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2017 DIGILAW 623 (JK)

Jhelum Industries v. Bank of India

2017-08-11

ALOK ARADHE, SANJEEV KUMAR

body2017
1. Record perused and heard learned counsel for the respondents. 2. In this petition, the petitioners have assailed the validity of the Notice dated 30.06.2015 issued under Section 13(2) of The Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act (for short ‘the SARFEASI Act’) and have sought a Writ of Prohibition restraining the respondents not to initiate any further action including the order under Section 13(4) of the SARFEASI Act’, unless the objections under Section 13(3)(a) of the SARFEASI Act along with counter claim of the petitioners is adjudicated. 3. A Bench of this Court while entertaining the writ petition had passed an interim order dated 18.01.2017, by which it was directed that in case the petitioners submit a representation, the respondents shall decide the same before proceeding further with the proceeding under the SARFEASI Act’. 4. When the matter was taken up today, learned counsel for the respondents submitted that in compliance of the interim order passed on 18.01.2017, the petitioners’ representation has been considered and rejected. 5. In view of the aforesaid submission made by learned counsel for the respondents, nothing survives for adjudication in this writ petition. Accordingly, the same is dismissed as infructuous.