IN THE HIGH COURT OF JUDICATURE, ANDHRA PRADESH AT HYDERABAD (Special Original Jurisdiction) TUESDAY, THE TWENTY THIRD DAY OF JUNE TWO THOUSAND AND NINE PRESENT THE HON'BLE MR JUSTICE GHULAM MOHAMMED and THE HON'BLE MR JUSTICE VILAS V. AFZULPURKAR WRIT PETITION NO : 13641 of 2003 Between: 1 M/s. Kankaria Dyes Intermediate Pvt. Ltd Rep.by its Managing Director, Mr. Ashok Kumar Kankaria, Plot No. D.9&D.10, I.D.A. Uppal, Hyderabad - 500 039. 2 Mr. Ashok Kumar Kankaria, S/o. Subh Karan Kankaria, R/o. Flat No. F402, Block 'E', H.No. 1-10-119/1 to 5, Vamshi Spans Collective Homes, Mayuri Marg, Begumpet, Hyderabad - 500 016. ..... PETITIONER(S) AND 1 The Union of India, Rep.by its Secretary Ministry of Law, Shastri Bhawan, New Delhi. 2 The Prudential Coop.Bank Ltd., Rep.by its Asst. General Manager & Authorised Officer, R.P. Road, Secunderabad. .....RESPONDENT(S) 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 an appropriate writ, order or direction more particularly one in the nature of "Writ of Mandamus" STRIKING DOWN the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest ACT, 2002, and striking down the provisions of Section 13,15 and 34 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest ACT, 2002, and Quash the Notice dated 07-05-2003 issued by the Respondent No.2 and pass. Counsel for the Petitioner: MR.B.KAMALAKARA RAO Counsel for the Respondents: MR.A.RAJASHEKAR REDDY (ASST SOLICITOR GEN) The Court made the following : THE HON’BLE SRI JUSTICE GHULAM MOHAMMED AND THE HON’BLE SRI JUSTICE VILAS V. AFZULPURKAR W.P.No. 13641 of 2003 ORDER: (Hon’ble Sri Justice Ghulam Mohammed) 1. This writ petition is filed seeking a writ of mandamus to strike down the provisions of Sections 13, 15 and 34 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short “the Act”) and consequentially set aside the notice issued thereunder. 2. The said issue is no more res integra as the Supreme Court has upheld the validity of the said Act in a decision reported in Mardia Chemicals Limited and others Vs. Union of India and others (2004) 4 SCC 311). Therefore, the writ petition is dismissed. However, this order does not preclude the petitioner from taking any other alternative remedies that may be available to him in law. No order as to costs. _____________________________ JUSTICE GHULAM MOHAMMED ________________________________ JUSTICE VILAS V. AFZULPURKAR Dt. 23.6.2009 KR ..... REGISTRAR // TRUE COPY // SECTION OFFICER To 1) 2 CD copies Form-NIC-OGS/WP{RAGHU}