IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 12TH DAY OF MARCH 2019 BEFORE THE HON’BLE MR. JUSTICE ALOK ARADHE WRIT PETITION NO.2519 OF 2017 (GM-RES) BETWEEN:
1. SMT BHARATI M S W/O M V SRIKANTH, AGED 41 YEARS R/O NO.54, SRI VIJAYALAKSHMI NIVAS, SAJJAN RAO CIRCLE, V V PURAM, BANGALORE-04 2. SRI M V SRIKANTH AGED 47 YEARS R/O NO.54, SRI VIJAYALAKSHMI NIVAS, SAJJAN RAO CIRCLE, V V PURAM, BANGALORE-04 (BY MR. K V NARASIMHAN, ADV. (ABSENT)) AND:
… PETITIONERS 1. THE MALLESWARAM CO-OPERATIVE BANK LTD MALLESWARAM, BANGALORE-3, BY ITS GENERAL MANAGER.
2. THE AUTHORISED OFFICER MALLESHWARAM CO-OPERATIVE BANK, MALLESWARAM, BANGALORE-560 003.
… RESPONDENTS (R1 SERVED AND UNREPRESENTED BY MR. K V LOKESH, ADV. FOR R2 ) - - -
THIS WRIT PETITION IS FILED UNDER ARTICLES 226 & 227 OF THE CONSTITUTION OF INDIA, PRAYING TO DIRECT/SET ASIDE/QUASH THE IMPUGNED POSSESSION NOTICE DTD:13.1.2017 ISSUED BY THE R-2 AT ANNEXURE-M TO THE W.P.
THIS WRIT PETITION COMING ON FOR PRELIMINARY HEARING IN ‘B’ GROUP THIS DAY, THE COURT MADE THE FOLLOWING:-
ORDER None for the petitioners.
Sri.K.V.Lokesh, learned counsel for the respondent.No.2 2. In this petition under Article 226 of the Constitution of India, the petitioners have assailed the validity of the impugned notice dated 13.01.2017 under Section 13(2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as ‘the Act’ for short).
4. In view of the order dated 30.01.2019 passed by this Court in W.P.No.6594/2018 and for the reasons assigned therein, the petitioners have a remedy of filing an application under Section 17 of the Act. For the aforementioned reasons, the petition is disposed of with a liberty that in case the petitioners avail of the remedy provided to them under Section 17 of the Act within three weeks from the date of receipt of the certified copy of the order passed today, the Tribunal shall extend the benefit of principles contained under Section 14 of the Limitation Act, 1963, to the petitioners and shall decide the application. Till then, ad-interim order, if any, shall continue.
With the aforesaid liberty, the petition is disposed of.
Sd/- JUDGE SS