aggrieved person, has been kept open I to be I t adjudicated. I 6. From the contentions urged on behalf of the petitioner, it does not appear that the petitioner had specihcally taken the ground that the respondent No. 1 is not an aggrieved person. 7. Needless to state that the appeal by a person, who is not a party tc the proceeding, can only be filed by a serson, who is an aggrieved person. The Appetlate Tribuna,l shall bear the aforesaid aspect in mind while dealing with the appeal and record a finding whether or not the respondent No. 1 is an aggrieved person and therefore has locus to maintain th,-- appeat.
The Appellate Tribunal shall endeavour to decide the appeal expeditiously. 8. Accordingly, the writ petition is disposed of Miscellaneous applications pending, if any, shall stand closed. However, there shall be no order as to costs SD/. S. MALLIKARJUNA RAO ASSISTANT REGISTRAR /' //TRUE COPY// a SECTIOII OFFTCER To 1. The Central Bank of lndia, Himayath Nagar Branch 3-5-943194 1A, Gandhi Kuteer Colony Narayanguda, Hyderabad. Z Aulhorised Signatory and Partner Mrs. Thota Radhika Siddhi Vinayaka Ihp lndustries, Rl/o l.. No. 7-1-671711 , Dharam Karan Road Ameerpet, Hyderabad. 3. The Reliance Asset Reconstruction Company Ltd, Reg. Office at Reliance p. entle 6th Floor Off. Western Express Highway Santacruz (East) f9$fr [Vjng Mumbai-400055 4. The Official Liquidator Hon'ble High Cou( of State of Telangana and Attached to the. Hon'ble High Cou( of AP M/s Sunrise Oleo Chemicals Ltrl. (ln Liquidation). 5. The State Bank of lndia (SBB 2J), 101, first floor, Raj Bhavan, Hyderabad. 6.
One CC to SRI KANDHIKA KARUNAKAR Advocate [OPUC] 7. Two CD Copies. BSK HIGH COURT DATED:2 511112024 SrA16: 19. \\ l i':ri ? tZ{ 3,j i : s. t c" --,, \_ a::-- ORDER WP. No. 29021 ot 2024 DISPOSING OF THE WRIT PETITION WITHOUT COSTS f= tt Lr)/1
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