IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 29TH DAY OF MARCH 2019 BEFORE THE HON’BLE MR. JUSTICE ALOK ARADHE WRIT PETITION NO. 34393 OF 2018 (GM-RES) BETWEEN:
SRI A VENKATESWARA PRASAD AGED 51 YEARS, S/O LATE DR. A SREERAMULU NO.5, 29TH MAIN, B.T.M. 2ND STAGE BANGALORE-560076.
(BY MR. M.V.V. RAMANA, ADV.) AND:
1. THE DEPUTY GENERAL MANAGER STATE BANK OF INDIA STRESSED ASSETS MANAGEMENT BRANCH 2ND FLOOR, OFFICE COMPLEX L H O CAMPUS #65, ST MARKS ROAD BANGALORE-560 001.
… PETITIONER 2. SRI SAI SAPTHAGIRI SPONGE PRIVATE LIMITED REP BY ITS MANAGING DIRECTOR SY NO.83/A, TUMTI ROAD BELAGAL VILLAGE BELLARI-583 115.
… RESPONDENTS (BY MR. VIGNESH SHETTY FOR R 1) - - -
THIS WRIT PETITION IS FILED UNDER ARTICLES 226 & 227 OF THE CONSTITUTION OF INDIA, PRAYING TO DIERCT THE R-1 TO RELEASE THE TITLE DEEDS, PERTAINING TO THE PROPERTY WITH NO.13-89/5, MADIWALA VILLAGE, BANGALORE MEASURING ABOUT 2301 SQ.FT. WITH BUILT UP AREA OF 4500 SQ.FT. INCLUDING BASEMENT.
THIS WRIT PETITION COMING ON FOR PRELIMINARY HEARING IN ‘B’ GROUP THIS DAY, THE COURT MADE THE FOLLOWING:-
ORDER Mr.M.V.V.Ramana, learned counsel for the petitioner.
Mr.Vignesh Shetty, learned counsel for the respondent No.1.
2. The writ petition is admitted for hearing.
With consent of the learned counsel for the parties, the same is heard finally.
3. In this petition under Article 226 of the Constitution of India, the petitioner is seeking for a mandamus directing respondent No.1 to release the title deeds, pertaining to the property with No.13-89/5, Madiwala Village.
4. When the matter was taken up today, learned counsel for the petitioner submitted that he has a 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) to approach the Debt Recovery Tribunal.
5. In view of the order dated 30.01.2019 passed by this Court in W.P.No.6594/2018 and for the reasons assigned therein, the petitioner has a remedy of filing an application under Section 17 of the Act. For the aforementioned reasons, the petition is disposed of with a liberty that in case the petitioner avails of the remedy provided to him under Section 17 of the Act within three weeks from the date of receipt of the 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 and shall decide the application.
With the aforesaid liberty, the petition is disposed of.
Sd/- JUDGE SS