2004 (5) TMI 316

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....l for the petitioner and learned counsel for the respondent-bank. 2. In this writ petition, the petitioner is aggrieved by the notice, contained in Annexure 1, issued under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 ('the Act') by the creditor, whereby he has been called upon to pay the amount of Rs. 1,12,70,963 wit....

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....1. 4. Learned counsel for the bank has raised a preliminary objection regarding maintainability of this writ petition itself in view of the recent decision of the Apex Court in the case of Mardia Chemicals Ltd. v. Union of India [2004] 120 Comp. Cas. 373 ^1. Learned counsel submitted that the validity of certain sections, including section 13 of the Act, was under consideration in the said case....

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....e present case as the petitioner has alleged commission of fraud by the creditor in collusion with the principal borrower and if following the guidelines laid down by the Apex Court, the petitioner is to go to the creditor, it will amount to going before the authority who will be the judge of his own cause leading to bias. 6. There may be some substance in the submission of Mr. Chatterjee but i....