IN THE HIGH COURT OF JUDICATURE, ANDHRA PRADESH AT HYDERABAD (Special Original Jurisdiction) MONDAY, THE FOURTEENTH DAY OF DECEMBER TWO THOUSAND AND NINE PRESENT HON’BLE SRI JUSTICE A.GOPAL REDDY AND HON’BLE SRI JUSTICE SAMUDRALA GOVINDARAJULU WRIT PETITION No.27212 of 2009 Between: M/s.Sree Parimala Projects, represented by its Managing Partner P.Narsimhulu and five others … Petitioners And Indian Overseas Bank, represented by its Authorised officer/Chief Manager. … Respondent This Court made the following: HON’BLE SRI JUSTICE A.GOPAL REDDY AND HON’BLE SRI JUSTICE SAMUDRALA GOVINDARAJULU WRIT PETITION No.27212 of 2009 ORDER: - (Per Hon’ble Sri Justice A.GOPAL REDDY) This writ petition is filed challenging the possession notice dated 13.10.2009 issued under Section 13(4) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short, “ the SARFAESI Act”) by the respondent-Bank. No reasons were assigned by the petitioners as to why the appellate remedy provided under Section 17 of the SARFAESI Act, which is an efficacious and alternative remedy, was not availed before invoking the jurisdiction of this Court under Article 226 of the Constitution of India. In view of the efficacious alternative remedy available to the petitioners, the present writ petition cannot be entertained. Accordingly, the writ petition is dismissed granting liberty to the petitioners to avail the alternative remedy of appeal. No costs. ___________________ (A.GOPAL REDDY, J) _________________________________ (SAMUDRALA GOVINDARAJULU, J) 14th December 2009 LMV