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 : 7479 of 2003 Between: 1 V.Srinivasa Reddy S/o.Sri V.Chenna Reddy R/o.H.No.3/2 RT, Muncipal Colony, Malakpet, Hyderabad. 2 V.Laxma Reddy S/o.Sri V.Chenna Reddy R/o.H.No.3/2 RT, Muncipal Colony, Malakpet, Hyderabad. 3 V.Venkateshwar Reddy S/o.Sri V.Chenna Reddy R/o.H.No.3/2 RT, Muncipal Colony, Malakpet, Hyderabad. ..... PETITIONER(S) AND 1 The Govt.of India Rep.by its Secretary, Finanace & Planning Dept., New Delhi. 2 The Prudential Co-op.Bank Ltd., 8-1-381, Rashtrapathi Road, Secunderabad-3. .....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 writ, order or direction more particularly one in the nature of Writ of Mandamus or any other appropriate direction, declaring the impugned Notice dt. 26-2-2003 issued by the 2nd respondent under Provisions of Section 13(2) of the Securitisation and Reconstruction of Financial Assets and Enforcements of Security Interest Act as illegal, arbitrary, violative of principles of natural justice and also violative of the basic principle of rule of law and fundamental rights guaranteed under constitution of India and set asided the same as the said provisions of Section 13 of the Act as ultra virus and unconstitutional and pass such other order or orders. Counsel for the Petitioner: MR.K.V.JAGAN MOHAN REDDY Counsel for the Respondents: GP FOR COOPERATION The Court made the following : THE HON’BLE SRI JUSTICE GHULAM MOHAMMED AND THE HON’BLE SRI JUSTICE VILAS V. AFZULPURKAR W.P.No. 7479 of 2003 ORDER: (Hon’ble Sri Justice Ghulam Mohammed) 1. This writ petition is filed assailing the notice issued by the 2nd respondent under Section 13 (2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short “the Act”) and consequentially set aside the same as the said provision is ultra vires and unconstitutional. 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{KMR}