Narendra Kumar Jain, J. - (1.) THE matter has come for orders on an application, filed by Respondents, under Article 226(3) of the Constitution of India for vacation of ex -parte stay order dated 24.05.2011, but on the request of learned Counsel for the parties, arguments were heard and the writ petition is being disposed off, finally.
(2.) LEARNED Counsel for Petitioner submitted that at the time of filing writ petition before this Court, the Debt Recovery Tribunal was not functioning, therefore, he has preferred this writ petition directly before this Court, therefore, he may be allowed to withdraw this writ petition with liberty to file an appeal against the impugned notice dated 18.03.2011 (Annexure -4) under Section 13(4) of The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 before the Debt Recovery Tribunal and the interim order passed by this Court may be continued for a limited period or till filing of appeal before the Debt Recovery Tribunal. Learned counsel for Respondents submitted that Debt Recovery Tribunal is likely to come on 29th of this month 29.08.2011, therefore, No. interim order is required to be passed as Tribunal is empowered to pass interim order, in the facts and circumstances of the case.
(3.) AFTER considering all the facts and circumstances of the case, the writ petition is dismissed as withdrawn with liberty to Petitioner to file an appeal against the impugned notice before the Debt Recovery Tribunal. Interim order passed by this Court will remain in force till 05.09.2011;