IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 26TH DAY OF FEBRUARY, 2019 BEFORE THE HON’BLE MR. JUSTICE H. T. NARENDRA PRASAD WRIT PETITION NO.17879 OF 2015 (GM-RES) BETWEEN G.Malleshappa S/o. Late Thimmappa Aged about: 58 years C/o. Obalesha K.B. Building, No.104 BDS Nagar, K.Narayanapura Bangalore – 560 077. ... Petitioner (By Sri S.Venkateshwaran, Adv. for Sri G.A. Anthony Cruze, Adv.) AND 1. The State of Karnataka Represented by its: Deputy Commissioner & District Magistrate Ballari – 583 101.
2. The Thasildhar & Taluka Magistrate Ballari – 583 101.
3. The Authorized Officer Indian Overseas Bank Ananthapur Road Near Royal Circle Ballari – 583 101. …Respondents (By Sri Adithya Kumar H.R., Adv. for Sri S.N. Keshava Bhat Adv. for R3 Smt. Niloufer Akbar, AGA. for R1 and R2) This writ petition is filed under Articles 226 and 227 of the Constitution of India praying to call for relevant records pending on the file of the R-1 pertaining to the order passed dated 25.2.2015 and etc., This Writ Petition coming on for orders this day, the court made the following:
O R D E R This Writ Petition is directed against the order dated 25.02.2015 passed by the Deputy Commissioner – respondent No.1 at Annexure-E passed under Section 14 of Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 ( for short ‘SARFAESI’ Act ).
2. Learned counsel for the respondents has filed an application for vacating interim stay of Annexure-E granted by this Court on 25.04.2015 on the ground that the petitioner has an alternative and efficacious remedy. Therefore, writ petition filed by the petitioner is not maintainable.
3. In view of the law laid down by the Hon’ble Supreme Court in the case of Agarwal Tracom Private Limited v. Punjab National Bank & Others., reported in (2018) 1 SCC 622, the petitioner has an alternative and efficacious remedy under the said Act. However, at the time of admission, this Court had granted an interim order of stay of Annexure-E. The petitioner is at liberty to seek appeal remedy and the interim order granted by this Court dated 25.04.2015 will be continued till the appeal is taken up for consideration by Debt Recovery Tribunal subject to condition that the petitioner shall file such an appeal within four weeks from the date of receipt of a copy of this order.
4. Accordingly, writ petition is disposed of.
Registry to furnish papers, if any, sought for by the petitioner.
Sd/- JUDGE nms