1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY O. O. C. J. WRIT PETITION (LODG.) NO.341 OF 2009 Sadanandrao Gopalrao Padbidri ..Petitioner. Vs. State of Maharashtra ..Respondent. .... Mr. Sandip Ghogre with Mr. T. Radhakrishna for the Petitioner. Mr. V.R. Dhond i/b V. Deshpande & Co. for Respondent NO.2. .... CORAM: DR. D.Y. CHANDRACHUD, J. & RAJESH G. KETKAR, J. 3rd April, 2009. P.C. : At the hearing of the Petition, Counsel appearing for the Petitioner and the Second Respondent have agreed to the following order being passed by the Court in terms of the statement of the learned counsel without any further recording of reasons : i) Counsel appearing for the Second Respondent states that the Second Respondent shall proceed to take formal or symbolic possession of the secured assets within a period of two weeks from today. Thereupon it will be open to the Petitioner to take recourse to the remedy available under Section 17 of Securitization and 2 Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 before the Debt Recovery Tribunal; ii) In the event that within a period of two weeks of applying to the Debt Recovery Tribunal the Petitioner fails to obtain any order of restraint, it will be open to the Second Respondent to take possession of the secured assets; iii) In view of the aforesaid arrangement that has been arrived at between the parties, it has been stated on behalf of the Petitioner that the Petitioner shall take steps to withdraw Criminal Misc. Application 5 of 2009 before the Chief Metropolitan Magistrate, Mumbai. The Petition is accordingly disposed of. DR. D.Y. CHANDRACHUD, J. RAJESH G. KETKAR, J.