IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 05TH DAY OF APRIL, 2019 BEFORE THE HON’BLE MR. JUSTICE ALOK ARADHE WRIT PETITION NO.5212 OF 2015 (GM-RES) BETWEEN:
SRI G.D. SANDESH S/O. SRI G. DEVENDRA GUPTH AGED ABOUT 31 YEARS RESIDING AT NO.398/5 UPSTAIRS ELEMALLAPPA ROAD BANGERPET KOLAR DISTRICT – 563 114 ... PETITIONER (BY SRI K. SHASHIKANTH PRASAD, ADVOCATE) AND:
1. THE AUTHORISED OFFICER CANARA BANK, BANGERPETE BRANCH NO.1, SANTHE MAIDAN KOLAR ROAD BANGERPET KOLAR DISTRICT – 563 114 2. SRI VENKATESH BABU S/O. MR. RAMKRISHNA PROPRIETOR OF TEA & CO. ELEMALLAPPA ROAD BANGERPET KOLAR DISTRICT – 563 114 ... RESPONDENTS (BY SRI H.S.RUKKOJI RAO, ADVOCATE FOR R1) THIS WRIT PETITION IS FILED UNDER ARTICLES 226 AND 227 OF THE CONSTITUTION OF INDIA PRAYING TO ALLOW THE WRIT PETITION AND SET ASIDE THE ORDER UNDER SECTION 14 OF THE SARFAESI ACT, PASSED BY DEPUTY COMMISSIONER DATED 03.02.2015 VIDE (ANNEXURE – ‘B’) AND ETC., THIS WRIT PETITION COMING ON FOR ORDERS THIS DAY, THE COURT MADE THE FOLLOWING:
O R D E R Sri.D.Shashikanth Prasad, learned counsel for the petitioner.
Sri.H.S.Rukkoji Rao, learned counsel for respondent No.1.
Petition is admitted for hearing. With the consent of learned counsel for the parties, the same is heard finally.
2. In this petition, petitioner has assailed the validity of the action taken by respondent-Bank under Section 14(1) 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 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.
The Petition is disposed of.
SD/- JUDGE BNV