IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 22ND DAY OF MARCH 2019 BEFORE THE HON’BLE MR. JUSTICE ALOK ARADHE WRIT PETITION NOS.9267-9268 OF 2019 (GM-RES) BETWEEN:
1. SRI P.VENKATESH S/O.PATALAPPA M.R. AGED ABOUT 50 YEARS R/AT M/S.SRINIVAS ASSOCIATES MANAGONDANAHALLI VILLAGE DEVANAHALLI TALUK BENGALURU RURAL DISTRICT-562 110 AND ALSO R/AT 315/8 KHUSHI NILAYA PRASHANTHNAGAR CHIKKABALLAPURA-562 101 2. SMT.C.N.SHANTHA W/O.SRI P.VENAKTESH AGED ABOUT 43 YEARS R/AT M/S.SRINIVAS ASSOCIATES MANAGONDANAHALLI VILLAGE DEVANAHALLI TALUK BENGALURU RURAL DISTRICT-562 110 AND ALSO R/AT 315/8 KHUSHI NILAYA PRASHANTHNAGAR CHIKKABALLAPURA-562 101 … PETITIONERS (BY SRI S.B.HALLI FOR SRI SIDDARAJU M., ADVOCATES) AND:
THE AUTHORISED OFFICER & CHIEF MANAGER OF STATE BANK OF INDIA ASSET RECOVERY MANAGEMENT BRANCH 2ND FLOOR, A-BLOCK BKG COMPLEX MYSORE BANK CIRCLE AVENUE ROAD BENGALURU-560 009 … RESPONDENT - - -
THESE WRIT PETITIONS ARE FILED UNDER ARTICLES 226 AND 227 OF THE CONSTITUTION OF INDIA PRAYING TO QUASH THE NOTICE UNDER SECTION 13(2) OF THE SECURITISATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY INTEREST ACT, 2002 DATED 01.01.2018 (ANNEXURE-D) ISSUED BY THE RESPONDENT-BANK AND ETC.
THESE PETITIONS COMING ON FOR PRELIMINARY HEARING THIS DAY, THE COURT MADE THE FOLLOWING:-
ORDER Sri S.B.Halli, learned Counsel appearing for Sri Siddaraju M., learned Counsel for the petitioners.
2. Taking into account the order which this Court proposes to pass, it is not necessary to issue notice to the respondent.
3. In these petition, petitioners have assailed the validity of the action taken by respondent-Bank 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).
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 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 a 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 LB