IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 20TH DAY OF FEBRUARY 2019 BEFORE THE HON’BLE MR. JUSTICE ALOK ARADHE WRIT PETITION NOs.1972-1973 OF 2018 (GM-RES) BETWEEN 1. SMT. SUNANDAKUMARI W/O RAGHURAMAN, AGED ABOUT 64 YEARS.
2. SRI RAGHURAAMAN W/O LATE L.R.RAMASWAMY, AGED ABOUT 68 YEARS.
BOTH R/AT NO. 8/B, 5TH MAIN, 1ST CROSS, B.O.B.COLONY, J.P.NAGAR, 7TH PHASE, BANGALORE - 560 078.
(BY SRI.NATARAJ R, ADV.) ... PETITIONERS AND MALLESHWARAM CO-OPERATIVE BANK LTD., NO.102, 7TH CROSS, MALLESHWARAM, BANGALORE - 560 003 REP BY ITS AUTHORISED OFFICER.
... RESPONDENT (BY SRI.LOKESH K V, ADV. FOR C/R) THESE WRIT PETITIONS ARE FILED UNDER ARTICLES 226 AND 227 OF THE CONSTITUTION OF INDIA, PRAYING TO QUASH THE ORDER DATED 6.1.2018 PASSED BY THE 44TH ACMM, BANGALORE IN CRL.MISC.NO.1055/2017 AT ANNEX-E AND ETC.
THESE PETITIONS COMING ON FOR PRELIMINARY HEARING, THIS DAY, THE COURT MADE THE FOLLOWING:-
ORDER Sri.Nataraj.R, learned counsel for the petitioners.
Sri.Lokesh K.V., learned counsel for the respondent.
Petitions are admitted for hearing. With the consent of learned counsel for both parties, the same are heard finally.
2. In these petitions, petitioners have assailed the validity of order dated 06.01.2018 passed by the LXIV Additional Chief Metropolitan Magistrate, Bengaluru in Crl.Misc.No.1055/2017 under Section 14 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 of the Act.
4. Accordingly, petitions are disposed of with a 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.
Interim order shall remain in force till the application is filed by the petitioner for grant of interim order relief.
Sd/- JUDGE dn/-