RUDRAWATI STEEL WORKS PVT. LTD. Vs. ALLAHABAD BANK

JUDGEMENT

(1.) THE present I.A. has been filed for seeking withdrawal of this writ application in order to invoke the alternative forum under the SARFAESI ACT i.e. Debt Recovery Tribunal, Ranchi which has started functioning regularly on appointment of whole time Presiding Officer. However, it is submitted that the respondent Bank had issued notices under Section 13(4) of the SARFAESI Act which was challenged in the present writ application. Counsel for the respondent Bank does not dispute that the alternative forum is now regularly functioning.

(2.) IN that view of the matter, the petitioner is allowed to pursue the alternative remedy. However, if the petitioner prefers an application before the Debt Recovery Tribunal, Ranchi within a period of two weeks, the respondent Bank shall not take any coercive steps against the petitioner pursuant to the impugned notice. The writ petition is disposed of as withdrawn. Consequently, I.A. also stands disposed of.