IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 16TH DAY OF APRIL, 2019 BEFORE THE HON’BLE MR. JUSTICE ALOK ARADHE WRIT PETITION NO.16242 OF 2019 (GM - RES) BETWEEN:
POTHA REDDY S/O NANJA REDDY AGED ABOUT 53 YEARS L.N.R.EXTENSION, HINDUPUR ROAD PAVAGADA, TUMKUR DISTRICT - 561 202.
(BY SRI ERAPPA REDDY M., ADV.,) AND:
1. THE AUTHORISED OFFICER STATE BANK OF INDIA PAVAGADA BRANCH PAVAGADA TUMKUR DISTRICT - 561 202.
2. STATE BANK OF INDIA PAVAGADA BRANCH PAVAGADA TUMKUR DISTRICT - 561 202. REPRESENTED BY ITS MANAGER 3. M/S SRI SAPTHAGIRI DALL MILL CHALLAKERE ROAD PAVAGADA TUMKUR DISTRICT - 561 202. BY ITS PARTNER SMT. M.S.SANGEETHA … PETITIONER 4. SMT. M.S.SANGEEHA W/O LATE M.V.SRINATH AGED ABOUT 40 YEARS C/O MAHAVEER JAIN LAKSHMIPATHI LAYOUT PAVAGADA TUMKUR DISTRICT - 561 202.
5. M.S. VENKATESH S/O LATE M.V.SRINATH MINOR REP. BY MOTHER AND NATURAL GUARDIAN M.S.SANGEEHA W/O LATE M.V.SRINATH LAKSHMIPATHI LAYOUT PAVAGADA TUMKUR DISTRICT - 561 202.
6. M.S. SRIMAN S/O LATE M.V.SRINATH MINOR REP. BY MOTHER AND NATURAL GUARDIAN M.S.SANGEEHA W/O LATE M.V.SRINATH LAKSHMIPATHI LAYOUT PAVAGADA TUMKUR DISTRICT - 561 202.
7. SMT. M.V. RATHNA W/O LATE M.VENKATARAM AGED ABOUT 50 YEARS #7, NVK APARTMENTS PAVAGADA TUMKUR DISTRICT - 561 202.
… RESPONDENTS THIS WRIT PETITION IS FILED UNDER ARTICLES 226 AND 227 OF THE CONSTITUTION OF INDIA PRAYING TO QUASH THE SALE/AUCTION NOTICE DATED 07.03.2019 ANNEXURE-G ONLY IN RESPECT IF ITEM NOs.5 TO 14 IN ANNEXURE-G AND PERMIT THE PETITIONER TO SELL THE SAME TO MORE THAN THE PRICE FIXED BY THE BANK AND TO DEPOSIT THE SAKE PROCEEDS WITH THE BANK (R-2) AND ETC., THIS WRIT PETITION COMING ON FOR PRELIMINARY HEARING, THIS DAY, THE COURT MADE THE FOLLOWING:-
ORDER Sri.Erappa Reddy.M, learned counsel for the petitioner.
2. In this petition, petitioner has assailed the validity of the action taken by respondent-Bank under Section 13(4) 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.
It is made clear that this Court has not expressed any opinion on the merits of the case.
Sd/- JUDGE VMB