IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 19th DAY OF JULY 2019 BEFORE THE HON’BLE MR. JUSTICE ALOK ARADHE WRIT PETITION NO.12697 OF 2019 & WRIT PETITION NOs.19445-455 OF 2019 (GM-DRT) BETWEEN:
1. STATE BANK OF INDIA HAVING ITS CORPORATE CENTRE AT STATE BANK BHAVAN MADAME CAMA ROAD NARIMAN POINT MUMBAI-400 021 AND HAVINT ITS INDUSTRIAL FINACE BRANCH AT 61 RESIDENCY PLAZA RESIDENCY ROAD BENGALURU-580025 2. BANK OF BARODA HAVING ITS HEAD OFFICE AT BARODA HOUSE P B NO.506 MANDAVI, VADODARA-396006 ACTING THROUGH ITS BRANCH OFFICE AT P O BOX 11745 SAMATA BUILDING GENERAL BHOSALE MARG NARIMAN POINT MUMBAI-400 021.
3. CORPORATION BANK HAVING ITS CORPORATE OFFICE AT MANGALADEVI TEMPLE ROAD PANDESHWAR MANGALORE-575001 AND HAVING ITS INDUSTRIAL FINANCE BRANCH AT RALLARAM MEMORIAL BLDG 1ST FLOOR, CSI COMPOUND, MISSION ROAD, BENGALURU-560027.
4. THE FEDERAL BANK LIMITED HAVING ITS REGISTERED OFFICE AT FEDERAL TOWERS ALUVA – 683101 KERALA AND HAVING ITS BRANCH OFFICE AT ST MARKS ROAD 9, HALCYON COMPLEX ST. MARKS ROAD BANGALORE – 560 001.
5. IDBI BANK LIMITED HAVING ITS HEAD OFFICE AT IDBI TOWER, WTC COMPLEX, CUFFE PARADE, MUMBAI – 400 005, MAHARASHTRA, INDIA.
AND ACTING THROUGH ITS BRANCH OFFICE AT CORPORATE BANKING GROUP-FAMG 9TH FLOOR, IDBI COMPLEX CUFFE PARADE, COLABA MUMBAI – 400005 6. INDIAN OVERSEAS BANK HAVING ITS CENTRAL OFFCE AT 763, ANNA SALAI CHENNAI-600002 AND ITS BRANCH OFFICE AT "HARIKRIPA" 26-A S V ROAD SANTACRUZ (W) MUMBAI-400 054 7. JAMMU & KASHMIR BANK LIMITED HAVING ITS REGISTERED OFFICE AT CORPORATE HEADQUARTER MAULANA AZAD ROAD SRINAGAR KASHMIR-190001.
AND ITS BRANCH OFFICE AT SYED HOUSE 124 S V SAVARKAR MARG MAHIM (WEST) MUMBAI-400 016.
