K.C. Bhanu, J.

1. This writ petition, under Article 226 of the Constitution of India, is filed to declare the action of the respondent Bank in issuing possession notice basing on Demand notice, dated 22.6.2013, against the properties of the petitioners without following the due procedure as contemplated under Section 13(2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short, 'SARFAESI Act') read with Rule 3 of the Security Interest (Enforcement) Rules, 2002, as arbitrary and illegal and consequently, direct the respondent Bank to drop the proceedings initiated under the SARFAESI Act. Petitioners herein filed Securitisation Application No. 248 of 2013 under Section 17(1) of the SARFAESI Act before the Debts Recovery Tribunal, Visakhapatnam (DRT), with a prayer to strike out the notice issued by respondent Bank under Section 13(4) of the SARFAESI Act and grant stay restraining the respondent Bank from proceeding further till the Securitisation Application is decided. The Presiding Officer, by order, dated 6.1.2014, allowed the Securitisation Application. Operative portion of the order reads as follows:

"Accordingly, the SA No. 248/2013 filed by the applicant deserves to be allowed however without costs and resultantly SA is allowed however this will not debar the respondent Bank from initiating action de nova provided such action would be found within the period of limitation and subject to adhering to the provisions of law after disposing of the representation of the applicant with reasons afresh."

2. Learned Counsel for the petitioners contended that notice under Section 13(2) of the SARFAESI Act issued by the respondent Bank is not in accordance with law and therefore, he prays to admit the writ petition.

3. Section 13(2) of the SARFAESI Act was not under challenge when the petitioners filed Securitisation Application No. 248 of 2013 before the DRT. Petitioners only challenged further action initiated under Section 13(4) of the SARFAESI Act. At this point of time, since further proceedings under Section 13(4) of the SARFAESI Act are commenced, question of challenging notice under Section 13(2) of the SARFAESI Act in this writ petition does not arise. Therefore, the writ petition is devoid of merit and is liable to be dismissed. Accordingly, the writ petition is dismissed leaving open the remedies available to the petitioners under law. There shall be no order as to costs. Miscellaneous petitions, if any, shall stand closed.

Petition dismissed.