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NON-REPORTABLE  IN THE SUPREME COURT OF INDIA CIVIL ORIGINAL JURISDICTION

         WRIT PETITION (C) NO.61 OF 2011

   MR. SARVESH BANSAL & ANR.      ...   PETITIONERS

                 VS.

        UNION OF INDIA & ORS.        ...   RESPONDENTS                                                                                                                                  

        J U D G M E N T

Heard the learned counsel.   

The  only  prayer  made  in  this  petition  is  that  

initiation  of  proceedings  under  the  Securitization  and  

Reconstruction  of  Financial  Assets  and  Enforcement  of  

Security  Interest  Act,  2002  ('SARFAESI  Act'),  more  

particularly by a notice dated 2nd June, 2004, issued under  

Section  13(2)  of  the  Act  by  the  respondent-Bank,  namely,  

Rupee Co-op Bank Ltd., be quashed.

In  pursuance  of  the  instructions  received  from  his  

client, Mr. Shekhar Naphade, learned senior counsel appearing  

for the respondent – creditor Bank has submitted that the  

aforestated notice issued to the petitioners is withdrawn, as  

the respondent-Bank would like to execute the Award made in  

favour of the respondent-Bank.

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In view of the aforestated development in the matter,  

in our opinion, the grievance ventilated in the petition does  

not survive and, therefore, the petition is dismissed with no  

order as to costs.   

Rule is discharged.   

The ad-interim relief which had been granted earlier  

shall stand vacated.

      ..............J. [ANIL R. DAVE]

..............J. [KURIAN JOSEPH]

New Delhi; February 03, 2015.