8. PUNJAB & SIND BANK HAVING ITS HEAD OFFICE AT 21, RAJENDRA PLACE NEW DELHI-110008 AND HAVING AMONGST OTHERS A BRANCH OFFICE AT J K SOMANI BUILDING BRITISH HOTEL LANE FORT MUMBAI-400023 9. PUNJAB NATIONAL BANK HAVING ITS HEAD OFFICE AT 7 BHIKAJI CAMA PLACE NEW DELHI-110607 ACTING THROUGH ITS LARGE CORPORATE BRANCH AT CENTENARY BUILDING 28 M G ROAD,BENGALURU-560 001 10. UCO BANK HAVING ITS HEAD OFFICE AT 10 BTM SARANI KOLKATA-700 001 WEST BENGAL INDIA AND ITS BRANCH OFFICE AT 1ST FLOOR, 13/22 K G ROAD BENGALURU-560 009 11. UNITED BANK OF INDIA HAVING ITS HEAD OFFICE AT 11 HEMANTA BASU SARANI KOLKATA-700001 ACTING THROUGH ITS BRANCH OFFICE AT NO.40, K G ROAD BENGALURU-560 009 12. JM FINANCIAL ASSET RECONSTRUCTION CO PVT LTD HAVING ITS REGISTERED OFFICE AT 7TH FLOOR CNERGY APPASAHEB MARATHE MARG PRABHADEVI MUMBAI-400025 PETITIONER NOs.1 TO 12 ARE REPRESENTED BY MR C VIDYASHANKARA ASSISTANT GENERAL MANAGER & CASE LEAD OFFICE OF THE PETITIONER NO.1 (By MR. S R TEJAS, ADV. FOR DUA ASSOCIATES) AND:
1. HOUSING DEVELOPMENT FINANCIAL CORPORATION LTD HAVING ITS REGISTERED OFFICE AT RAMON HOUSE HT PAREKH MARG 169 BACKBAY RECLAMATION CHURCH GATE MUMBAI-400020 AND ITS REGIONAL OFFICE AT NO.51 HDFC HOUSE KASTURBA ROAD BENGALURU-560001 REPRESENTED BY ITS AGM & HEAD LEGAL MR NAVEEN PRASAD T A 2. RECOVERY OFFICER-1 DEBTS RECOVERY TRIBUNAL-2 NO.4 RESIDENCY ROAD BENGALURU-560025 3. KINGFISHER FINVEST INDIA LIMITED UB TOWER LEVEL 12 UB CITY NO 24 VITTAL MALLYA ROAD BENGALURU – 560 001 REPRESENTED BY ITS DIRECTOR … PETITIONERS … RESPONDENTS (By SMT. ANURADHA AGNIHOTHRI, ADV. FOR R1, SRI. M N KUMAR, CGC FOR R2, SRI. DHARMENDRA CHATUR, ADV. FOR R3) - - -
THESE WRIT PETITIONS ARE FILED UNDER ARTICLES 226 AND 227 OF THE CONSTITUTION OF INDIA, PRAYING TO QUASH THE ORDER DATED 28.02.2019 PASSED BY THE R-2 VIDE ANNEXURE-A; AND ETC.
THESE WRIT PETITIONS COMING ON FOR PRELIMINARY HEARING IN ‘B’ GROUP THIS DAY, THE COURT MADE THE FOLLOWING:-
ORDER Mr.S.R.Tejan, learned counsel for Dua Associates, learned counsel for the petitioners.
Smt.Anuradha Agrihotri, learned counsel for the respondent No.1.
Mr.M.N.Kumar, learned Central Government counsel for the respondent No.2.
Mr.Dharmendra Chatur, learned counsel for the respondent No.3.
2. The petitions are admitted for hearing. With consent of the learned counsel for the parties, the same are heard finally.
3. In these petitions, the petitioners have assailed the validity of the order dated 28.02.2019 passed by the Recovery Officer under the provisions of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (hereinafter referred to as ‘the Act’ for short).
4. When the matter was taken up today, learned counsel for the respondents submitted that the petitioners have an alternative efficacious remedy of filing an appeal under Section 30 of the Act before the Debt Recovery Tribunal.
5. In view of the aforesaid submissions, learned counsel for the petitioners submits that the petitioners be granted liberty to file an appeal along with application for stay and the application for stay preferred by the petitioners shall be directed to be decided in a time bound manner.
6. In view of the aforesaid submissions and in the facts of the case, the petitions are disposed of with a direction that in case the petitioners file an appeal under Section 30 of the Act along with the application for stay within one week from the date of receipt of certified copy of the order passed today, the Tribunal shall afford them the benefit of principles contained under Section 14 of the Limitation Act and shall decide the appeal on merits. It is further directed that the application for stay shall be heard by the Tribunal and appropriate orders thereafter shall be passed after affording an opportunity of hearing to the parties within a period of one week from the date of filing of such an application. Needless to state that the Tribunal shall make an endeavour to decide the appeal preferred by the petitioners expeditiously.
Sd/- JUDGE RV