WP/6780/2003 of V.SREENIVASULU REDDY. HYDERABAD Vs SECRETARY. MINISTRY OF LAW. NEW DELHI on 31 December 2004

1. V.Sreenivasulu Reddy S/o. V.Vema Reddy aged 28 years R/o. 6-3-392/B, Punjagutta, Hyderabad

2. Y.Rajeev Reddy S/o. Y.Chinnappa Reddy aged 47 years R/o. Plot No. 15, Nandigiri Hills Jubilee Hills, Hyderabad

3. Y.Chinnappa Reddy S/o. Y.S. Pedda Konda Reddy aged 75 years, R/o. Plot No. 13, Nandigiri Hills, Jubilee Hills, Hyderabad

4.. Shourilamma W/o. Late Dr. K.L. Reddy aged about 75 years, R/o. Plot No. 14, Nandigiri Hills, Jubilee Hills, Hyderabad Presently residing at USA rep. through her G.P.A. holder Y.Rajeev Reddy (2[nd] petitioner)

AND

..... PETITIONERS

1. Union of India,represented by its Secretary,Ministry of Law, Shastri Bhavan,R.P.Road, New Delhi

2. The Prudential Cooperative Bank Limitedhaving its Registered office at 8-1-381R.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 22-3-2003 issuedin Ref.No.PCB/RP/AR/ESI/86/G4/02-03 the file of the 2[nd] respondent; award costsand pass such other or further orders as are deemed fit and proper in thecircumstances 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 :

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

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, Registered office at 8-1-381

R.P.Road, Secunderabad.

3. 2 CD copies