SHUBHAM ENTERPRISES Vs. K. SRINIVAS RAO

JUDGEMENT

(1.) By common order dated 05.03.2019, the Debts Recovery Tribunal, Hyderabad (for brevity, 'the Tribunal'), allowed Recovery Appeal Nos.03 and 04 of 2014 in R.P.No.512 of 2003 in O.A.No.455 of 2000. Aggrieved thereby, Shubham Enterprises, a partnership firm, the eighth respondent in the said appeals, being the auction purchaser, filed this writ petition seeking a declaration that the said common order was illegal and to set it aside.

(2.) By order dated 12.03.2019, this Court directed status quo obtaining as on that date to be maintained.

(3.) Heard Sri P.Sriraghuram, learned senior counsel appearing for Smt. A.Satya Sri, learned counsel for the petitioner/eighth respondent; Sri R.Raghunandan Rao, learned senior counsel appearing for Sri M.S.Srinivasa Iyyengar, learned counsel for the first respondent/ appellant; and Sri Peri Prabhakar, learned counsel for IndusInd Bank Limited, the second respondent/first respondent.