IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 22ND DAY OF MARCH 2019 BEFORE THE HON’BLE MR. JUSTICE ALOK ARADHE WRIT PETITION NO.42278 OF 2017 (GM-RES) Between:
Chandradevi, W/o Mehtab Chand Jain, R/o Veerapura, Kudligere Hobli, Bhadra Colony, Bhadravathi Taluk, Shivamogga District – 577 301.
Prop. of M/s. Deepak Associates.
(By Smt. Meenakshi, K., Adv. - Absent) And:
... Petitioner Pragathi Krishna Gramin Bank, Regional Office Shivamogga, R & L Section, 1st Floor, Murthyparadise, Vinobanagar, Shivamogga – 577 301.
Represented by Authorized Officer.
(By Sri. T.P.Muthanna, Adv. for C/R) ... Respondent This Writ Petition is filed under Articles 226 and 227 of the Constitution of India, praying to issue writ of prohibition & restrain the respondent from dispossessing the petitioner from the Schedule Property under the Provisions of Securitization and Reconstruction of Finance of Financial Assets and Enforcement of Security Interest Act, 2002 [SARFAESI Act, 2002] and its rules thereon and etc.
This Petition coming on for Preliminary Hearing in ‘B’ Group, this day, the Court made the following:-
ORDER None for the petitioner.
Sri.T.P.Muthanna, learned counsel for caveator/respondent.
In this petition, the petitioner has assailed the validity of possession notice dated 19.06.2017 issued 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) read with Rule 8 of the Security Interest (Enforcement) Rules, 2002.
2. 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.
3. 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 four 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.
4. Till the petitioner files an application, ad-interim order dated 15.09.2017 granted by a Bench of this Court, shall continue provided the petitioner has complied with the conditions prescribed in the order.
dn/-
Sd/- JUDGE