IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 19TH DAY OF FEBRUARY 2019 BEFORE THE HON’BLE MR. JUSTICE ALOK ARADHE WRIT PETITION NOS.7297-7298 OF 2019 (GM-RES) & WRIT PETITION NO.7882 OF 2019 BETWEEN 1. M/S KAY KAY AGRO PROCESS PVT LTD NO.34, KACHARAKANAHALLI, SOUKHY ROAD, VIA WHITEFIELD, KASABA HOBLI, HOSKOTE, BENGALURU RURAL DISTRICT-560067 REPRESENTED BY ITS MANAGING DIRECTOR, MR SRINANDAN SINGHAL 2. MR SRINANDAN SINGHAL S/O RAMTILAK SINGHAL, AGED ABOUT 52 YEARS.
3. MRS. ASHA SINGHAL W/O SRINANDHAN SINGHAL, AGED ABOUT 46 YEARS.
BOTH PETITIONER NOS.2 AND 3 ARE: RESIDING AT NO.94K, 8TH CROSS, RMV EXTENSION, SADASHIVANAGAR, BENGALURU-560080 (BY SRI.AMRUTHESH C, ADVOCATE) ... PETITIONERS AND 1. THE RESERVE BANK OF INDIA CENTRAL OFFICE BUILDING, SHAHID BHAGAT SINGH MARG, MUMBAI-400001 REPRESENTED BY ITS GOVERNOR 2. THE KARNATAKA STATE CO-OPERATIVE APEX BANK LTD.
NO.1, ‘UTHUNGA’ PAMPAMAHAKAVI ROAD, CHAMARAJPET, BENGALURU-560018 REP BY ITS PRESIDENT 3. THE AUTHORISED OFFICER THE KARNATAKA STATE CO-OPERATIVE APEX BANK LTD., NO.1, ‘UTHUNGA’ PAMPAMAHAKAVI ROAD, CHAMARAJPET, BENGALURU-560018 .. RESPONDENTS THESE WRIT PETITIONS ARE FILED UNDER ARTICLES 226 AND 227 OF THE CONSTITUTION OF INDIA, PRAYING TO, QUASH THE NOTICE DATED 07.01.2019 ISSUED BY THE R-3 MARKED AS ANNEXURE-E AND ETC.
THESE PETITIONS COMING ON FOR PRELIMINARY HEARING, THIS DAY, THE COURT MADE THE FOLLOWING:-
ORDER Sri.Amruthesh.C, learned counsel for the petitioners.
Taking into account the order which this Court proposes to pass, it is not necessary to issue notice to the respondents.
In these petitions, the petitioners inter alia have assailed the validity of order dated 07.01.2019 issued by respondent No.3 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).
2. When the matters were taken up today, learned counsel for the petitioners submitted that the petitioners have filed objections as well as a representation under Section 13(3) of the Act and the writ petition may be disposed of with a direction to respondent No.2 to consider and decide the representation/objection submitted by the petitioners by a speaking order before proceeding further in the matter.
3. In view of the aforesaid submission and in the facts of the case, the writ petitions are disposed of with a direction to respondent No.2 to consider and decide the representation submitted by the petitioners by a speaking order within a period of three weeks from the date of receipt of the certified copy of the order passed today, before proceeding further in the matter.
Sd/- JUDGE dn/-