WP/18046/2020 of M/s. Ameya Laboratories Ltd Mazdoor Sangh and 9 Others Vs Asset Reconstruction Company India Limited (Arcil) and 6 Others on 31 December 2020

HIGH COURT FOR THE STATE OF TELANGANAAT HYDERABAD(Special Original Jurisdiction)

THURSDAY, THE THIRTY FIRST DAY OF DECEIVBERTWO THOUSAND AND TWENTY

PRESENT

THE HON'BLE SRI JUSTICE A.RAJASHEKER REDDYANDTHE HON'BLE SRI JUSTICE K.LAKSHMAN

WRIT PETITION NO: 18046 OF 2020

Between;

'1 . lt//s. Ameya Laboratories Ltd Mazdoor Sangh, (formarly known asM/s. Anu's Laboratories Ltd lMazdoor Sangh), Offie at. Unit-lll, Plot No.272, 273,280 and 281, IDA Pashamylaram-lsnapur, Sangareddy District.Rep. by its. Ex. General Secretary K. Umashankar Reddy.2. Somidi Maheshwar, S/o.Somidi Mondaiah, H. No.5-168/4a, ChandranagarColony, HIVT, IDPL, Balanagar, Hyd.3. Subhash Narayan Surya Wanshi, S/o.Narayan Bhaurao Suryawanshi,H.No B-24l401 , Mahaveer Vatica CHS, Sai Nagar, Old Panvel, Newtr/umbai, Raighad-Dist, lt/R.4. lvlekala Naga Raju, S/o. I\,4. Krishnaiah, H.No. 2-68192132, MLR Colony,Chengicherla, Boduppal, Hyd-92.5. Vidya Nagar, New K. Dattatreya Chary, tvlig, S/o. Phase-2, B.H.E.L, K.Brahmaiah Chary, H.No. Hyd.3727 , Road No.8,6. Battu Vikram, S/o. SagarRao, H.No.5-99/158, Road No.4, Sri SuryodayaColony, Patel Guda (V), Ameenpur (M), Sanga Reddy (D).7. G.Venkateshwar Rao, S/o. Ranga Rao, Flat No. ['103, ]Naresh Enclave,Near Shiva Krishna Theatre, Kondapally-Ap-521228.B. Tummala Bapaiah Choudary, S/o.Gangadha Rao, H.No 48-2111 ,Qutubullapur, Ram Reddy Nagar, Chinthal Hyd.9. Silveru Ravi, S/o. Veeresham, H.No. 6-6612 lsnapur X-Road,Patancheru(lvl), Sangareddy (D)-502307-T. S.10. Narsimha Rao Chalamalashetty, S/o. Ch. Pandu Ranga Rao,Road' Qutubullapur' H.No. 6-264/13111A42, Hyd Hal Raghavendra Colony, Road No.'1 , Suchithra...pETrroNERS1. Asset Reconstruction Company lndia Limited (Arcil), Office fll BuwanaTowers, 2nd Floor 207, S D Road, Secunderabad 500003,Rep. By lts Authorized Officer Chaithanya Kiran Reddy, Secunderabad,Hyderabad.2. 52 Engineering Services, Having lts Registered Office At Sy. No. 53/4,Bahadurpally Village, Medchal Malkajgiri District, Hyderabad,Rep. K. Nageshwara Rao.3. Sri. Kandula Ramakrrshna, Managing Director, 52 Engineering Services,S/o.Sri. K. Appa Rao, Aged About 43 Years, F/O. H. No. 4-32-336, PtotNo. 189/A, Lb Nagar, Shapur Nagar, Medchal Malkajgiri District,Hyderabad.4. Smt. Kandula Krishna veni, W/o. K. Nageshwara Rao, aged about 40years, Plot No.262, Shapoor Nagar, IDA Jeedimetla, Qutubullapurltlandal, Shapur Nagar, lvledchal Malkajgiri District, Hyderabad.5. tr//s. Virupaksha Organics Limited, registered address is Plot No. B-4, lDA,Balanagar, Ir/edchal-lvlalkajgiri (District), Hyderabad, TS - 500037 lN.6. lV/s. Ame-ya Laboratolgg Lid , (formarly knbwn as Anuis Laboratories Ltd),Rep. by Office of the Official Liquidator, Corporate Bhavan, ThattiAnnaram, Bandlaguda, Hyderabad. ,7. The Sub-Registrar, SRO, Sangareddy, Office a{ Kandi, Sangareddy....RESPONDENTS

