IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 16TH DAY OF JULY, 2019 BEFORE THE HON’BLE MR. JUSTICE ALOK ARADHE WRIT PETITION NO.44288 OF 2018 (GM-RES) BETWEEN:
Shri.K.Prasad Aged about 54 years, S/o late K.Ramanjaneyulu, R/at No.8/9/123/1, 9th Main, III Block, Janayanagar, Bengaluru – 560 011.
(By Sri.M.A.Rajendra, Advocate) AND:
The Authorised Officer Religare Finvest Ltd.
Bengaluru.
… Petitioner …Respondent This writ petition is filed under Articles 226 and 227 of the Constitution of India, praying to direct the respondent bank to restructure/repahse/reschedule the repayment schedule on the loan and etc.
This Writ Petition coming on for Orders, this day, the Court made the following:-
ORDER Sri.M.A.Rajendra, learned counsel for the petitioner.
Taking into account the order which this Court proposes to pass, it is not necessary to issue notice to the respondent.
2. In this petition, petitioner has assailed the validity of the action taken by respondent-Bank under Sections 13(4) and 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as ‘the Act’ for short).
3. In view of the decision of this Court in the order dated 30.01.2019 passed in W.P.No.6594/2018 and for the reasons assigned therein, the remedy available for the petitioner is to file an application under Section 17 of the Act.
4. Accordingly, petition is disposed of with liberty to the petitioner that in case he files an application before the Debts Recovery Tribunal within a period of three weeks from the date of receipt of certified copy of the order passed today, he shall be entitled to the benefit of principles contained under Section 14 of the Limitation Act, 1963.
5. It is made clear that this Court has not expressed any opinion on the merits of the case.
Accordingly, the writ petition is disposed of.
dn/-
Sd/- JUDGE