VISHWA MOTORS Vs. UNION OF INDIA

JUDGEMENT

(1.) All these Special Civil Applications are filed on similar set of facts, challenging vires of provisions under Sections 3(2) , 3(3) and 10 of the Industrial Development Bank (Transfer of Undertaking and Repeal) Act, 2003 ("Act 53 of 2003" for short) , as such, they are heard together and disposed of by this common judgment.

(2.) The petitioners have also challenged vires of provision under Section 2(o) of the Securitization Act, 200 So far as challenge to the validity of section 2(o) is concerned, the petitioners have not pressed in view of judgment of Hon'ble Supreme Court in the case of Keshavlal Khemchand Sons Pvt. Ltd. And Ors. v/s. Union of India, (2015) 4 SCC 770. wherein, said provision is upheld. In this batch of cases, submission made by learned Counsel for the petitioners are confined only to validity of provisions of the Act 53 of 2003.

(3.) For the purpose of disposal, we draw facts from Special Civil Application No.17966 of 201