IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 11TH DAY OF MARCH 2019 BEFORE THE HON’BLE MR. JUSTICE ALOK ARADHE WRIT PETITION NO.1885 OF 2016 (GM-RES) BETWEEN:
M/S ACROPETAL TECHNOLOGIES PVT LTD REP BY ITS MANAGING DIRECTOR SRI. D. RAVI KUMAR S/O K. DORESWAMY AGED 46 YEARS NO.2/10, AJAY PLAZA, 1ST MAIN N.S. PALYA, BANNERGHATTA ROAD BENGALURU-560076.
… PETITIONER (BY MR. NATARAJ S.G. ADV. FOR MR. PRADEEP K. GAONKAR, ADV.,) AND:
THE AUTHORISED OFFICER CENTRAL BANK OF INDIA NO.71, SONA TOWERS MILLERS ROAD BENGALURU -560052.
… RESPONDENT (BY SMT. SOWBHAGYA N.A. ADV. FOR C/R) THIS WRIT PETITION IS FILED UNDER ARTICLES 226 & 227 OF THE CONSTITUTION OF INDIA, PRAYING TO QUASH THE IMPUGNED E-AUCTION SALE NOTICE VIDE ANNEXURE-G DTD:14.11.2015 AND ETC.
THIS WRIT PETITION COMING ON FOR PRELIMINARY HEARING, THIS DAY, THE COURT MADE THE FOLLOWING:-
ORDER Sri. Nataraj S.G., learned counsel for Sri. Pradeep K. Gaonkar, learned counsel for the petitioner.
Smt. Sowbhagya N.A, learned counsel for the respondent.
Petition is admitted for hearing. With the consent of learned counsel for the parties, the same is heard finally.
2. In this petition, petitioner has assailed the validity of the e-auction sale notice passed by respondent-Bank under Section 13(4) 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, 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.
5. Ad-interim order dated 18.01.2016 granted by a bench of this Court, shall continue for a period of three weeks from the date of receipt of certified copy of the order passed today, till the petitioner approaches Debts Recovery Tribunal by filing an application.
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Sd/- JUDGE