IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 13TH DAY OF MARCH 2019 BEFORE THE HON’BLE MR. JUSTICE ALOK ARADHE WRIT PETITION No.48008/2018 (GM-RES) BETWEEN:
SMT. PUSPALATHA B.C., W/O PUTTARAJU E., AGED ABOUT 38 YEARS, R/O SF-3, 2 AMMA HOMES APARTMENTS, 5TH MAIN,RAGHUVANAHALLI, KANAKAPURA MAIN ROAD, BENGALURU – 560 062.
…PETITIONER (BY SRI M. SIDDARAJU, ADVOCATE) AND:
1. CHIEF MANAGER, STATE BANK OF INDIA, SPECILISED PBB BENGALURU, PB NO.5315, NO-65, ST. MARK ROAD, BENGALURU RACPC – 560 001.
2. AUTHORISED OFFICER, STATE BANK OF INDIA, SPECIALISED PERSONAL, BANKING BRANCH, #65, ST MARK ROAD, BENGALURU – 560 001.
…RESPONDENTS THIS WRIT PETITION IS FILED UNDER ARTICLES 226 AND 227 OF THE CONSTITUTION OF INDIA PRAYING TO QUASH THE NOTICE U/S 13(2) SECURITISATION AND RECONSTRUCTION OF FINANCIAL ASSESTS AND ENFORCEMENT OF SECURITY INTEREST, ISSUED BY RESPONDENT/BANK DATED 12.10.2017 VIDE ANNEXURE – E AND ETC., THIS WRIT PETITION COMING ON FOR PRELIMINARY HEARING THIS DAY, THE COURT MADE THE FOLLOWING:
O R D E R Sri M. Siddaraju, the learned counsel for the petitioner.
Petition is admitted for hearing. With the consent of learned counsel for the petitioner, the same is heard finally.
2. In this petition, petitioner has assailed the validity of the action taken by respondent-Bank 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).
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 she 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, she shall be entitled to the benefit of principles contained under Section 14 of the Limitation Act, 1963. Till the application before the Tribunal is filed, status quo with regard to the property in question shall be maintained by the parties.
Sd/- JUDGE MD