IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 20TH DAY OF FEBRUARY 2019 BEFORE THE HON’BLE MR. JUSTICE ALOK ARADHE WRIT PETITION NOS.17254-256 OF 2017 (GM-RES) BETWEEN:
1. Baba Akhila Sai Jyothi Industries Pvt. Ltd.
Regd Office: 12-2-422/106 Priya Colony, Gudi Malkapur Mehdipatnam Hyderabad-500 028 Andhra Pradesh. By its Director and Authorised Signatory V. Krishnamurthy 2. Velugiri Krishnamurthy Son of late Vishvanadham Aged 53 years R/o House No.550-J, Road No.92 Jubilee Hills, Hyderabad – 500 033. Andhra Pradesh.
3. Smt. Velugiri Lakshmi Kumari Wife of Sri V. Krishnamurthy Aged 49 years Resident of House No.550-J Road No.92, Jubilee Hills Hyderabad – 500033 Andhra Pradesh … Petitioners (By Sri. Shashidhar Belag, Advocate for Sri. X. M. Joseph, Advocate ) AND:
1. The Director Department of Financial Services Ministry of Finance Government of India 3rd Floor, Jeevan Deep Building Sansad Marg New Delhi – 110 001 2. State of Karnataka By its Chief Secretary Vidhana Soudha Bengaluru – 560 001 3. State Level Bankers Committee-Karnataka 5th Floor, Corporate Office, Gandhinagar, Bengaluru -560 009 Represented by its Convener 4. Vijaya Bank Head Office at No.41/2 M. G. Road, Bengaluru – 560 001 By its Managing Director 5. The Asst. General Manager Corporation Bank Corporate Banking Branch Somajiguda, Hyderabad-500 001 6. The Authorised Officer Corporation Bank Corporate Banking Branch Somajiguda, Hyderabad-500 001 … Respondents (By Sri. Y. D. Harsha, AGA for R2) These Writ Petitions are filed under Article 226 of the Constitution of India, praying to direct respondent Nos.4 and 5 to consider the petitioner’s request for “One Time Settlement” vide Annexure-E dated 14.02.2017 in the light of facts stated in their in and in the light of petitioners payment of `47.49 Crores as against loan limit of `50.85 crores as stated vide Writ Petition Para No.8 and in the light of petitioners generation of revenue to state exchequer Rs.27.00 Crores from September 2008 to January 2017 as stated vide Writ Petition Para 9.
These Writ Petitions coming on for Orders, this day, the Court made the following:-
ORDER Sri.Shashidhar Belag, learned counsel for Sri.X.M. Joesph, learned counsel for the petitioners. Sri. Y.D. Harsha, learned Additional Government Advocate for respondent No.2.
Petitions are admitted for hearing. With the consent of the parties, the same are heard finally.
2. In these petitions, petitioners inter alia have prayed for a direction to consider the petitioners request for “One Time Settlement” contained in Annexure-E dated 14.02.2017 in the lights of facts made therein. The petitioners also seek quashment of the measures taken against them under Section 13(3A) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as ‘the Act’ for short).
3. Writ petitions are pending before this Court since 2017, in which no interim order has been passed. Therefore, in view of the decision of this Court in the order dated 30.01.2019 passed in W.P.No.6594/2018, the petitioners have an efficacious remedy of approaching the Debts Recovery Tribunal (hereinafter referred to as ‘the Tribunal’ for short) by filing an application against the measures, which has been taken by respondent No.6 under Section 13(3A) of the Act.
4. So far as the prayer of the petitioners with regard to the relief of consideration of his representation under the “One Time Settlement”
Scheme is concerned, writ petitions are disposed of with a direction to the Competent Authority of the Vijaya Bank, Corporate Banking Branch to consider and decide the representation submitted by the petitioners by a speaking order, if not already decided, within a period of one month from the date of receipt of certified copy of the order passed today.
5. Needless to state that if so aggrieved, petitioners shall be at liberty to file an application under Section 17 of the Act before the Tribunal.
With the aforesaid liberty, petitions stands disposed of.
Sd/- JUDGE Mds/-
CT-HR