IN THE HIGH COURT OF JUDICATURE, ANDHRA PRADESH AT HYDERABAD (Special Original Jurisdiction) TUESDAY, THE TWENTY THIRD DAY OF JUNE TWO THOUSAND AND NINE PRESENT THE HON'BLE MR JUSTICE GHULAM MOHAMMED and THE HON'BLE MR JUSTICE VILAS V. AFZULPURKAR WRIT PETITION NO : 6891 of 2008 Between: Sri Satyanarayana Modern Rice Mill, No.19-12-112, Rest House Road, Bhimavaram, West Godavari, Rep. by its Proprietor Pudi Rama Durga, S/o. Appalaswamy, age: 59, R/o. Bank Colony, Bhimavaram, West Godavari District. ..... PETITIONER AND 1 M/s.ICICI Bank Ltd., ICICI Bank Towers, Bandra- Kurla Complex, MumbaI, Rep. by its Managing Director. 2 M/s.ICIC Bank Ltd., 46-22-11, Karri Suri Reddy Plaza, Danavaipet, Rajahmundry, rep. by its Authorised Signatory. .....RESPONDENT(S) Petition under Article 226 of the constitution of India praying that in the circumstances stated in the Affidavit filed herein the High Court will be pleased to issue an appropriate writ, order or direction more particularly one in the nature of writ of Madamus declaring the action of the respondents in issuing notice dated 15-1-2008 as arbitrary, illegal, violative of Principles of natural justice and the fundamental right guaranteed under Constitution of India and contrary to the provisions of Securitisation and Reconstruction of Financial Assets and Enforcement Security Interest Act, 2002 ( SRFAESI Act. ) , and to set aside the same and pass Counsel for the Petitioner: MR.BALAJI MEDAMALLI Counsel for the Respondents: MR.J.LOKESH REDDY The Court made the following : THE HON’BLE SRI JUSTICE GHULAM MOHAMMED AND THE HON’BLE SRI JUSTICE VILAS V. AFZULPURKAR W.P.No. 6891 of 2008 ORDER: (Hon’ble Sri Justice Ghulam Mohammed) It is submitted by Mr. R.L. Narsimha Phani, counsel representing on behalf of standing counsel for respondents that the petitioner has already filed a Securitisation Application before the concerned Debt Recovery Tribunal against the notice dated 15.1.2008 issued by the respondents, which is challenged in this writ petition, and he can as well raise those pleas which are raised in this writ petition. Since alternative remedy available under the Securitisation and Reconstruction of Financial Assets and Enforcement Security Interest Act, 2002 has been availed of by the petitioner, this writ petition cannot be entertained and it is accordingly dismissed. No order as to costs. _____________________________ JUSTICE GHULAM MOHAMMED ________________________________ JUSTICE VILAS V. AFZULPURKAR Dt. 23.6.2009 KR ..... REGISTRAR // TRUE COPY // SECTION OFFICER To 1) 2 CD copies Form-NIC-OGS/WP{KSRANI}