AND

Petition under Article 226 of lhe Constitution of lndia praying that in thecircumstances stated in the affidavit filed therewith, the High Court may bepleased to a. lssue a writ of certiorarifjed mandamus or other appropriate writorder or direction calling for the records of the Respondents pertaining to theimpugned Sale Notice dated 1 110312020 issued under Rule 6 of Sub-Rule

2 and Rule 8 Sub [. ][Rule ][6 of the ][Security lnterest (Enforcement) Rules, ][2002],no srre certificate [vide Doc ][No. ][19596'of ][2O2O ][dated ][171o712020 ][registered]*iir.r tn" SRO [Sangareddy issued ][by ][the ]['1 ][st ][Respondent ][in ][favour ][of ][2nd]under [6ection ][13 ][of the ][Securitisation ][Act and ][Rules ][B ][and ][I ][of]n".ponO"nt in. ["S".riity ][lnterest ][(Enforcement) ][Rules, ][2002 ][and ][consequential ][records]unaer section [13(a) ][oi ][the Act, ][if ][any, and valuation report obtained by ][the-]autnoriseO otticei [(i.e., ][the ][Respondent ][No ][l ][), ][if ][any ][b' ][lssue ][a ][writ ][of]mandamusorotherappropriatewritorderordirectlondirectingRespondentNo.1 and 2 to set [aside ][ail ][actions initiated ][by ][the ][1 ][st ][Respondent ][ilcl$119]issuanceofSaleCertificateVideDocNo.l9596of2020daledlTl0T12020*E.i"i"o with the [SRO ][Sangareddy in ][pursuant to ][the ][lmpugned ][Notice dated]tliOltZOiO [pubtished ][under ][Rule ][ti(O) ][ot tf,e ][Security lnterest ][(Enforcement)]nrrli,looz [rnd ][the ][Securitisation and Reconstruction ][of ][Financial ][Assets ][and]Enforcement of [Security ][tnterest ][Act, 2002. ][c. ][lssue ][such other ][appropriate ][writ]or direction or order(s) [ihat ][may ][be ][deemed ][to ][be ][just and equitable ][in ][the facts]and circumstances [of ][the case and ][in ][the ][interest ][of ][justice']

IA NO 10F20

Petition under section [15'1 ][CPC praying ][that ][in ][the ][circumstances stated ][in]the affidavit filed [in ][support ][of the ][petition, ][the ][High Court may ][be ][pleased ][to]directtheRespondentstomaintainStatusquofromfurtheralienatingor;;irg any crrarge in [favour ][of ][any ][third parlies in any ][manner ][in ][respect.of]sate c6rtiticate [vide Doc ][No. ][19596 ][of 2o2o ][dated ][1710712020 ][registered ][with]the SRO SangareddY.

Counsel for the [Petitioner: ][SRI D. NARENDER NAIK, ][FOR]SRI D. RAJASHEKAR

Counsel forthe [Respondent ][No.1: ][SRI ][P' ][SRI HARSHA REDDY]

Counsel forthe [Respondent ][Nos.2 ][to ][4: ][SRI ][B' ][CHANDRASEN REDDY]

Counsel for the Respondent [Nos.S & ][7:----"]

Counsel for the [Respondent No.6: ][SRI ][J.SRINADH ][REDDY, OFFICIAL LIQUIDATOR]

The Court made [the ][following: ][ORDER]

THE HONOURABLE SRIJUSTICE [K. ][LAKSHMAN]

Writ Petition No.18046 o12020

ORDER:[(Per ]Sri Justice [A. ][Raiasheker ][Reddv)]

This writ [petition ]is filed [with ][the following ][prayer;]

