IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 20TH DAY OF MARCH 2019 BEFORE THE HON’BLE MR. JUSTICE ALOK ARADHE WRIT PETITION NO.33501 OF 2017 (GM-RES) BETWEEN:
SRI. M. VIJAYKUMAR S/O LATE MUNIYAPPA AGE 49 YEARS R/AT. No.1229, BTM LAYOUT 1ST STAGE, 1ST PHASE BENGALURU-560029.
(BY MR. N. RAVINDRANATH KAMATH, ADV.) AND:
THE BANGALORE CITY COOPERATIVE BANK LTD., REP. BY HIS AUTHORIZED OFFICER No.3, PAMPAMAHAKAVI ROAD CHAMARAJPET, BANGALORE-560018.
(BY SMT. H.R. UMADEVI, ADV.,) - - -
… PETITIONER … RESPONDENT THIS WRIT PETITION IS FILED UNDER ARTICLE 226 OF THE CONSTITUTION OF INDIA, PRAYING TO QUASH THE SALE NOTICE DTD.7.7.2017 AT ANNEXURE-B. DIRECT THE R1 TO REGULARIZING THE LOAN ACCOUNT & ETC.
THIS WRIT PETITION COMING ON FOR ORDERS THIS DAY, THE COURT MADE THE FOLLOWING:-
ORDER Mr.N.Ravindranath Kamath, learned counsel for the petitioner.
Smt. Umadevi, learned counsel for the respondent.
2. The writ petition is admitted for hearing.
With consent of the parties, the same is heard finally.
3. In this petition under Article 226 of the Constitution of India, the petitioner has assailed the validity of the impugned notice 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).
4. Learned counsel for the petitioner fairly submits that during the pendency of this writ petition, the respondent has taken measures under Section 14 of the Act and he be granted liberty to approach the Debt Recovery Tribunal by moving appropriate application within a period of three weeks from today.
5. In view of the aforesaid submissions, the writ petition is disposed of with a liberty that in case the petitioner files an application before the Debt Recovery Tribunal within a period of three weeks from today, the petitioner shall be accorded with the benefit of principles contained under Section 14 of the Limitation Act, 1963 and the application filed by the petitioner shall be decided in accordance with law. It is made clear that this court has not expressed any opinion on the merits of the case.
With the aforesaid liberty, the petition is disposed of.
Sd/- JUDGE SS