IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 23RD DAY OF JULY 2019 BEFORE THE HON’BLE MR. JUSTICE ALOK ARADHE WRIT PETITION NO.21236 OF 2019 (GM-RES) BETWEEN:
M/S. ACROPETAL TECHNOLOGIES LIMITED, NO.74/75, III CROSS, 1ST MAIN, N.S.PALYA, BANNERGHATTA ROAD, BENGALURU – 560 076. REPRESENTED BY ITS CHAIRMAN & MANAGING DIRECTOR.
… PETITIONER (BY SRI.RAGHU HULIKAL, ADVOCATE) AND:
1. M/S. EDELWEISS ASSET RECONSTRUCTION CO. LTD., A COMPANY INCORPORATED UNDER THE COMPANIES ACT, 1956, REGISTERED AS AN ASSET RECONSTRUCTION COMPANY PURSUANT TO SECTION 3 OF SARFAESI ACT, 2002.
REGISTERED OFFICE AT EDELWEISS HOUSE, 15TH FLOOR, OFF C.S.T. ROAD KALINA, MUMBAI – 400 098. REPRESENTED BY ITS AUTHORIZED SIGNATORY.
2. SRI.D.RAVIKUMAR, S/O SRI.DORAISWAMY K., AGED ABOUT 47 YEARS, RESIDING AT NO.E 1201, MANTRI ELEGANCE APARTMENTS, N S PALYA, BANNERGHATTA ROAD, BENGALURU – 560 076.
3. DR.MALINI REDDY, W/O SRI.D.RAVIKUMAR, AGED ABOUT 42 YEARS, RESIDING AT NO.E 1201, MANTRI ELEGANCE APARTMENTS, N S PALYA, BANNERGHATTA ROAD, BENGALURU – 560 076.
4. SRI. DORAISWAMY K., S/O SRI.P.KRISHNA REDDY, AGED ABOUT 62 YEARS, RESIDING AT 169/E, BILEKAHALLI MAIN ROAD, BANNERGHATTA ROAD, IIM POST, BENGALURU – 560076.
5. SRI.M.PRASHANTH KUMAR, S/O K.M.MAYANNA GOWDA, AGED ABOUT 43 YEARS, RESIDING AT NO.13/1, 1ST FLOOR, SARAKKI MAIN ROAD, J.P.NAGAR, 1ST STAGE, BENGALURU – 560 078.
… RESPONDENTS THIS WRIT PETITION IS FILED UNDER ARTICLES 226 AND 227 OF THE CONSTITUTION OF INDIA, PRAYING TO SET ASIDE THE IMPUGNED ORDER DATED 28.07.2018 PASSED IN CRL.MISC. NO.2342/2018 PASSED BY THE HON’BLE 6TH ADDITIONAL CHIEF METROPOLITAN MAGISTRATE AT BANGALORE AT ANNEXURE – A AND ETC., THIS WRIT PETITION COMING ON FOR ORDERS, THIS DAY, THE COURT MADE THE FOLLOWING:-
ORDER Sri. Raghu Hulikal, learned counsel for the petitioner.
2. In this petition, petitioner has assailed the validity of the order dated 28.07.2018 passed in Criminal Miscellaneous No.2342/2018 passed by the Hon’ble 6th Additional Chief Metropolitan Magistrate, Bengaluru under Section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as ‘the Act’ for short).
3. In view of the decision of this Court in the order dated 30.01.2019 passed in W.P.No.6594/2018 and for the reasons assigned therein, the remedy available for the petitioner is to file an application under Section 17 of the Act.
4. Accordingly, the petition is disposed of with liberty to the petitioner that in case he files an application before the Debts Recovery Tribunal within a period of three weeks from the date of receipt of certified copy of the order passed today, he shall be entitled to the benefit of principles contained under Section 14 of the Limitation Act, 1963. It is made clear that this Court has not expressed any opinion on the merits of the case.
Sd/- JUDGE Mds/-