Court No. - 36 Case :- WRIT - C No. - 45492 of 2010 Petitioner :- F.R. Printers And Another Respondent :- State Of U.P. & Another Petitioner Counsel :- Ram Surat Saroj,Navin Kumar Respondent Counsel :- C. S. C. Hon'ble R.K. Agrawal,J.
Hon’ble Rajesh Chandra,J.
Heard learned counsel for the petitioners and Sri M.P. Sarraf,
advocate appearing on behalf of respondent Bank.
Petitioner No. 1 took loan from State Bank of Patiyala, Khurja District
Bulandshahar. Petitioner No. 2 stood its guarantor.
Proceedings under the Securitization and reconstruction of Financial
Assets and Enforcement of Security Interest Act, 2002 have been
initiated by the bank as the petitioners have defaulted in repayment of
loan amount.
In view of the decision of Apex Court in the case of Union of India Vs.
Styawati Tandon and others in Civil Appeal No. Nil of 2010 arising out
of S.L.P. (C) No. 10145 of 2010decided on26.7.2010, the remedy
available to the petitioners is to approach the Tribunal under the
aforesaid Act.
Writ petition is not maintainable and is hereby dismissed.
Order Date :- 9.8.2010
n.u.
