Court No. - 36 Case :- WRIT - C No. - 41365 of 2010 Petitioner :- M/S Yadav Engineering Works And Another Respondent :- State Of U.P. And Others Petitioner Counsel :- Kushal Kant,Raj Kumar Tiwari Respondent Counsel :- C.S.C.,Anay Kumar Srivastava Hon'ble R.K. Agrawal,J.
Hon’ble Rajesh Chandra,J.
Counter affidavit filed today be taken on record. Sri Kushal Kant, learned
counsel for the petitioner, states that the petitioner does not propose to file
any rejoinder affidavit and he shall be arguing the matter on the basis of the
averments made in the writ petition and the counter affidavit.
Sri Kushal Kant, learned counsel for the petitioner, states that the question
whether rehabilitation scheme is binding on the Nationalized Bank, which
has advanced the loan to an industrial unit is under consideration in Writ
Petition No.23357 of 2010 in which the judgment has been reserved on 30th
July, 2010 and is awaited. According to him, if this Court holds that the
rehabilitation scheme announced is binding on Nationalized Banks also in that
event the entire proceedings under the Securitisation and Reconstruction of
Financial Assets and Enforcement of Security Interests (SARFAESI) Act,
2002 would fall. As the judgment has been reserved and this point also arising
in the present writ petition, we deem it fit and proper in the interest of justice
to defer the hearing of these two writ petitions and await the judgment.
However, as the auction is scheduled to be held on 12th August, 2010, the
same may be held on its schedule, but shall not be confirmed without leave of
the Court.
Order Date :- 11.8.2010
mt