PRIYANKAS Vs. CHOLAMANDALAM INVESTMENT AND FINANCE COMPANY LTD

JUDGEMENT

(1.) This writ petition has been filed by the petitioners with the following prayer:-

(2.) Counsel for the petitioners submitted that the respondents have issued the notices under Section 13(4) of the SARFAESI Act, 2002 (hereinafter to be referred as '?Act of 2002') in violation of the circular issued by the Reserve Bank of India dated 17.3.2016. Counsel further submits that the Co-ordinate Bench of this Court in the matter of M/s. Priyankas Vs. Union of India (S.B. Civil Writ Petition No. 21715/2019) granted the interim relief to the petitioner in similar matter vide order dated 19.12.2019.

(3.) Counsel for the respondents has raised preliminary objection with regard to maintainability of the writ petition. Counsel further submits that the petitioners are having an alternative statutory remedy of appeal before the DRT under Section 17 of the Act of 2002, therefore, prayed for dismissal of the writ petition.