Uco Bank & ANR Vs.
Pradeep Kumar  INSC 330 (13 February 2009)
JURISDICTION CIVIL APPEAL NOS.1055-1057 OF 2009 (Arising out of S.L.P. (C)
Nos.19770-19772 of 2007) UCO Bank and Anr. ...Appellant(s) Versus Pradeep Kumar
...Respondent(s) O R D E R Leave granted.
After the case was
heard at length, learned counsel appearing on behalf of the respondent made a
prayer that his client may be permitted to withdraw Writ Petition No. 11929 of
2007 filed by him before the Punjab and Haryana High Court to enable him to
move the Debt Recovery Tribunal by filing an application under Section 17 of
the Securitisation and Reconstruction of Financial Assets and Enforcement of
Security Interest Act, 2002 [for short, `the Securitisation Act'].
In our view, the
request made by the learned counsel is reasonable and deserves to be accepted.
Accordingly, the respondent is permitted to withdraw Writ Petition No. 11929 of
2007 pending before the Punjab and Haryana High Court with liberty to him to
file appropriate application under Section 17 of the Securitisation Act before
the Debt Recovery Tribunal. In case such an application is filed, the same
shall be considered and disposed of on merits.
The interim orders
passed by the High Court on 6th August, 2007, 23rd August, 2007 and 26th
September, 2007 in Writ Petition No. 11929 of 2007 stand automatically vacated.
The civil appeals
are, accordingly, disposed of.