IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 21ST DAY OF JANUARY 2019 BEFORE THE HON’BLE MR. JUSTICE ALOK ARADHE WRIT PETITION NO.22482 OF 2018 (GM-RES) BETWEEN:
M/S. LATHA ASSOCIATES A PARTNERSHIP FIRM REP. BY ITS MANAGING PARTNER SRI. BHOJARAJU AGED ABOUT 55 YEARS PLOT NO.P-8, PEENYA INDUSTRIAL ESTATE 3RD STAGE, 10TH MAIN, 2ND CROSS BANGALORE - 560058.
(By Ms. ANITHA H.R. ADV.) AND:
THE BANGALORE CITY CO-OPERATIVE BANK LTD NO.3 PANMPA MAHAKAVI ROAD CHAMRAJPET, BANGALORE - 560018 BY ITS AUTHORIZED OFFICER UNDER SECURITIZATION AND RECONSTRUCTIONS OF FINAL ASSETS AND ENFORCEMENT OF INTEREST ACT 2002.
(By Mr. K.V. LOKESH, ADV., (ABSENT)) - - -
… PETITIONER … RESPONDENT This Writ Petition is filed under Articles 226 & 227 of the Constitution of India, praying to quash the recovery notice dated 4-5-2018 issued by the respondent Bank (Annexure-G). Direct the respondent/bank not to take any further action to sell the industry on the basis of recovery notice dated 4-5-2-18 Annexure-G and etc.
This Writ Petition coming on for preliminary hearing in ‘B’ group this day, the Court made the following:-
ORDER Smt.Anitha H.R.., learned counsel for the petitioner.
None for the respondent.
2. The writ petition is admitted for hearing.
With consent of the parties, the same is heard finally.
3. In this petition under Article 227 of the Constitution of India, the petitioner has assailed the validity of the auction taken by the respondent-Bank under Section 13(2) of the Securitization And Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2003 (hereinafter referred to as ‘the Act’ for short).
4. Learned counsel for the petitioner fairly submitted that against the aforesaid order an appeal under Section 17 of the Act lies.
5. In view of the aforesaid submission and in view of the law laid by Supreme Court in ‘UNITED BANK OF INDIA vs. SATYAWATI TONDON AND ORS’, (2010) 8 SCC 110, the Writ Petition is disposed of with a liberty to take recourse to the appeal under Section 17 of the Act.
Accordingly, the petition is disposed of.
Sd/- JUDGE SS