1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY NAGPUR BENCH, NAGPUR. W. P. No. 1886 of 2008. Krishi Vaibhav Agencies. Vs. Union of India and others. Office Notes, Office Memoranda of Coram appearances, Court's orders or directions Court's or Judge's Orders and Registrar's orders. Shri A. P. Tathod, Advocate for the petitioner. Shri G. R. Agrawal, Advocate for Respondent no.4. Shri R. L. Khapre, Advocate for R-1&2. Coram : B.H. Marlapalle and A.H. Joshi, JJ. Dated : 15th December, 2008. Heard Mr. Tathod, the Learned Counsel for the petitioner, who is aggrieved by the measures taken under Section 13(4) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (“The Securitization Act” for short) on 28-2-2008. The said order is appealable under Section 17 of the Securitization Act.' The petitioner is a borrower of the Respondent NO.2 Bank i. e. Akola Janata Commercial Co-operative 2 Bank Ltd., which is a Multi State Scheduled Bank, and it is submitted that the Securitization Act is not applicable to the said Bank on account of the pendency of SLP (Civil) No.17573, 17897, 17898, 18581 and 19685/2007. Admittedly, the Government of India through the Ministry of Finance issued the notification dated 28-1-2003 and made the Act applicable to the Co-operative Banks as well, and the said notification has not yet been stayed by the Supreme Court in the above referred Special Leave Petitions, and so long as the said notification is not stayed, the Securitization Act continues to apply to the Co- operative Banks. Under these circumstances, the petitioner's remedy of appeal under Section 17 of the Securitization Act remains intact, and when such a remedy of statutory appeal is available, there is no reason to entertain this petition as has been held by us in connected petitions (W.P. No.340 of 2008). Hence, the petition is disposed off with liberty to the petitioner to approach the Debts Recovery Tribunal at 3 Nagpur with an appeal under Section 17 of the Securitization Act, and if such an appeal is filed within a period of two weeks from today, the period of pendency of this petition from 22-4-2008 be taken into consideration for condonation of delay if any. The Order of status quo granted earlier was on the condition that the petitioner will deposit the amount of Rs.2,99,328/- with the Registry of this Court on 7-11-2008. This order has not been complied with, and therefore, the ad interim order stands vacated on account of the conditional order. JUDGE JUDGE /Muley/