Authority: Supreme Court of India

Order Date: 16 Oct 2026

Case Overview

  • Appeal No.: Civil Appeal No(s).10503/2014
  • Parties: Appellant – Mattapalli Laxmi Narasimha Industries; Respondent – Andhra Pradesh State Financial Corporation & Ors.
  • Hearing Date: 15 Oct 2026 before Hon'ble Mr. Justice Dipankar Datta and Hon'ble Mr. Justice Sheel Nagu.
  • Counsel for Appellant: Mr. Shridhar Potarau, Sr. Adv.; Mr. G. Seshagiri Rao, Adv.; Mr. Sai Teja, Adv.; Mr. Gaichangpou Gangmei, Adv.; Ms. Saket Gautam, Adv.; Ms. Madhu Yadav, Adv.; Mr. Rahul Aggarwal, Adv.; Mr. Amit Pratap Singh, Adv.; Mr. Naveen Kumar Awana, Adv.; Mr. Azad Singh, Adv.; M/s Ag Veritas Law – 3632, AOR.
  • Counsel for Respondent: Mr. T. V. Ratnam – 751, AOR; Mr. Venkateswara Rao Anumolu – 1358, AOR.
  • Core Issue: Return of all collateral securities held by the Andhra Pradesh State Financial Corporation in its custody for the appellant.

Order Details

1. Mr. Ratnam, counsel for the respondent, referred to an earlier order dated 01 Sep 2026 and submitted that the appellants may approach the corporation to obtain the collateral securities.

2. The Court granted liberty to the appellants to approach the corporation within three weeks from the date of this order and obtain the collateral securities.

3. The appeal is to be re‑listed in the week commencing 16 November 2026 under the heading “For Directions”.

4. Learned counsel for both parties shall report compliance on the re‑listing date.

Final Outcome

  • The Supreme Court directed that Mattapalli Laxmi Narasimha Industries may seek the return of all collateral securities from Andhra Pradesh State Financial Corporation within three weeks of 16 Oct 2026, and the matter will be revisited for further directions on 16‑22 Nov 2026, with mandatory compliance reporting by counsel.

Topics: Court Order, Collateral Securities, Financial Corporation