IN THE HIGH COURT OF JUDICATURE, ANDHRA PRADESH AT HYDERABAD (Special Original Jurisdiction) WEDNESDAY, THE TWENTY FIRST DAY OF JULY TWO THOUSAND AND FOUR PRESENT THE HON'BLE SRI DEVINDER GUPTA,THE CHIEF JUSTICE and THE HON'BLE MR JUSTICE C.V.RAMULU WRIT PETITION NO : 18267 of 2003 Between: M/s G.N. Products Pvt. Ltd., (Kotari Mills), Aluru Road, Adoni,. rep. by its Managing Director. Naghabushana Rao . ..... PETITIONER AND 1 The Union of India rep. by its Secretary Minister of Law, Sastri Bhavan, R.P. Road, New Delhi 2 Sree Mahayogi Lakshmamma Co.op. Bank Ltd., No. 72, Flower Bazar, Adoni,. rep. by its Manager. .....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 order or orders or a writ more particularly one in the nature of writ of Mandamus declaring the Securitization & Reconstruction of financial Assets & Enforcement of security interest Act, 2002, more particularly section 13(2) and 13(4)as invalid and violative of the rights of the petitioner guaranteed under the constitution of India and consequently declare the notice under ref.No. SML. Bank: and 3-4-73, dated 24-6-2003 issued by the 2nd respondent under section 132(2) of the Act as arbitrary, violative of principles of Natural Justice and article 14, 19(1) ()g) and 300A of constitution of India Counsel for the Petitioner:MR.K.V.SESHAGIRI RAO Counsel for the Respondent No.1: MR. A. RAJASEKHAR REDDY(SC FOR CG) Counsel for the Respondent No.2: MR.P.B.VIJAY KUMAR The Court made the following : ORAL ORDER: (per Hon”ble Sri Devinder Gupta, The Chief Justice) In view of the decision of the Hon’ble Supreme Court in Transfer Case (Civil) No.92- 95 of 2002, dated 8th April, 2004 [MARIDA CHEMICALS LTD v UNION OF INDIA AND ORS], 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 in this Writ petition cannot be granted. Writ petition is, therefore, dismissed. _____________________ DEVINDER GUPTA, CJ. _____________________ 21st July, 2004 C.V.RAMULU, J. Pnb/Jsu To 1 The Secretary, Union of India, Minister of Law, Sastri Bhavan, R.P.Road, New Delhi 2 The Manager, Sree Mahayogi Lakshmamma Co.op. Bank Ltd., No. 72, Flower Bazar, Adoni, Kurnool District. 3 2CD copies.