IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 31ST DAY OF OCTOBER 2017 PRESENT THE HON’BLE MR.H.G.RAMESH ACTING CHIEF JUSTICE AND THE HON’BLE MR. JUSTICE P.S.DINESH KUMAR WRIT APPEAL NO.6328/2017 (GM-RES) BETWEEN:
M/S EDELWEISS ASSET RECONSTRUCTION COMPANY LTD., A COMPANY INCORPORATED UNDER THE COMPANIES ACT, 1956 REGISTERED AS A SECURITISATION COMPANY AND RECONSTRUCTION COMPANY PURSUANT TO SECTION 3 OF THE SECURITISATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY INTEREST ACT 2002 AND HAVING ITS REGISTERED OFFICE AT EDELWEISS HOUSE, OFF.CST ROAD KALINA, MUMBAI-400 098 NOW REPRESENTED BY ITS AUTHORIZED SIGNATORY AMRUTA MODAK S/O MAKALANDA MODAK AGED ABOUT 25 YEARS ...APPELLANT (BY SRI VIJAYA SHANKAR S, SENIOR ADVOCATE FOR MS.ANUPARNA BORDOLOI, ADVOCATE) AND:
M/S FINQUEST FINANCIAL SOLUTIONS PVT. LTD., A NON-BANKING FINANCIAL COMPANY INCORPORATED UNDER COMPANIES ACT, 1956 HAVING ITS REGISTERED OFFICE AT 602 BOSTON HOUSE, SUREN ROAD ANDHERI EAST MUMBAI-400 093 …RESPONDENT (BY SRI K.G.RAGHAVAN, SENIOR ADVOCATE FOR SRI SURAJ GOVINDARAJ, ADVOCATE;
SRI UDAYA HOLLA, SENIOR ADVOCATE FOR SRI RAJESH FOR M/S.RAJESH & RAJESH, ADVOCATES FOR IMPLEADING APPLICANT IN IA No.5/2017) THIS WRIT APPEAL IS FILED U/S 4 OF THE KARNATAKA HIGH COURT ACT PRAYING TO SET ASIDE THE IMPUGNED ORDER DATED 17/10/2017 PASSED BY THE LEARNED SINGLE JUDGE IN WRIT PETITION NO.47186/2017 AND CONSEQUENTIALLY BE PLEASED TO DECLARE ALL FURTHER PROCEEDINGS PURSUANT TO THE SALE PROCLAMATION NOTICE DATED 08/08/2017 ISSUED BY THE LEARNED RECOVERY OFFICER, DEBT RECOVERY TRIBUNAL II IN RC NO.8129 IN OA NO.383/2014 AS HIGHLY ARBITRARY, ILLEGAL AND WITHOUT AUTHORITY OF LAW.
THIS WRIT APPEAL COMING ON FOR ORDERS, THIS DAY, THE ACTING CHIEF JUSTICE DELIVERED THE FOLLOWING:
J U D G M E N T Ag.CJ (Oral):
1. This writ appeal is directed against an interlocutory order dated 17.10.2017 passed by a learned Single Judge of this Court in Writ Petition No.47186/2017. The grievance of the appellant is that the learned Single Judge ought to have considered the interim prayer sought for in the writ petition.
2. This Court on 26.10.2017 while ordering emergent notice to the respondent in this appeal has passed the following ex parte interim order of stay:
“Emergent notice re.admission to the respondent returnable on 17.11.2017.
Ad interim stay of all further proceedings pursuant to the sale proclamation dated 08.08.2017 in RC No.8129 in O.A.No.383/2014 issued by Recovery Officer-II, a copy of which is produced as Annexure-A.”
3. We have heard the learned Senior Counsel appearing for the parties. The learned Senior Counsel on both sides are agreeable to appear before the learned Single Judge on 09.11.2017. In view of this, we continue the ad interim ex parte order of stay extracted above only upto 09.11.2017. The parties are at liberty to move the learned Single Judge for listing of the writ petition on 09.11.2017. All contentions of both the parties are kept open. This order shall not prejudice the case of the parties before the learned Single Judge. The learned Single Judge is requested to consider the matter without in any way being influenced by the ad interim ex parte order of stay granted by us till 09.11.2017.
4. The learned Senior Counsel on both sides seek liberty to request the learned Single Judge to dispose of the writ petition finally on merits. Liberty sought for is granted.
5. The appeal is disposed of in the above terms. In view of disposal of the appeal, pending interlocutory applications do not survive for consideration; they stand disposed of accordingly.
Appeal disposed of.
Sd/-
ACTING CHIEF JUSTICE Yn.
Sd/- JUDGE