ORDER:

(Per Hon’ble Sri Justice V. Ramasubramanian)

The Andhra Pradesh State Financial Corporation has come up with the above writ petition challenging the action of the Kotak Mahindra Bank (the first respondent herein) in invoking the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short ‘ SARFAESI Act ’) against the borrower (3^rd respondent herein), without their consent.

2. Heard Mr. Sudarshan Malugari, learned counsel for the petitioner, Mr. Rahul Sarella, learned counsel for the 1^st respondent (Kotak Mahindra Bank) , Mr. Rusheek Reddy K.V., learned counsel for the 2^nd respondent (Jammu & Kashmir Bank), Mr. M. Srikanth Reddy, learned counsel for the 4^th respondent (State Bank of India), and Mr. Srinivas Chitturu, learned counsel for the 5^th respondent (IDBI Bank).

3. The petitioner is a State Financial Corporation established under the provisions of the State Financial Corporations Act , 1951. It is the case of the petitioner that the 3^rd respondent company (M/s. Ameya Laboratories Limited formerly known as M/s. Anu’s Laboratories Limited) availed credit facilities from the petitioner Corporation and the 2