IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 28TH DAY OF FEBRUARY 2019 BEFORE THE HON’BLE MR. JUSTICE ALOK ARADHE WRIT PETITION Nos.35968-35969 OF 2017 (GM-RES) BETWEEN:
1. Smt. Prema, W/o Sri. Kamalakar, Aged about 47 years, 2. Sri. Kamalakar, S/o. Basavalingappa, Aged about 55 years, Both are R/at No.38, 1st Main, 5th Cross, Garden English School Road, K. G. Nagara, T. Dasarahalli, Bengaluru-560 091.
(By Sri. Srinivas Rao Nadig D, Advocate) AND:
1. Shushruthi Souhardha Sahakara Bank Limited, Peenya Branch, No.68, Shushruthi Nagara, Andrahalli Main Road, Peenya 2nd Stage, Bengaluru-560 091, By its Manager.
… Petitioners 2. Shushruthi Souhardha Sahakara Bank Limited, Peenya Branch, No.68, Shushruthi Nagara, Andrahalli Main Road, Peenya 2nd Stage, Bengaluru-560 091, By its authorized Officer.
3. Reserve Bank of India, Nrupatunga Road, Bengaluru – 560 004.
Represented by its Manager.
… Respondents (By Sri. M. G. Suresha, Advocate for R1 and R2; R3 served) These Writ Petitions are filed under Articles 226 and 227 of the Constitution of India, praying to quash the notice dated 02.01.2017 issued by the bank issued under Section 13(2) of the Securitization Act at Annexure-D and notice dated 20.07.2017 under Section 13(4) of Securitization Act at Annexure-H to writ petition and etc.
These Petitions coming on for Orders, this day, the Court made the following:-
ORDER Memo filed by Sri. Vinod Prasad, learned counsel seeking leave of this Court to retire from the case is accepted.
NOC Vakalath filed by Sri.Srinivas Rao Nadig D., learned counsel appearing on behalf of the petitioners is taken on record.
None for the petitioners.
Sri. M.G. Suresha, learned counsel for respondent Nos.1 and 2.
2. In these petitions, petitioners inter alia seek quashment of the notice dated 02.01.2017 issued by the respondent No.2-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) and possession notice dated 20.07.2017 issued under Section 13(4) of the Act.
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 petitioners is to file an application under Section 17 of the Act.
4. Accordingly, petitions are disposed of with liberty to the petitioners that in case they file 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, they shall be entitled to the benefit of principles contained under Section 14 of the Limitation Act, 1963.
Sd/- JUDGE Mds/-