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.12581 OF 2017 (GM-RES) BETWEEN:
SMT.ANITHA S.V, W/O SRI RAGHU AGED 39 YEARS, OCC: INDUSTRIALIST (SSI) PRESENTLY RESIDING TEMPORARILY AT C/O UMASHANKAR S/O LATE T.BHASKAR NO.45, 10/1B, “DOREBUNGALOW”, 5TH CROSS, 6TH PHASE. J.P.NAGAR, BENGALURU-560 078 (BY SRI.MALLANNA.K., ADV. FOR SRI ANGADI S.V., ADV.) AND:
ANDHRA BANK AMENDED AS PER ORDER DT:16.10.2017 OMKAR ASSETS RECONSTRUCTION PVT. LTD., A COMPANY INCORPORATED UNDER COMPANIES ACT, 1956, REGISTERED AS THE SECURITIZATION AND ASSET RECONSTRUCTION COMPANY, PURSUANT TO SEC.3 OF SARFAESI ACT, REGISTERED OFFICE AT NO.9, M.P.NAGAR, 1ST STREET, KONGU NAGAR EXTENSION, TIRUPUR-641 607, … PETITIONER TAMIL NADU. … RESPONDENT (BY SRI H.R.KATTI, ADV.) THIS WRIT PETITION IS FILED UNDER ARTICLES 226 AND 227 OF THE CONSTITUTION OF INDIA, PRAYING TO QUASH THE NOTICE DATED: 17.12.2016 VIDE ANNEXURE-C BY THE RESPONDENT AS ILLEGAL, UNCONSTITUTIONAL, ULTRAVIRES AND OPPOSED TO THE PRINCIPLES OF NATURAL JUSTICE AND EQUITY AND ETC.
THIS PETITION COMING ON FOR PRELIMINARY HEARING IN ‘B’ GROUP THIS DAY, THE COURT MADE THE FOLLOWING:-
ORDER Sri.Mallanna.K for Sri.Angadi.S.V, learned counsel for the petitioner.
Sri.H.R.Katti, 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 action taken by respondent-Bank under Rule 8(6) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Rules, 2002 (hereinafter referred to as ‘the Rules’ 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. Till the petitioner files an application, ad-interim order dated 30.03.2017 granted by a bench of this Court, shall continue provided the petitioner has complied with the conditions prescribed in the order.
Sd/- JUDGE BNV