1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY NAGPUR BENCH, NAGPUR. Writ Petition No.3550 of 2008 [Mah. Dal Industries & another Vs. Khamgaon Urban Co-op. Bank Ltd. & another] Office Notes, Office Memoranda of Coram appearances, Court's orders or directions Court's or Judge's Orders and Registrar's orders. Mr. R.L. Khapre, Adv., for the petitioners. Mr. S.P. Deshpande, Adv., for respondent no.1. Mr. S.K. Mishra, Asstt. Solicitor General for respondent no.2. ----- Coram : B.H. Marlapalle AND A.H. Joshi, JJ. Dated : 19th December, 2008. Mr. Khapre, the learned counsel for the petitioners, states that the bids received in response to the proclamation issued by the petitioners are not acceptable to the Bank. Even otherwise, no specific information is placed before us regarding the bids received by the petitioners consequent to the order passed by us on 2nd December, 2008. Be that as it may, both the parties agree that the petitioners should be granted some time to approach the Debts Recovery Tribunal so as to file an appeal under Section 17 of the Securitization and Re- construction of Financial Assets & Enforcement of Security Interests Act, 2002 [For short “the Securitization Act”], and more so, when the Notification dated 28th 2 January, 2003, as issued by the Govt. of India, has not yet been stayed by the Supreme Court. Consequently, the remedy available under Section 17 of the Securitization Act is still intact for the petitioners, as the respondent-Bank would continue to be within the ambit of the Securitization Act. Hence the petition is disposed off as withdrawn with liberty to the petitioners to approach the Debts Recovery Tribunal at Nagpur, and if the petitioners file an appeal under Section 17 of the Securitization Act before the Tribunal within a period of two weeks from today, the ad interim relief granted in this petition shall continue to operate for the said period of two weeks. In the appeal to be filed, if there is an issue of condotnation of delay, the period of pendency of this petition from 29th July, 2008 before this Court shall be taken into consideration by the Tribunal, and the application for interim relief shall be considered by the Tribunal on its own merits and without being influenced by the ad interim order passed by this Court. All rights and contentions of the parties are left open. JUDGE JUDGE |hedau|