IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 01ST DAY OF APRIL 2019 BEFORE THE HON’BLE MR. JUSTICE ALOK ARADHE WRIT PETITION NO.29103 OF 2018 (GM-RES) BETWEEN:
SRI V. NAGARAJ S/O. LATE N. VENKATAPPA SETTY AGED ABOUT 40 YEARS HOUSE NO.78, OLD NO.42/D EARLIER NO.42/79, 1ST FLOOR 6TH MAIN ROAD, 3RD BLOCK THYAGARAJANAGAR BASAVANAGUDI BENGALURU-560 028 … PETITIONER (By SRI N. SURESHA, ADVOCATE) AND 1. FULLERTON INDIA CREDIT COMPANY LTD NO.37, 2ND FLOOR BRAHAMANDA COURT LALBAGH ROAD BANGALORE-560 027 REPRESENTED BY ITS AUTHORISED OFFICER 2. MS. K.S. GEETHA W/O. MR. K.S.SHIVAKUMAR NO.78, OLD No.42/D EARLIER NO.42/79 1ST FLOOR, 6TH MAIN ROAD 3RD BLOCK, THYAGARAJANAGAR BASAVANAGUDI BENGALURU-560 028 3. MR. K.S. CHETHAN S/O. MR. K.S. RAMAIAH SHIVAKUMAR AGED ABOUT 25 YEARS R/AT No.78, 5TH MAIN ROAD BULL TEMPLE ROAD EXTENSION THYAGARAJNAGAR NEAR KAMATH HOTEL BANGALORE-560 028 ... RESPONDENTS - - -
THIS WRIT PETITION IS FILED UNDER ARTICLES 226 AND 227 OF THE CONSTITUTION OF INDIA PRAYING TO ISSUE DIRECTION TO RESPONDENT NO.1 NOT TO TAKE PHYSICAL POSSESSION OF THE WRIT PETITON SCHEDULED PORPERTIES AND ETC., THIS PETITION COMING ON FOR ORDERS THIS DAY, THE COURT MADE THE FOLLOWING:-
ORDER Sri N.Suresha, learned Counsel for the petitioner.
2. In this petition, petitioner has assailed the validity of action taken by the 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).
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(4A) of the Act.
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 eight 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.
5. Till the petitioner files an application, ad-interim order dated 11.07.2018 granted by a bench of this Court, shall continue.
Sd/- JUDGE LB