IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 28TH DAY OF FEBRUARY 2019 BEFORE THE HON’BLE MR.JUSTICE ALOK ARADHE WRIT PETITION NO.54649/2016 (GM-RES) BETWEEN:
Sri.S.P.Male Gowda, S/o. Malegowda, Aged about 52 years, Proprietor S.P.M.Enterprises, R/at No.Sathi Grama, Kaggere Post, (Kasaba Hobli), K.R.Nagara Taluk, Mysuru District-571 602. ... Petitioner (By Sri.N.Suresha, Adv.,-Absent) AND:
State Bank of Mysuru, Represented by his Authorized Officer, Regional Office-2, Mysore Zone, Sahular Chennaiah Road, Kuvempunagara, Mysuru-570 009. …. Respondent (Respondent served & unrepresented) This Writ Petition is filed under Articles 226 and 227 of the Constitution of India praying to quash the sale notice dated 20.09.2016 published in Kannada Prabha Kannada Daily Newspaper on 21.09.2016 which is at Annexure-B.
This Writ Petition coming on for Preliminary Hearing in ‘B’ Group, this day, the Court made the following:
O R D E R In this petition, the petitioner, inter alia, has prayed for the following reliefs:
“ a) To direct the Respondent to consider the Petitioners request for settlement under O.T.S. Scheme.
b) To award the costs of this Petition;
and c) To pass such other order or orders as this Hon’ble Court deems fit to grant in this type of facts and circumstances of the case in the interest of justice and equity.”
2. A Bench of this Court by an ad-interim order dated 26.10.2016 had directed that there shall be stay of confirmation and creation of third party rights subject to the condition that the petitioner shall deposit a sum of Rs.5,00,000/- with the respondent within three weeks.
3. 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 Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 4. 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.
It is needless to state that if the petitioner complies with the directions mentioned in the ad- interim order dated 26.10.2016, the same shall continue till the petitioner approaches the Debts Recovery Tribunal with an under Section 17 of the Act.
Sd/- JUDGE ln.