J. Neela v. Authorized Officer/Chief Manager, State Bank of India, Trichy
2014-09-19
M.JAICHANDREN, R.MAHADEVAN
body2014
DigiLaw.ai
Order (M. Jaichandren, J.) 1. Heard the learned counsels appearing on behalf of the parties concerned. 2. It is found that, in the present Writ Petitions, certain issues had arisen, relating to the action initiated by the respondent banks concerned, under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. (hereinafter referred to as 'the Act') 3. Since common issues are arising for the consideration of this Court, all the Writ petitions are heard together and a common order is being passed. 4. At this stage of the hearing of the Writ Petition, the learned counsel appearing on behalf of the respondent banks concerned had submitted that before taking possession of the property in question, they would follow the dictum laid down, in K.Arockiaraj Vs Chief Judicial Magistrate Court, reported in 2013 (5) CTC 225 , Harshad Govardhan Sondagar Vs. International Assets Recn. Co. Ltd, reported in 2014 (6) SCC 1, as well as the provisions contained in Section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. 5. In view of the submissions made by the learned Standing Counsel appearing on behalf of the respondent banks concerned, as no further orders are necessary, the Writ Petitions stand closed. Consequently, the connected miscellaneous petition are closed. No costs.