PNL DEPOSITORS Vs. UNION OF INDIA

JUDGEMENT

(1.) 1. In all these Writ Petitions and Writ Petition Miscellaneous Petitions, the controversy centres around the proceedings initiated by the Indian Bank (Petitioner in W.P. No. 10077 of 2005) (hereinafter referred to as "Indian Bank") under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (in short, 'sARFAESI Act").

(2.) W.P. No. 9834 of 2005 has been filed by PNL Depositors" Welfare Association. The prayer is for the issuance of a Writ of Mandamus, to direct the respondents 1 to 4 therein to initiate necessary action to safeguard the interest of the depositors of the sixth respondent, namely, PNL Nithi Limited, Pondicherry by taking appropriate action under the provisions of law. In this Writ Petition, W.P.M.P. No. 14620 of 2005 has been filed by the Indian Renewable Energy Development Agency Limited (in short, "IREDAL") for getting itself impleaded as one of the party-respondents. A similar petition has been filed in W.P.M.P. No.23476 of 2005 by Pondicherry Non-Banking Investors" Protection Association.

(3.) W.P. No. 10077 of 2005 has been filed by the Indian Bank as against the Government of pondicherry as well as New Horizon Sugar Mills Pvt. Ltd. and another for the issuance of a writ of certiorari, to call for the records of the second respondent therein relating to the order bearing No.10912/DCRS/88/05 dated 21.3.2005 published in Daily Thanthi of Pondicherry Edition, which seeks to restrain the Indian Bank from conducting the sale of Molasses and other immovable properties in the premises of the sixth respondent therein, i.e., New Horizon Sugar Mills Pvt. Ltd. In the above said writ Petition, W.P.M.P. No. 23511 of 2005 has been filed by the Commissioner of Central Excise, Pondicherry Commissionerate, for getting himself impleaded as a party-respondent, similar such applications have been filed by M/s. Vijaya Bank, Pondicherry, Ariyur Sarkarai Alai Thozhilalar Nala Sangam, Pondicherry and Bank of Baroda, Pondicherry in W.P.M.P. Nos. 11926, 14137 and 14553 of 2005. W.P. No. 9834 of 2005 & W.P.M.P. No. 10659 of 2005 :