IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 23RD DAY OF APRIL, 2019 BEFORE THE HON’BLE MR.JUSTICE ALOK ARADHE WRIT PETITION NO. 39474/2018 (GM-RES) BETWEEN:
SRI G D VENKATESH S/O LATE G V DAMODARA NAIDU AGED ABOUT 55 YEARS, NO.179, I CROSS, I BLOCK III PHASE, III STAGE BANASHANKARI BENGALURU-560085.
(BY SMT. D. KAVITHA, ADV. FOR SRI. KESHAV R. AGNIHOTRI, ADV.) AND 1. INDIABULLS HOUSING FINANCE LTD (IHFL) M-62-63, I FLOOR CONNAUGHT PLACE NEW DELHI-110001 HAVING ITS BRANCH OFFICE AT NO.116, I FLOOR, KRISHNA ARCADE BETWEEN 11TH & 12TH CROSS MARGOSA MAIN ROAD, MALLESWARAM BENGALURU-560003 BY ITS AUTHORISED OFFICER SRI M B CHENGAPPA 2. SPM INDIA LTD., NO.98/1, UNIT 2 KALENA AGRAHARA BEGUR HOBLI ... PETITIONER BANNERGHATTA ROAD, BENGALURU 560 049.
3. SMT. AKHILA (DAUGHTER AND LEGAL HEIR OF CO-BORROWER LATE G V HEMALATHA) NO.179, I CROSS, I BLOCK, III PHASE, III STAGE, BANASHANKARI BENGALURU-560085 4. SMT, AISHWARYA (DAUGHTER AND LEGAL HEIR OF CO-BORROWER LATE G V HEMALATHA) NO.179, I CROSS, I BLOCK, III PHASE, III STAGE, BANASHANKARI BENGALURU-560085 (BY SRI. FRANCIS XAVIER, ADV. FOR C/R1 R3 & R4 SERVED AND UNREPRESENTED) ... RESPONDENTS THIS WRIT PETITION IS FILED UNDER ARTICLES 226 AND 227 OF THE CONSTITUTION OF INDIA PRAYING TO CALL FOR THE ENTIRE RECORDS PERTAINING TO THE FINAL ORDER DATED 19.6.2018 PASSED BY III ADDL. CHIEF METROPOLITAN MAGISTRATE, BENGALURU IN C.MISC. NO. 2666/2017 AND ALSO THE E-AUCTION NOTICE ISSUED BY THE R-1 HEREIN VIDE ANNEX-F AND J; QUASH THE FINAL ORDER DATED 19.6.2018 PASSED BY III ADDL. CHIEF METROPOLITAN MAGISTRATE, BENGALURU IN C.MISC. NO. 2666/2017 AND ALSO THE E-AUCTION NOTICE ISSUED BY R-1 VIDE ANNEX-F AND J AND ETC.
THIS WRIT PETITION COMING ON FOR ORDERS, THIS DAY, THE COURT MADE THE FOLLOWING:
O R D E R Smt. D. Kavitha, learned counsel for Sri. Keshav R. Agnihotri, learned counsel for the petitioner.
Sri. Francis Xavier, learned counsel for the caveator/ respondent No.1.
2. Petition is admitted for hearing. With the consent of learned counsel for the parties, the same is heard finally.
3. In this petition under Articles 226 and 227 of the Constitution of India, petitioner has assailed the validity of the action taken by the 1st respondent-Bank 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).
4. 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.
5. 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.
6. Till the petitioner files an application, ad-interim order dated 06.12.2018 granted by a bench of this Court, shall continue provided the petitioner has complied with the conditions prescribed in the order.
Sd/- JUDGE VP