IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 26TH DAY OF MARCH, 2019 BEFORE THE HON’BLE MR.JUSTICE ALOK ARADHE WRIT PETITION NO. 12970/2019 (GM-RES) BETWEEN:
M/S. WHITE HORSE NETWORK SERVICES PVT LTD, REPRESENTED BY ITS MANAGING DIRECTOR, MR KAILASAM P, NO.223, G R Q ARCADE, 3RD FLOOR, SAMPIGE ROAD, MALLESHWARAM, BENGALURU-560003 (BY SRI. A SRIKANTH, ADV.) AND THE AUTHORISED OFFICER KARNATAKA BANK LIMITED, ASSET RECOVERY MANAGEMENT BRANCH, BANGALORE-560002 (BY SRI. K V SHYAMAPRASAD, ADV. FOR C/R) ... PETITIONER ... RESPONDENT THIS WRIT PETITION IS FILED UNDER ARTICLES 226 AND 227 OF THE CONSTITUTION OF INDIA PRAYING TO SET ASIDE THE IMPUGNED NOTICE OF SALE OF THE IMMOVABLE PROPERTIES (ISSUED UNDER THE PROVISIONS OF SARFAESI ACT 2002) DATED 27.02.2019 AS PER ANNEXURE-B AND ETC.
THIS WRIT PETITION COMING ON FOR PRELIMINARY HEARING, THIS DAY, THE COURT MADE THE FOLLOWING:
O R D E R Mr. A. Srikanth, learned counsel for the petitioner. Mr. K. V. Shyamaprasad, learned counsel for respondent.
2. The writ petition is admitted for hearing.
With the consent of the parties, the matter is heard finally.
3. When the matter is taken up today, learned counsel for the respondent submits that the respondent – Bank has sold the property in exercise of the powers under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as ‘the Act’ for short) on 22.03.2019. However, auction has not been confirmed in view of the order passed by this Court in W.P.No.12195/2019.
4. Learned counsel for the petitioner fairly submits that petitioner has already approached the Debts Recovery Tribunal by filing an application. However, he be granted liberty to make a suitable application before the Debts Recovery Tribunal and the Debts Recovery Tribunal be directed to pass appropriate orders on the application which may be filed by the petitioner.
5. In view of the aforesaid submission and the facts of the case, it is directed that in case the petitioner files an appropriate application before the Debts Recovery Tribunal within a period of ten days from today, the Debts Recovery Tribunal, after hearing the parties, shall decide the application within a period of one week from the date of filing of such application by passing a speaking order. Till the application filed by the petitioner is decided, the sale conducted by the respondent – Bank shall not be finalized.
It is made clear that this Court has not expressed any opinion on the merits of the case. Accordingly, the petition is disposed of.
Sd/- JUDGE VP