IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 14TH DAY OF FEBRUARY 2019 BEFORE THE HON’BLE MR. JUSTICE ALOK ARADHE WRIT PETITION NO.12408 OF 2017 (GM-RES) Between:
Smt. S. Ramadevi C/o Shakila Aged about 44 years, R/at No.77/2, 2nd Floor, 2nd Cross, Doresanipalya, J. P. Nagar, 4th Phase, (Next To ICICI Bank) Bengaluru - 560 076.
... Petitioner (By Sri. Lokesha M Y, Advocate (Absent)) And:
1. Punjab National Bank Jayanagara Branch, 4th ‘T’ Block Jayanagar, Bengaluru-560 041.
Represented by Authorized Officer.
2. Sri. Harish N S/o Nagarajaiah S Major by age, Proprietor, M/s Hitech Forge, No.21, 2nd Main, Raghavendra Nagar, Hosakere Halli Layout, Banashankari 3rd Stage, Bengaluru-560 085.
3. Sri. T. Gopinath S/o Not Known Major by age R/at No.383, 22nd Main, AGS Layout, Arehalli Village, Uttarahalli Main, Bengaluru-560 061.
... Respondents (By Sri. K. V. Shyama Prasad, Advocate for R1; R2-served and unrepresented) This Writ Petition is filed under Articles 226 and 227 of the Constitution of India praying to set- aside the sale notice dated 10.04.2017 published in 'The New Indian Express' dated 04.03.2017 at Annexure-B holding the same is illegal and direct R-1 bank including any servants, agents or officers of R-1 initiate the recovery proceedings against R-2 and etc,.
This Petition coming on for Orders, this day, the Court made the following:-
ORDER Sri. K.V. Shyama Prasad, learned counsel for respondent No.1.
In this petition under Articles 226 and 227 of the Constitution of India, petitioner inter alia has assailed the validity of the sale notice dated 10.04.2017.
2. When the matter was taken up today, learned counsel for respondent No.1 submitted that the petitioner has an efficacious remedy under Section 17 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as ‘the Act’ for short). It is also submitted that the petitioner has also not complied with the condition enumerated in the interim order dated 03.04.2017.
3. In view of the aforesaid submissions and taking into account the fact that the petitioner has not complied with the condition incorporated in the order dated 03.04.2017, subject to which stay was granted and for the reasons assigned by this Court in the order dated 30.01.2019 passed in W.P.No.6594/2018, writ petition is disposed of with a liberty to the petitioner to file an application under Section 17 of the Act.
4. Needless to state that in case petitioner files an application before the Debts Recovery Tribunal (hereinafter referred to as ‘the Tribunal’ for short) within a period of three weeks from the date of receipt of certified copy of the order passed today, the Tribunal shall extend the benefit of principles contained under Section 14 of the Limitation Act, 1963 to the petitioner.
Sd/- JUDGE Mds/-