IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 21ST DAY OF AUGUST, 2019 BEFORE THE HON’BLE MR.JUSTICE ALOK ARADHE WRIT PETITION No.3137/2018 (GM – DRT) BETWEEN:
SRI S PADMANABHA, S/O SRI. S GUNDAIAH SHETTY, AGED ABOUT 68 YEARS RESIDING AT NO.3048, GROUND FLOOR, 8TH MAIN ROAD, BSK 2ND STAGE, BENGALURU-560 070.
…PETITIONER (BY SRI V.B.RAVISHANKAR, ADVOCATE-ABSENT) AND:
THE AUTHORIZED OFFICER, RELIGARE FINVEST LIMITED, REGD. OFFICE AT D3, P3B, DISTRICT CENTRE SAKET, NEW DELHI-110 017.
INTER ALIA BRANCH AT NO.3, SANGEETHA TOWERS, 80 FEET ROAD, INDIRANAGAR, BENGALURU-560 038.
(BY SRI JAI M PATIL, ADVOCATE-ABSENT) …RESPONDENT THIS WRIT PETITION IS FILED UNDER ARTICLES 226 AND 227 OF THE CONSTITUTION OF INDIA, PRAYING TO QUASH THE NOTICE DATED 01.01.2018 ISSUED BY THE RESPONDENT VIDE ANNEXURE- A; QUASH THE ORDER PASSED BY THE XXIV ADDL. C.M.M. COURT, BANGALORE IN C.MIS.174/2017 DATED 01.02.2017 VIDE ANNEXURE-F; AND ETC., THIS PETITION COMING ON FOR PRELIMINARY HEARING IN ‘B’ GROUP, THIS DAY, THE COURT MADE THE FOLLOWING:-
O R D E R None for the parties.
Petition is admitted for hearing. Perused the records.
2. In this petition, the petitioner inter alia seeks for quashment of notice dated 1.01.2018 issued by the respondent under Section 13(4) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as ‘the Act’ for short), as well as the order dated 1.02.2017 passed by XXIV Addl. CMM Court, Bengaluru under Section 14 of the Act.
3. Admittedly, against the aforesaid orders, the petitioner has an alternative efficacious remedy of filing an appeal under Section 17 of the Act. In view of the interim order of stay granted by a Bench of this Court vide order dated 19.01.2018, confirmation of sale must not have been held.
4. In the fact situation of the case and for the reasons assigned by 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 Act.
5. 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.
6. Till the petitioner files an application, ad-interim order dated 19.01.2018 granted by a Bench of this Court shall continue provided the petitioner has complied with the conditions prescribed in the order.
It is made clear that this Court has not expressed any opinion on the merits of the case.
Sd/- JUDGE ln.