IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 22ND DAY OF AUGUST 2019 BEFORE THE HON’BLE MR. JUSTICE ALOK ARADHE WRIT PETITION NO.5920 OF 2018 (GM-RES) BETWEEN:
SRI ADITYA S/O MR LINGA RAJU AGE ABOUT 40 YEARS NO.8 SRINIDHI LAYOUT GADDEKANE MAGADI ROAD BANGALORE – 560 091 (By MR.PUNITH RAMAKRISHNA, ADV.(ABSENT)) AND:
THE AUTHORIZED OFFICER SYNDICATE BANK YESHWANTHPURA BRANCH NO.47 1ST CROSS GOPAL COMPLEX S C ROAD YESHWANTHPURA BANGALORE – 560 022 (SERVED & UNREPRESENTED) … PETITIONER … RESPONDENT - - -
THIS WRIT PETITION IS FILED UNDER ARTICLES 226 AND 227 OF THE CONSTITUTION OF INDIA, PRAYING TO QUASH THE IMPUGNED POSSESSION NOTICE DATED 29.12.2017 VIDE ANNEX-B ISSUED BY THE RESPONDENT THROUGH PAPER PUBLICATION, AND ETC.
THIS WRIT PETITION COMING ON FOR PRELIMINARY HEARING IN ‘B’ GROUP THIS DAY, THE COURT MADE THE FOLLOWING:-
ORDER Mr.Punith Ramakrishna, learned counsel for the petitioner.
The petition is admitted for hearing.
2. In this petition, the petitioner has assailed the validity of the impugned possession notice dated 29.12.2017 issued by the respondent.
3. When the matter was taken up today, learned counsel for the petitioner fairly submitted that the petitioner has a remedy of filing an application 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). He further submitted that he be granted liberty to file an application under Section 17 of the Act along with the application for stay.
5. In view of the aforesaid submissions, the petition is disposed of with liberty that in case the petitioner files an application under Section 17 of the Act along with an application for stay, 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 within two weeks from the date of filing of such application. Till then, the interim order granted on 09.02.2018 shall continue provided that the petitioner has deposited `3,00,000/- as directed in the aforesaid interim order. It is made clear that this Court has not expressed any opinion on the merits.
Sd/- JUDGE RV