IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 1ST DAY OF AUGUST, 2019 BEFORE THE HON’BLE MR. JUSTICE ALOK ARADHE WRIT PETITION NO.54808 OF 2018 & WRIT PETITION NOS.55479-55481 OF 2018(GM-RES) Between:
1. M/s Annapoorneshwari Silks, #79, M.Y.J.Towers, Infantry Road, Bengaluru – 560 001.
By its Partners.
2. Mr.P.Muthu Selvan, #No.-1, Bhathinagar, Halasuru, Bengaluru – 08 And also No.1, 6th Street, Palani Mudaliar Street, Halasuru, Bengaluru – 52.
3. Mr.N.Mahalinge Gowda, #-8 Chirayu, 1st Main road, Ganganagar Extension, Bengaluru – 32 and also No.39, CPV Block, 5th Main, 2nd Cross, Ganganagar R.T. Nagar, Bengaluru – 32.
4. P.Saravan Kumar, 22/11, 1st Cross, Vidyaganapathi Road, Shanthi Nagar, Bengaluru - 560 008, And also No.18, Saidhavam, 1st G-Street, Jogpalya, Ulsoor, Bengaluru – 08. (Guarantor) (By Sri.S.B.Halli, Advocate) And:
Authorised Officer Indian Overseas Bnak, Cantonment Branch, No.6/1, Ground Floor, Infantry Road, Bengaluru – 560 001.
… Petitioners …Respondent (By Sri.Gopalakrishna R. Hegde, Advocate) These Writ Petitions are filed under Articles 226 and 227 of the Constitution of India, praying to quash the e-auction sale notice issued securitization and reconstruction of financial assets and enforcement of security interest, issued by the respondent-Bank dated 23.11.2018 vide Annexure- G, G1 and G2 respectively to the writ petition and etc.
These Writ Petitions coming on for Preliminary Hearing in ‘B’ Group, this day, the Court made the following:-
ORDER Sri.S.B.Halli, learned counsel for the petitioners.
Sri.Gopalakrishna R. Hegde, learned counsel for the respondent.
After arguing the matter to some extent, learned counsel for the petitioners seeks leave of this Court to withdraw the writ petitions with liberty to the petitioners to approach the Debts Recovery Tribunal by filing an application under Section 17 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.
The aforesaid submission is taken on record.
Accordingly, the writ petitions are disposed of with liberty as aforesaid.
Sd/- JUDGE dn/-