IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 27TH DAY OF FEBRUARY, 2019 PRESENT THE HON’BLE MR. L. NARAYANA SWAMY ACTING CHIEF JUSTICE AND THE HON’BLE MR.JUSTICE P.S. DINESH KUMAR WRIT APPEAL NO.384 OF 2019 (GM-RES) BETWEEN:
SRI SAI SAPTAGIRI SPONGE PRIVATE LTD., REGD. OFFICE: NO.83/A, TUMATI ROAD BELGAL VILLAGE, PIN CODE:583 104 BELLARY TALUK AND DISTRICT.
REPRESENTED BY ITS DIRECTOR DR. P. RAMAKRISHNA CHOWDARY. ... APPELLANT (BY SRI V.S. HEGDE, ADVOCATE) AND:
1. THE CHAIRMAN AND MANAGING DIRECTOR – STATE BANK BHAVAN STATE BANK OF INDIA CORPORATE CENTRE MADAME CAMA ROAD NARIMAN POINT MUMBAI-400 021.
2. THE DY. GENERAL MANAGER STATE BANK OF INDIA STRESSED ASSETS MANAGEMENT BR. LOCAL HEAD OFFICE COMPLEX ST. MARKS ROAD BANGALORE-560 001. ... RESPONDENTS (BY SRI K. SHASHI KIRAN SHETTY, ADVOCATE FOR SRI VIGNESH SHETYY, ADVOCATE) ---
THIS WRIT APPEAL IS FILED UNDER SECTION 4 OF THE KARNATAKA HIGH COURT ACT, PRAYING TO I) SET ASIDE THE ORDER PASSED BY THE LEARNED SINGLE JUDGE IN WP.NO.41394/2018 (GM-RES) DATED 31.01.2019 II) ALLOW THE WRIT PETITION WITH COST.
THIS APPEAL COMING ON FOR ORDERS THIS DAY, P.S. DINESH KUMAR J, DELIVERED THE FOLLOWING:
JUDGMENT Shri.Vignesh Shetty, learned advocate takes notice for respondents.
2. This appeal is directed against the order dated 31.01.2019 passed in W.P.No.41394/2018 by the learned Single Judge.
2. The learned advocate for the appellant seeks permission to seek for one time settlement as per RBI guildelines and in accordance with law and further submits that till consideration of his prayer, the Bank shall not precipitate the matter.
3. The learned advocate for the respondents submits that if the appellant makes a request within one week, the same will be considered within two weeks and appropriate orders will be passed thereafter.
4. In view of the submission made by the learned advocate for the respondents, the appellant is permitted to make a request for one time settlement within one week from today and if such a request is made, the same shall be considered and disposed of within two weeks thereafter in accordance with law and as per the RBI guidelines.
5. Accordingly, the appeal is disposed of.
No costs.
Sd/-
ACTING CHIEF JUSTICE Sd/- JUDGE *ALB/-