WP/7809/2003 of Y. MANJULA REDDY AND 6 ORS Vs MINISTRY OF LAW NEW DELHI AND ANR on 31 December 2004

1.. Y.Manjula Reddy W/o. Y.Rajeev Reddy

aged 44 years, R/o. Plot No. 15

Nandigiri Coop House Building Society,

Jubilee Hills, Hyderabad

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

4.. Y.Rajeev Reddy S/o. Y.Chinnappa Reddy aged 47 years R/o. Plot No. 15

Nandigiri Coop House Building Society,

5.. Y.Chinnappa Reddy S/o. Y.S. Pedda Konda Reddy aged 75 years, R/o. Plot No. 13, Nandigiri Coop House Building society, Jubilee Hills, Hyderabad

6.. Shourilamma W/o. Late Dr.K.L.Reddy

Aged about 75 years

R/o. Plot No. 14, Nandigiri Coop House Building Society

Jubilee Hills, Hyderabad

Presently residing at USA represented through her GPA Holder, Y Rajeev Reddy (4[th] petitioner)

7.. Smt. P.Sujatha Reddy W/o. P.Showri Reddy aged 42 years R/o. Plot No.10, Umanagar, Kundanbagh, Begumpet, Hyderabad

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,

..... PETITIONERS

.....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 22-3-2003 issuedin Ref.No.PCB/RP/AR/ESI/84/03-04/EM 2944 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.2 : Mr.S.ASHOK ANAND KUMAR

Counsel for the Respondent No.1: Mr. A.Rajasekhara Reddy, Standing Counsel for Central Govt.

The Court made the following :

W.P.No.7809 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

// TRUE COPY //

To

1. The Secretary,

Union of India,Ministry of Law, Shastri Bhavan,R.P.Road, New Delhi2. The Authorised Officer/Assistant General ManagerThe Prudential Cooperative Bank Limitedhaving its Registered office at 8-1-381R.P.Road, Secunderabad,3. 2 CD copies SECTION OFFICER