S V KRISHNAMARAJA COTTON MERCHANT Vs. MINISTRY OF FINANCE, DEPARTMENT OF FINANCIAL SERVICES, INDUSTRIAL DEVELOPMENT BANK OF INDIA (IDBI) AND R PRABAKARAN

JUDGEMENT

(1.) At this stage of the hearing of the writ petition, the learned Counsel appearing on behalf of the Petitioner had submitted that the Petitioner would make an application to the first Respondent to seek its consent to file a civil suit against the third Respondent, as per the provisions of the Sick Industrial Companies (Special Provisions) Act, 1985.

(2.) In view of such submission being made by the learned Counsel for the Petitioner, since, no further order is necessary, the writ petition stands closed. No costs. However, it is made clear that it would be open to the Petitioner to make an application to the first Respondent, as stated by the learned Counsel for the Petitioner. On such application being filed, it would be open to the first Respondent, to consider the same and pass appropriate orders thereon, in the manner known to law.