1 WPL-2111-10 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION WRIT PETITION (L) NO. 2111 OF 2010 Kanchan Jaiprakash Chamaria ..Petitioner versus The Union of India & Ors. ..Respondents Mr. Mathews J. Nedumpara with Ms. Rohini M. Amin for Petitioner. Ms. S. M. Dandekar, Assistant Government Pleader for Respondent Nos. 2 and 7. Mr. Y. R. Naik for Respondent No. 4. CORAM : DR. D. Y. CHANDRACHUD & ANOOP V. MOHTA, JJ. 13 January 2011. P.C. : The Petitioner has already filed an Appeal under Section 17 of The Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act 2002. The bank has taken symbolic possession in pursuance of a notice that was issued under Section 13(4). The Chief Metropolitan Magistrate passed an order on 16 August 2010 authorizing the bank to take possession under Section 14. Since the Petitioner has already 2 WPL-2111-10 taken recourse to the alternate remedy available under Section 17, we do not propose to entertain this Petition under Article 226 of the Constitution of India. Counsel appearing for the Petitioner however seeks the liberty of the Court to espouse all rights and contentions of the Petitioner in the appeal, and, in the event of the appeal being decided against the Petitioner, to adopt appropriate proceedings including by way of a challenge to the Notification dated 28 January 2003 issued under Section 2(c)(v) of the Securitisation Act. In the circumstances, while we decline to entertain the Petition under Article 226 of the Constitution of India on the ground that the Petitioner has already espoused the remedy which is available under Section 17 of an appeal before the DRT, we keep all the rights and contentions of the parties open. Since the bank has taken only symbolic possession at the present stage, we direct that for a period of four weeks from today, the status quo shall be maintained within which period it would be open to the Petitioner to seek interlocutory reliefs before the Tribunal. 2. The Petition is accordingly disposed of. No costs. (Dr. D. Y. Chandrachud, J.) (Anoop V. Mohta, J.)