WP/7791/2003 of COUNTRY CLUB LTD HYDAND2 ORS Vs SECRY MINISTRY OF LAW NEW DELHIANDANR on 31 December 2004

1.. M/s. Country Club (I) Limited,

having its Registered office at 5-9-16,

Amrutha Castle, Opp: Secretariat,

Hyderabad

Rep by its Managing Director Y.Rajeev Reddy

2.. Amrutha Estates, a partnership firm

having its office at 8-2-703,

Amrutha Valley, Road No. 12, Banjara Hills, Hyderabad Rep by its Managing Partner Y.Rajeev Reddy

3.. Amrutha Estates Private Limited,

having its Registered office at 8-2-703, Amrutha Valley, Road No. 12, Banjara Hills, Hyderabad Rep by its Managing Director, Y.Rajeev Reddy

AND

1.. Union of India,

represented by its Secretary,

Ministry of Law, Shastri Bhavan,

R.P.Road, New Delhi

2.. The Prudential Cooperative Bank Limited having its Registered office at 8-1-381

R.P.Road, Secunderabad,

Rep by its Authorised Officer/Assistant General Manager

...RESPONDENTS

Petition under Article 226 of the constitution of India praying that in thecircumstances stated in the Affidavit filed herein the High Court will be pleased toissue a writ of mandamus or any other writ or writs, order or direction, declaring TheSecuritisation & Reconstruction of Financial Assets and Enforcement of SecurityInterest Act, 2002, more particularly sections 13, 15 & 34 thereof, as beingunconstitutional, illegal, arbitrary and violative of Article 14 , 19 (1)(g) and 300-A ofthe Constitution of India and consequently quash the notice dated 22-4-2003 issuedin Ref.No.PCB/RP/AR/ESI/329/03-04 /EM2541 on the file of the 2[nd] respondent;award costs and pass such other or further orders as are deemed fit and proper inthe circumstances of the case.

Counsel for the Petitioner:MR.K.RAGHUVEER REDDY

Counsel for the Respondent No.1: Mr.A.RAJASHEKAR REDDY

Standing Counsel for Central Govt.

Counsel for the Respondent No.2: MR.S.ASHOK ANAND KUMAR

The Court made the following :

W.P.No.7791 of 2003

HCJ, & MNR,J

ORDER: (Per Hon’ble the Chief Justice)

In view of the decision rendered by the Hon’ble Supreme Court in Transfer Case

(Civil) No. 92-95 of 2002, dated 8[th] April, 2004 (MARDIA CHEMICALS LTD v.UNION OF INDIA AND OTHERS), challenge to the provisions of the Securitisationand Reconstruction of Financial Assets and Enforcement of Security Interest Act,2002, is not tenable and for that reason, relief prayed for cannot be granted.

The writ petition, therefore, is dismissed.

________________________DEVINDER GUPTA, C.J._________________________M.NARAYANA REDDY, J

31-12-2004

bsc

..... REGISTRAR

To

1.. The Secretary,

Union of India,

Ministry of Law, Shastri Bhavan,

R.P.Road, New Delhi

2.. The Authorised Officer/Assistant General Manager The Prudential Cooperative Bank Limited having its Registered office at 8-1-381

R.P.Road, Secunderabad,

3. 2 CD copies

Form-NIC-OGS/WP{}