The Supreme Court, on Tuesday, refused to entertain the plea of Deccan Chronicle Holding Ltd. (DCHL) against an order of the Andhra Pradesh High Court, asking the firm to vacate one of its premises in the State towards a loan of Rs.110 crore due to Kotak Mahindra Bank.
A bench, headed by Justice B. S. Chauhan, considered the objection raised by the bank that the plea of DCHL was not maintainable as the High Court order was passed with the consent of both parties.
The court allowed DCHL to withdraw the plea, and termed it as ‘dismissed as withdrawn’ after the lawyer for the firm said that it would move the High Court for modification of the earlier order.
On the plea of Kotak Mahindra Bank, the Andhra Pradesh High Court, on November 11, had directed Deccan Chronicle to vacate the land on which its printing press is being run at Ranga Reddy district in Andhra Pradesh by February 28, 2014.
DCHL moved the apex court, saying the order to vacate the premises would amount to foreclosure of its rights in the proceedings pending before the Debt Recovery Tribunal in Hyderabad.