Jenkin & Jeffrey Edible Oil Pvt. Ltd. v. State Bank of India, through its Chief Manager
2014-09-24
M.JAICHANDREN, R.MAHADEVAN
body2014
DigiLaw.ai
Judgment M. Jaichandren, J. 1. Heard the learned counsels appearing on behalf of the parties concerned. 2. This Writ Petition has been filed praying that this Court may be pleased to issue a Writ of Certiorarified Mandamus to call for and quash the notice, dated 31.05.2013, issued by the first respondent bank, under Section 13(2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 and to direct the respondents to honour the agreement entered between the petitioner and the respondents made before the District Legal Services Authority, Trichy, on 08.03.2012 and pass appropriate order. 3. It is found that, in the present Writ Petition, the petitioner has challenged the notice issued by the respondent Bank, dated 31.05.2013, under Section 13(2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as 'the Act'). 4. We are of the considered view that the Writ Petition filed by the petitioner is pre-mature in nature, as the notice issued under Section 13(2) of the Act, by the respondent Bank, is only a demand made by the first respondent Bank, with regard to the amounts liable to be paid by the petitioner. It is also noted that the respondent Bank had not initiated any further proceedings against the petitioner under the Act. Therefore, if the respondent Bank proceeds against the petitioner, as per the Act, it may be open to the petitioner to challenge the same before the appropriate forum, in the manner known to law. 5. As such, the Writ Petition stands dismissed, as it is pre-mature in nature. Consequently, the connected miscellaneous petition is closed. No costs.