MAHAVIR PLANTATIONS PVT LTD Vs. ICICI BANK LIMITED

JUDGEMENT

(1.) THE Hon'ble Chief Justice: this writ appeal has been filed against the impugned judgment of the learned single Judge dated 11. 3. 2005.

(2.) THE petitioner/appellant had challenged the order of the third respondent Debt Recovery Tribunal-I, Chennai dated 19. 1. 2005. In our opinion, the petitioner/appellant has a right of appeal under section 18 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as 'the Act' ). Hence we dismiss the writ petition as well as the writ appeal on the ground of alternative remedy under section 18 of the Act.

(3.) IT is well settled that every appellate authority has inherent power to grant an interim order as held by the Supreme Court in Income Tax Officer v. Mohd. Kunhi, AIR 1969 SC 430. Hence if the writ petitioner/appellant is so advised, he may move an application for interim orders along with the appeal under section 18 of the Act. If the appeal is filed within two weeks from today, the same will be entertained by the appellate authority without raising any objection as to limitation and shall be decided on merits as expeditiously as possible. No costs. Consequently WAMP No. 1409 of 2005 is also dismissed.