"a. To issue a writ of certiorari, mandamus or other appropriate [writ,]order or direction calling [for ][the ][records ][of ][the ][respondents pertaining ][to ][the]impugned -8 sale notice daled [11.03.2020 issued under Rule ][6 of ][Sub-Rule ][2 ][and]Rule sub-Rule 6 of the Security lnterest (Enforcement) Rules, 2002 and SaleCertificate vide Doc. [No.1 ]9596 [of ][2020 ][daled ][17 ][.07 ][.2020 ][registered ][with ][the]SRO Sangareddy [issued ][by ][the ][1"r ][respondent ][in ][favour ][of-2nd ][respondent under]Section 13 of the [Securitisation ][Act and ][Rules ][8 ][and ][9 ][of ][the ][Security ][lnterest](Enforcement) Rules, 2002 and consequential [records under Section 13(4) of]in" n"t, it any; and valuation [report ][obtained by the ][authorized ][officer ][(i ][e ][, ][the]respondent 'b. 'b. No.1 ) [[if ]]any;

respondent 'b. 'b. No.1 ) [[if ]]any;To issre a writ of mandamus or other appropriate writ order or directionairectlng rlspondent [Nos.1 ][and ][2 to ][set ][aside ][all ][actions initiated ][by ]th9 l :'respond;nt including [issuance ][of ][Sale ][Certificate ][vide ][Doc No 19596 ][of ][2020]dated 17.07.2020 [registered ][with ][the ][SRO ][Sangareddy ][in ][pursuant ][to ][the]dated [11.03.2020 ][published under Rule ][8(6) ][of ][the ][Security]impugned notice lnterjst [(Enforcement) ][Rutes, ][2OO2 ][and ][the Securitisation and Reconstruction ][of]Financial Assets and [Enforcement ][of ][Security lnterest ][Act, 2002 ][and ][to ][issue]such other appropriale [directions"]

2. HeardSriD.NarendarNaik,learnedcounselforthepetitioners,SriP.SriHarshaReddy,learnedcounselforrespondentNolandsri B. Chandrasen [Reddy, learned counsel ][for ][respondent Nos.2 ][to 4 ][and]Sri J. Srinadh Reddy, [learned counsel ][for ][official ][Liquidator ][for ][respondent]No.6.3. At the hearing, learned [counsel ][for the ][petitioners ][seeks ][permission]to withdraw the writ [petition. ][However, learned counsel ][for ][official]Liquidator submits [that ][as ][the ][property ][was grossly ][undervalued ][even ][as]per the petitioners in their [writ affidavit, ][petitioners ][cannot be ][permitted ][to]withdraw the writ [petition ][and ][liberty ][may ][be ][granted ][to ][the ][Official]Liquidator to take [appropriate ][steps ][against ][the ][auction ][conducted ][by]respondent No.1 [regarding ][under ][valuation ][of ][the property']4. lf property is undervalued [and ][sold,. ][it ][is ][open ][for the ][Official]Liquidator to take [appropriate ][action ][regarding ][under ][valuation ][if ][law]permits,butthatissuecannotbedec|dedinthiswritpetitionwhenpetitionersdoesnotwanttoprosecutethiswritpetition.lnviewofSame, permission is [granted ]to withdraw [the ][writ ][petition and ][the ][writ ][Petition ][is]dismissed as [withdrawn ][with ][liberty ][to ][offlcial ][Liquidator ][as ][indicated]above.

5. lnterim order [granted ]by this [Court ][on ][19.11.2020 ][shall ][stand]vacated. No order as to costs. [Miscellaneous petitions, ][if ][any, pending ][in]this writ [petition ]shall stand [dismissed.]

SO/. M.RAMANA KRISHNAASSISTANT REGISTRAR

//TRUE COPY//

SECTION OFFICER

To1One CCto Sri D. Rajashekar, Advocate IOPUC]One CCto Sri P. Sri Harsha Reddy Advocate [OPUC]1One CCto Sri D. Rajashekar, Advocate IOPUC]One CCto Sri P. Sri Harsha Reddy Advocate [OPUC]3One CCto Sri B. Chandrasen Reddy, Advocate [OPUC]4One CCto Sri J. Srinadh Reddy, Official Liquidator, Advocate [OPUC]ATwo CD CopiesSMdyr/4One CCto Sri J. Srinadh Reddy, Official Liquidator, Advocate [OPUC]ATwo CD CopiesSMdyr/

HIGH [COURT]

DATED:31/1212020

ORDERWP.No.18046 [of ][2020]

DISMISSING THE [WP]AS WITHDRAWN,WITHOUT COSTS

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