IN THE HIGH COURT OF JUDICATURE AT BOMBAY IN THE HIGH COURT OF JUDICATURE AT BOMBAY IN THE HIGH COURT OF JUDICATURE AT BOMBAY APPELLATE SIDE APPELLATE SIDE APPELLATE SIDE WRIT PETITION NO. 121 OF 2003 WRIT PETITION NO. 121 OF 2003 WRIT PETITION NO. 121 OF 2003 WITH WITH WITH CIVIL APPLICATION NO. 602 OF 2008 CIVIL APPLICATION NO. 602 OF 2008 CIVIL APPLICATION NO. 602 OF 2008 M/s.Manikchand Nandadeep Paper Products Private Ltd. and others. ... Petitioners. V/s. The Assistant Registrar of Cooperative Societies, Pune and others. ... Respondents. A.V.Anturkar with Sandeep Pathak i/b. S.B.Deshmukh for the petitioners. Y.R.Naik for respondent Nos.2 and 3. CORAM: V.C.DAGA, J. CORAM: V.C.DAGA, J. CORAM: V.C.DAGA, J. DATED: 24th September 2008. DATED: 24th September 2008. DATED: 24th September 2008. P.C.: P.C.: P.C.: ---- ---- ---- . By consent of parties this petition is finally heard while hearing Civil Application No.602/2008. 2. This petition involves only two issues. One of the questions relates to applicability of provisions of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993. This question is no more res integra. The Apex Court judgment in the case of Greater Bombay Coop.Bank Ltd. v. United Yarn Greater Bombay Coop.Bank Ltd. v. United Yarn Greater Bombay Coop.Bank Ltd. v. United Yarn Textile (P) Ltd. Textile (P) Ltd. Textile (P) Ltd., (2007) 6 SCC 236 has settled this issue. In this view of the matter, learned counsel for the petitioners did not press this issue. 3. The second issue raised relates to the applicability of section 22 of the Sick Industrial Companies Act, 1966 (SICA). Both parties agree that this issue raised in the petition need not be gone into at this stage of the litigation. Issue be kept open for being raised, if the respondent- bank decides to put the recovery certificate in execution. 4. Having seen the consensus between the parties, the petitioners are permitted to object to the execution of the recovery certificate on the basis of the provision of section 22 of the SICA. In the event of any such objection being raised by the petitioners, the respondent No.3 shall be duty bound to decide the same by a reasoned order. Needless to mention that before instituting execution proceeding, respondent No.2 shall give advance notice to the petitioners. 5. With the aforesaid right reserved in favour of the petitioners, petition is disposed of in terms of this order. Rule is discharged with no order as to costs. 6. In view of disposal of the writ petition, the civil application taken out therein does not survive. The same is disposed of as infructuous with no order as to costs. (V.C.DAGA, J.) (V.C.DAGA, J.) (V.C.DAGA, J.)