IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 19TH DAY OF MARCH 2019 BEFORE THE HON’BLE MR. JUSTICE ALOK ARADHE WRIT PETITION NO.56375 OF 2018 (GM-RES) & WRIT PETITION NO.1052 OF 2019 BETWEEN:
1. SRI. MRUTHYNJAYA AGED ABOUT 59 YEARS S/O CHIKKAMUNIYAPPA HAL AIRCRAFT DIVISION BENGALURU COMPLEX BENGALURU.
2. SMT M LAKSHMI W/O MRUTHYNJAYA AGED ABOUT 49 YEARS R/AT SITE NO.2, KHATHA NO.663/2/425/1 K.R.ANANTHRAM KUMAR LAYOUT WARD NO.22, SULEBELE ROAD, LEFT SIDE DEVANAHALLI TOWN BENGALURU RURAL DISTRICT.
... PETITIONERS (BY SRI. H RAMACHANDRA, ADV. - ABSENT) AND 1. THE AUTHORISED OFFICER RERSERVE BANK OF INDIA NRUPATHUNGA ROAD BENGALURU-560001.
2. SRI MURALI M.R AUTHORIZED OFFICER INDIABULLS HOUSING FINANCE LTD. HAVING ITS REGISTERED OFFICE AT NEW DELHI, BRANCH OFFICE AT NO.116, 1ST FLOOR, KRISHNA ARCADE, BETWEEN 11TH AND 12TH CROSS, MARGOSS MAIN ROAD, MALLESWARAM BENGALURU-560003 ... RESPONDENTS (BY SRI. FRANCIS XAVIER, ADV. FOR SRI. MUNIYAPPA C R GOWDA FOR C/R2) THESE WRIT PETITIONS ARE FILED UNDER ARTICLES 226 AND 227 OF THE CONSTITUTION OF INDIA PRAYING TO QUASH THE ANNEXURE-D DTD:14.6.2018 THE INPUGNED NOTICE ISSUED BY THE AUTHRORIZED OFFICER OF THE R-2.
THESE WRIT PETITIONS COMING ON FOR ORDERS THIS DAY, THE COURT MADE THE FOLLOWING:
O R D E R None for the petitioners.
Sri. Francis Xavier, learned counsel for the respondent No.2.
2. In these petitions, petitioners have assailed the validity of the notice dated 14.06.2018 issued under Section 13(2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as ‘the Act’ for short).
3. It is submitted that after issuance of notice dated 14.06.2018 under Section 13(2) of the Act, the respondent-Bank has passed an order under Section 13(4) of the Act on 04.09.2018.
4. In view of the aforesaid submissions and for the reasons assigned by this Court in the order dated 30.01.2019 passed in W.P.No.6594/2018, the remedy available for the petitioners is to file an application under Section 17 of the Act.
5. Accordingly, petitions are disposed of with liberty to the petitioners that in case they file 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, they shall be entitled to the benefit of principles contained under Section 14 of the Limitation Act, 1963.
Sd/- JUDGE RD