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2017 Supreme(AP) 846

P.V.SANJAY KUMAR, J.UMA DEVI
SREE BALAJI CENTRIFUGAL CASTINGS – Appellant
Versus
AUTHORISED OFFICER, ICICI BANK LTD. – Respondent


Advocate Appeared:
For the Appellant :Vedula Venkataramana for Sharad Sanghi, Advocates.
For the Respondent:R. Raghunandan for V. Dharma Suri, Advocates.

ORDER :

SANJAY KUMAR, J.

1. Challenge in this writ petition is to the action of the ICICI Bank Limited in taking physical possession of the property bearing No. B-52 being a plot of land with a shed therein, situated at Assisted Private Industrial Estate, Balanagar, Hyderabad, belonging to the petitioner firm, on 12.6.2017 on the ground that it was without the authority of law.

2. Though the prayer in the writ petition includes another property bearing No. B-53 situated in the same location, Sri Vedula Venkataramana, learned Senior Counsel representing Sri Sharad Sanghi, learned counsel for the petitioner, would fairly concede that the challenge in this writ petition does not extend to the said property and by inadvertence, the said property was also included in the prayer.

3. Sri Vedula Venkataramana, learned Senior Counsel, would contend that the ICICI Bank Limited, having secured an order under Section 14 of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as "the SARFAESI Act"), failed to take possession pursuant thereto and independently secured possession of the subject property by forcible means thr

















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