IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 20TH DAY OF MARCH 2019 BEFORE THE HON’BLE MR. JUSTICE ALOK ARADHE WRIT PETITION NO.8632 OF 2019 (GM-RES) BETWEEN:
Mr. B. Sridhar, S/o late Mr. K. Bheemaiah, Aged about 46 years, No.4321, 1st Cross, 14th Main Road, Subramanyanagar, Bengaluru -560 021.
… Petitioner (By Sri. Sharath Kumar Shetty, Advocate) AND:
TATA Capital Finance Service Ltd., Having its Office at 2nd Floor, Krishna Tower, No.82/1, Richmond Road, Bengaluru.
Represented by its Authorized Officer.
(By Sri. Mohan J. S., Advocate for … Respondent Sri. Mahabaleshwar G.C., Advocate) This Writ Petition is filed under Articles 226 and 227 of the Constitution of India praying to quash the impugned notice dated 14.02.2019 vide Annexure – J issued by the respondent and etc., This Petition coming on for Preliminary Hearing, this day, the Court made the following:-
ORDER Sri. Sharath Kumar Shetty, learned counsel for the petitioner.
Sri. Mohan J.S., learned counsel for Sri. Mahabaleshwar G.C., learned counsel for the respondent.
The petition is admitted for hearing. With the consent of learned counsel for the parties, the same is heard finally.
2. In this petition, petitioner inter alia has assailed the validity of the notice dated 14.02.2019 by which the petitioner has been informed that the property belonging to him has been sold under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as ‘the Act’ for short) read with the Security Interest (Enforcement) Rules, 2002 (hereinafter referred to as ‘the Rules’ for short).
3. When the matter was taken up today, learned counsel for the petitioner submitted that the property belonging to the petitioner has been sold by way of a private treaty under the provisions of the Rules read with the Act by the respondent- Bank.
4. I have considered the submissions made by the learned counsel for the petitioner and perused the record.
5. 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.
6. 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.
Sd/- JUDGE Mds/-