IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 26TH DAY OF MARCH 2019 BEFORE THE HON’BLE MR. JUSTICE ALOK ARADHE WRIT PETITION NO.5217 OF 2015 (GM-RES) BETWEEN:
SMT. D. DEVAKI W/O LATE ARMUGAM AGE 54 YEARS WORKING AS HEAD MISTER AT M/S. SATHYA EDUCATIONAL SOCIETY No.7, 10TH CROSS LAXMI NARAYANAPURA SRIRAMPURA, BANGALORE-560021.
(BY MR. N. SURESHA, ADV.) AND:
CANARA BANK SRIRAMPURAM BRANCH BANGALORE-560002 REP. BY HIS AUTHORIZED OFFICER.
(BY SMT. SUNANDA S. RATHOD, ADV.,) - - -
… PETITIONER … RESPONDENT THIS WRIT PETITION IS FILED UNDER ARTICLE 226 OF THE CONSTITUTION OF INDIA, PRAYING TO DIRECT THE R1 NOT TO TAKE PHYSICAL POSSESSION THE PETITION SCHEDULE PROPERTY. DIRECT THE R1 TO RE-SCHEDULE THE LOAN ACCOUTN & ETC.
THIS WRIT PETITION COMING ON FOR PRELIMINARY HEARING IN ‘B’ GROUP THIS DAY, THE COURT MADE THE FOLLOWING:-
ORDER Mr.N.Suresha, learned counsel for the petitioner.
Mr.Sunanda S. Rathod, learned counsel for the respondent.
2. The writ petition is admitted for hearing.
With consent of the learned counsel for the parties, the same is heard finally.
3. In this petition under Article 226 of the Constitution of India, the petitioner has assailed the validity of the impugned notice under Section 14 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 petitioner has 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 petitioner avails of the remedy provided to them under Section 17 of the Act within four 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 petitioner and shall decide the application.
With the aforesaid liberty, the petition is disposed of.
Sd/- JUDGE SS