IN THE HIGH COURT OF JUDICATURE, ANDHRA PRADESH AT HYDERABAD (Special Original Jurisdiction) SATURDAY, THE EIGHTEENTH DAY OF OCTOBER TWO THOUSAND AND EIGHT PRESENT THE HON'BLE MR JUSTICE B.SESHASAYANA REDDY WRIT PETITION NO : 18675 of 2008 Between: M/s. Smith & Kenner Pharmaceuticals Pvt. Ltd., rep. by its Managing Director, Regd. Office:16-2-738/F/4, Asmangad, Malakpet, Hyderabad. ..... PETITIONER AND 1 State Bank of India, rep. by its Deputy General Manager, Stressed Assets Managements Branch, 1-1-78, Near Secunderabad HPO, R.P. Road, Secunderabad. 2 Asset Reconstruction Company of India Limited, rep. by its Vice President, 17th Floor, Express Towers, Nariman Point, Mumbai-400021. 3 M/s. Parijatha Consultants Architect and Planners, having its Principal Office at 435, 3-A Cross, 5th Main, HRBR, II Block, Kalyan Na, Bangalore-43. .....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 to issue an appropriate writ or order or direction more particularly one in the nature of writ of Mandamus a) to declare the action of the 2nd respondent in seeking to sell the property belonging to the petitioner vide the impugned notices dated 7.8.2008 under securitization and Reconstructilon of Assets and Enforcement of Security Interest Act, 2002, as arbitrary, illegal; b) to declre the action of the 2nd respondent in not considering the oﬀer of the petitioner for one time settlement of the loan account, sought for by the petitioner in its representations dated 04.04.2007 as arbitrary and illegal, c) consequently quash the impugned notices dated 07.08.2008 with a direction to the 2nd respondent to accpet the oﬀer of one time settlement of loan account made by the petitioner vide its representation dated 04.04.2007 Counsel for the Petitioner:MR.D.V.SITARAMAMURTHY Counsel for the Respondents: MR.DEEPAK BHATTACHARJEE The Court made the following Order: THE HON'BLE SRI JUSTICE B.SESHASAYANA REDDY WRIT PETITION No.18675 of 2008 ORDER: Learned counsel appearing for the petitioner seeks permission to withdraw the writ petition reserving liberty to the petitioner to pursue the remedy of appeal. Permission as sought for is accorded. Accordingly the writ petition is dismissed as withdrawn reserving the liberty to the petitioner to ﬁle appeal. No costs. ____________________________ B.SESHASAYANA REDDY, J. Date:18th October, 2008 ghn To 1 State Bank of India, rep. by its Deputy General Manager, Stressed Assets Managements Branch, 1-1-78, Near Secunderabad HPO, R.P. Road, Secunderabad. 2 Asset Reconstruction Company of India Limited, rep. by its Vice President, 17th Floor, Express Towers, Nariman Point, Mumbai-400021. 3 M/s. Parijatha Consultants Architect and Planners, having its Principal Office at 435, 3-A Cross, 5th Main, HRBR, II Block, Kalyan Na, Bangalore-43. 4 2CD copies Form-NIC-OGS/WP{MSN}