IN THE HIGH COURT OF JUDICATURE, ANDHRA PRADESH AT HYDERABAD (Special Original Jurisdiction) WEDNESDAY, THE THIRD DAY OF MARCH TWO THOUSAND AND NINE PRESENT THE HON'BLE MR JUSTICE GHULAM MOHAMMED and THE HON'BLE MR JUSTICE VILAS V. AFZULPURKAR WRIT PETITION NO : 10855 of 2009 Between: Himagiri Cold Storage Pvt. Limited, Rep by its Managing Director, Sri Narne Sambasiva Rao, S/o. Pullaiah, aged 55 years, Occ: Business, D.N o.86, Ankireddypalem, Nallapadu, Guntur, Guntur District. ..... PETITIONER AND 1 The Government of Andhra Pradesh, Rep by its Principal Secretary, Food and Agriculture Department, Secretariat, Hyderabad. 2 Axis Bank Ltd., Rep by its Branch Head & Asst. Vice Presiden Sri yadavalli Sarath Chandra, S/o. Yadavalli Sarath Chandra, S/o. late Murali Mohan, aged 40 years, I Floor, P.R. Plaza, Naaz Centre, Guntur-I, Guntur, Guntur District. .....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 to issue any writ order or direction more particularly a writ in the nature of mandamus declaring the action of the 2nd respondent in issuing the notice No.AXISB/CO/LAW/09-10/11, dated 11-05-2009 under Sec. 13(2) of Securitization Act 2002 as illegal, arbitrary, unconstitutional and violative of principles of natural justice and consequently set aside the notice dated 11-05-2009 as the petitioners were not given any opportunity of accounts and without adjusting the amounts paid by them towards the loans and to pass Counsel for the Petitioner:MR.M.JANARDHAN RAO Counsel for the Respondent No.: GP FOR AGRICULTURE The Court made the following : ORDER: (Per Sri Justice GHULAM MOHAMMED) This Writ Petition has been filed questioning the action of the second respondent in issuing the notice No. AXISB/CO/LAW/09-10/11, dated 11.5.2009 under Section 13(2) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, (for short “the Act”) as illegal, arbitrary and consequently set aside the notice-dated 11.5.2009. This Writ Petition is premature inasmuch as the respondents have issued notice under Section 13(2) of the Act. The petitioner can file objections or reply to the said notice indicating all pleas, which are permissible under law. The provisions of the Act provide that the respondents can pass order under Section 13(4) of the Act on the reply filed by the petitioner. As remedy of appeal is also available under Section 17 of the Act, it is open for the petitioner to avail the remedy of appeal provided under Section 17 of the Act. As the Writ Petition is premature and the remedy of appeal is provided under the Act, we see no grounds to entertain the Writ Petition. Accordingly, the Writ Petition is dismissed. There shall be no order as to costs. _____________________________ GHULAM MOHAMMED, J ______________________________ VILAS V. AFZULPURKAR,J Dt. 03.06.2009 KA ..... REGISTRAR // TRUE COPY // SECTION OFFICER To 1 The Government of Andhra Pradesh, Rep by its Principal Secretary, Food and Agriculture Department, Secretariat, Hyderabad. 2 Axis Bank Ltd., Rep by its Branch Head & Asst. Vice Presiden Sri yadavalli Sarath Chandra, S/o. Yadavalli Sarath Chandra, S/o. late Murali Mohan, aged 40 years, I Floor, P.R. Plaza, Naaz Centre, Guntur-I, Guntur, Guntur District. 3. Two CC to G.P. for Agriculture, High Court of A.P, Hyderabad OUT. 4. 2 CD Copies