IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 1ST DAY OF APRIL 2019 BEFORE THE HON’BLE MR. JUSTICE ALOK ARADHE WRIT PETITION NO.34336 OF 2018 (GM-RES) BETWEEN:
SRI. K. M. LAKSHMI, W/O. S. RACHAPPAJI, AGED ABOUT 22 YEARS, R/AT NO. 3564, 7TH CROSS, 1ST MAIN ROAD, GAYATHRI NAGAR, BENGALURU – 560 021.
(BY SRI. N. SURESHA, ADV.) AND:
1. SRI. LAKSHMINARAYAN CO OPERATIVE BANK LTD., NO. 1627/2, PARK ROAD, RAMAMOHANPURAM, BENGLAURU – 560 021. REPRESENTED BY ITS AUTHORIZED OFFICER 2. S. H. SHANKAR, S/O. LATE. H. HARAGAIAH, AGED 63 YEARS, R/AT NO. 3901, 8TH CROSS, GAYATHRINAGAR, BENGALURU – 560 021.
… PETITIONER … RESPONDENTS THIS WRIT PETITION IS FILED UNDER ARTICLE 226 OF THE CONSTITUTION OF INDIA, PRAYING TO ISSUE DIRECTION TO RESPONDENT NO.1 NOT TO TAKE PHYSICAL POSSESSION OF THE WRIT PETITION SCHEDULED PROPERTIES AND ETC.
THIS PETITION COMING ON FOR ORDERS, THIS DAY, THE COURT MADE THE FOLLOWING:-
ORDER Sri. N. Suresha, learned counsel for the petitioner.
In this petition, petitioner inter alia has assailed the validity of the possession notice dated 17.07.2018 under Section 13(4) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as ‘the Act’ for short).
2. 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(4A) of the Act.
3. 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 eight 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.
4. Ad-interim order dated 08.08.2018 granted by a Bench of this Court shall continue for a period of eight weeks from the date of receipt of certified copy of the order passed today.
5. It is made clear that this Court has not expressed any opinion on the merits of the case.
With the aforesaid liberty, writ petition is disposed of.
Sd/- JUDGE Mds/-