IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 20TH DAY OF FEBRUARY 2019 BEFORE THE HON’BLE MR. JUSTICE ALOK ARADHE WRIT PETITION NO.7999 OF 2019 (GM-RES) BETWEEN:
M/s Shankar Enterprises Unit No.601, Municipal No.8/9, 5th Floor, Prestige Nebula, Cubbon Road, Bengaluru-560 001.
Represented by its Authorised Signatory, Sri. Gowry Shankar Sastri S/o Late Subramania Sastri, Aged about 56 years, R/at No.701, Sterling Orchards, 217, 5th Cross, RMV Extension, Sadashivanagara, Bengaluru-560 080.
(By Sri M. Y. Lokesha, Advocate) AND:
M/s Housing Development Finance Corporation Ltd., (HDFC Ltd.) No.51, HDFC House, Kasturba Road, Bengaluru – 560001 Represented by its Authorised officer … Petitioner … Respondent (By Sri B. S. Mahendra, Advocate for C/R1.) This Writ Petition is filed under Articles 226 & 227 of the Constitution of India, praying to set aside the Order dated 4.1.2019 passed by the VIII Additional Metropolitan Magistrate at Bengaluru, in Crl.Misc.No.5525/2018 as per Annexure-B holding the same is illegal and etc.
This Writ Petition coming on for Orders, this day, the Court made the following:-
ORDER Sri. Lokesha M.Y., learned counsel for the petitioner.
Sri. B.S. Mahendra, learned counsel for respondent No.1.
Petition is admitted for hearing. With the consent of the parties, the same is heard finally.
2. In this petition, petitioner has assailed the validity of the order dated 04.01.2019 passed by the VIII Additional Metropolitan Magistrate at Bengaluru under Section 14 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 a 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.
Sd/- JUDGE Mds/-