M/S Yada Spices P Ltd. vs Union Bank Of India,
2021 Latest Caselaw 2761 Tel

        HON'BLE SRI JUSTICE A.RAJASHEKER REDDY
                         AND
             HON'BLE JUSTICE G.SRI DEVI

              Writ Petition No.20163 OF 2011

JUDGMENT:(per Hon'ble Sri Justice A.Rajasheker Reddy)

       This writ petition is filed seeking writ of certiorari

calling for the records relating to appeal in R.A.No.159 of

2010 on the file of the Debts Recovery Appellate Tribunal,

Chennai and to quash the order passed by the Debts

Recovery Appellate Tribunal, Chennai.

       Heard Sri M.Hamsa Raj, learned Standing Counsel for

the Union Bank of India-respondent who submits that

pending O.A, the writ petitioner deposited an amount of

Rs.60,40,000/- and subsequent to filing of O.A, the Bank

has initiated proceedings under the Securitization and

Reconstruction of Financial Assets and Enforcement of

Security Interest Act, 2002 (For short 'the Act of 2002'). And

sold the property and realized entire amount except

Rs.1,20,000/- and that the Bank has no objection for refund

of Rs.60,40,000/- after deducting Rs.1,20,000/-. He also

submits that learned counsel for the petitioner has also no

objection for such an arrangement.

In view of above facts and circumstances, this writ

petition is disposed of directing the respondent Bank to

refund amount of Rs.60,40,000/- with interest after deducting Rs.1,20,000/- towards the amount due to the

Bank.

There shall be no order as to costs. As a sequel

thereto, miscellaneous petitions, if any, pending in this Writ

Petition, shall stand closed.

_________________________ A.RAJASHEKER REDDY, J

______________ G. SRI DEVI, J Date:23.09.2021 tk/kvs HON'BLE SRI JUSTICE A.RAJASHEKER REDDY AND HON'BLE JUSTICE G.SRI DEVI

Writ Petition No.20163 OF 2021

Date: 23.09.2021

tk/kvs