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ANDHRA PRADESH HIGH COURT
A. Ramalingeswara Rao, J
Vishnutek Engineers Pvt. Ltd. Visakhapatnam v. Authorised Officer ASREC (India) Limited Hyderabad and Others
| Table of Content |
|---|
| 1. overview of the cases and legal challenges regarding debt recovery. (Para 1 , 2) |
| 2. arguments outlined regarding the validity of the notice procedures. (Para 4) |
| 3. court's discussion on the implications of financial asset transfer under sarfaesi. (Para 6 , 10) |
| 4. findings on the legality of issuing notices and the role of the deemed lender. (Para 11 , 12) |
| 5. conclusion of the court dismissing the writ petition. (Para 14) |
1. The petitioner seeks writ of Certiorari calling for the records pertaining to order, dated 20.04.2017, in S.A. No.278 of 2016 on the file of Debts Recovery Tribunal (for short, 'the DRT), Visakhapatnam, and the order, dated 08.02.2019, in Appeal No.209 of 2017 on the file of Debts Recovery Appellate Tribunal (for short, 'the DRAT') at Calcutta, In charge Debts Recovery Tribunal, Allahabad, and quash the same and consequently set aside all the proceedings initiated against the petitioner by respondent Nos. 1 and 2 under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short, 'the SARFAESI Act') as arbitrary, illegal and violative of principles of natural justice.
2. The petitioner's case,
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