IN THE HIGH COURT OF JUDICATURE, ANDHRA PRADESH AT HYDERABAD (Special Original Jurisdiction) THURSDAY, THE TWENTY FOURTH DAY OF JUNE TWO THOUSAND AND FOUR PRESENT THE HON'BLE SRI DEVINDER GUPTA,THE CHIEF JUSTICE and THE HON'BLE MS JUSTICE G.ROHINI WRIT PETITION NO : 14361 of 2003 Between: 1 M/s Sam Entertainment, a partnership firm represented by its Managing Partner Sri v.Michel Reddy 2 K.Sridhar s/o K.Vidyadhar Rao Plot No.41, Sy.No.125, 126, Vijaya Co-op House Buildings Society., Jubilee Hills., Hyderabad. 3 V.Michel Reddy s/o V.Sambasivam R/o 2-E, Mayfair Apartments, Road No.2., Banjara Hills.,Hyderabad. 4 B.Annapoorna w/o Himagiri rao R/o Alwal., Secunderabad. 5 P.Ramchander Rao s/o R/o Lothu gunta., Secunderabad. ..... PETITIONERS AND 1 Union of India, represented by its Secretary, Ministry of Law and Justice., Sastry Bhavan., New Delhi. 2 Reserve Bank of India, Saifabad, Hyd Principal Secretary, Govt.of A.P.Co- Operation Dept., Secretariat., Hyderabad. 3 State Bank of Hyderabad, represented by its Manager, Bellavista Branch, Somajiguda., Hyderabad. 4 B.Srinivasa Rao s/o B.Purushotham Rao R/o 6-3-630, Deviprasad; Anandanagar, Khairatabad., Hyderabad. .....RESPONDENTS 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 a Writ, order or direction more particularly one in the nature of Writ of Mandamus, declaring the action of the respondents in applying the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 to the facts of the case vide impugned notice dated 20-6-2003 issued by the 3rd respondent and if necessary declare the provisions of Secuiritisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 more particularly Sec.13, 15 and 34 as arbitrary, illegal, unjust,contrary to the law, in violation of fundamental rights guaranteed under Art.14,19 and contrary to Article 300-A of Constitution of India and issue consequential direction not to act upon the notice dated 20-6-2003 in exercise of any of the powers under Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 For the Petitioner:MR.T.S.ANAND For the respondent No.1: A. Rajasekhar Reddy, S.C. for Central Govt. For the Respondent Nos. 2 and 4: None appeared For the respondent No.3: Mr. K.V. Simhadri The Court made the following: Oral Order: (per Sri Devinder Gupta, CJ) In view of the decision rendered by the Hon’ble Supreme Court in Transfer Case (Civil) No. 92-95 of 2002, dated 8th April, 2004 (MARDIA CHEMICALS LTD v. UNION OF INDIA AND OTHERS), challenge to the provisions of the Securitisation and 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. ASSISTANT REGISTRAR // TRUE COPY // SECTION OFFICER To: 1. Secretary, Ministry of Law and Justice, Union of India, Sastry Bhavan., New Delhi. 2 Reserve Bank of India, Saifabad, Hyd Principal Secretary, Govt.of A.P.Co-Operation Dept., Secretariat., Hyderabad. 3 Manager, State Bank of Hyderabad, Bellavista Branch, Somajiguda., Hyderabad. 4 B.Srinivasa Rao s/o B.Purushotham Rao R/o 6-3-630, Deviprasad; Anandanagar, Khairatabad., Hyderabad. 5. 2CD Copies.