Vaikund Property … vs The Asst General … on 3 June, 2009

IN THE HIGH comm' 012' KARNATAKA AT BANGA1;§3':é'E,T:

DATED THIS THE 3rd DAY OF JUNE M39,    

Pi?ESEN'I' ;  

THE HON'I3LE MR. 13.1). DIfi¥AKAiI€?A!\E.;;_A-CHIEF 

THE'. HOBVBLE MR.JU$Ti{§E._V';.{}.SAI3}£A§iIfIE
WRIT PETrfi0f{ .NC).1?3€%98i';_?(fl):G9_

BETWEEN:   '

1 v;u%KU:~: I3' PRCZvP§',I?'JY- DEVELGPMENT (PVT) LTD
A1CQMPANY..V_R'EGi'ST'ER§€B AND INCORPORATED
U'N_DE'.R 'TH E~.coMPANI'E:s ACT 3956,
ANIIHAVING £'I'$ Q-TFECE AT
RAM LAKSHMAN_ APARTMENTS No.39,

; azaaoum, Roan}. V.V.PURA
 BA_N€3}LAOfi'E 4}__,___REP.BY rrs MANAGING
 1}§~I€E3{;?TOR, MR R.V.NA'I'HAN.

 2'  1  5»i§&'--«R.'"{?.§!4§_5fHAN

 U  LA'f'E VRAJARAMAN
 R/f'a.'7£'.i'g_i£§>.2{)5, RAM LAKSHMAN A
" AI4'EsR'I'MENTS NCL89,
DIAGONAL ROAD, V.V.PURAM,

' ~  BANGALORE 4.  PETITIONERS

  "gm Sn: GIRIDHAR 5:. co. )

"  WLNI) :



1 THE ASST GENERAL MANAGER
/AU'}'I~IGRISED OFFICER , .   _ 
IHMAN BANK, M.G.ROAQ,BRAN{3H,I  ' '
NO.13.0, UNITED MANSIONS   '

M.G.ROAD,   .  "  
BANGALORE 560 001.   RESPQN'*DE'N'I"" "

(By Sri:KESI~IAV BHAT, ;..ADVOCP.'§§E.--. -»;;_

THIS w.P. £8 FILE}i) ' 1?1=:AiY1!\:{;;..,'1*{_>_ QLIASH THE
ORDER PASSED BY THE" pasrf R'?1*3C€;'Xf'§}PéiY APPELLATE
'I'RiBUNAL, cagrmal m;"2?v.4420:'r9_ IN'.R,A'. (SA) 149/2008
Arm CONSEQUERTLY i:3I$Mz"ss4v'r}1.E»V,sA1D APPEAL FILED
BY THE RESPf'flfiI§fE}I'_JT'v3AN'i<::  

 "%a'E{1 fi':    for Preliminaxy Hcaiing
on this "day,"SABHAHIT_J'.,_iILad:: the following.

,  E R

Thisx vzfit  filed haing aggrieved by the

 2  judvgi1iz.e3;f apd  passed by Debt Recov:-:13' Appellate

 "I'Vi¢ib111;z::1, (;E:.¢1=a;éi12after called 'the: Tribunal') Chennai dateti

  I$% .2L(S,.A.)149/2008. The Writ petitioners have

'V  "iv?-:gr§ i1ashing of the order passed by the Tfibunai

u  §"}'.4.2009 and for 3. ciirczction t0 the Bank not to

--  ix-1Vt'é1'f£'¢:rc=: with the peaceful possession and enjoyment of the

T  '";§é'Q'£iox1er No.2 in scheciule-B pr(3perty.

V)'



2. it is I.'-1V6I'I'E:(Z1 in thfi petition that gas 

the pr(3{:eediI1gs-Ixiéiarl Bank I'e;31*es<§3t;tc:cL--  '4'*.¥§{Lth9fis¢d'_'V J, T T

Oflicer initiated proceedingza beiinjc [Debi  

Tribunal, Bmgalore in Orighai Apfifiafificg N$;3f§3 for
recovery of a sum of :«  the
financial assi$tanceAV_eXtem'1gg1:T"   was
secured by way 0'-Vf    interest in
the land and   immovable property
bearing     Bangalore, which
property   schedule-A to the writ

petitien and i;:1 addi'ti.O;:_,  scéond petitioner is a Guarantor

   the sttcond petitioner is the sole

  of the apaxtmcznt bearing No.2(}5. Ram

  Lakshman %A13;q'%jrm11'A"%;¢nts, N089, Diagonal Raad, V.V.P1m.am,

 4i3~;anga1(;I:€;,V"'.§fl1i c:h is morefilliy described in schedule-B

   the pendency of O.a.No.36§/2602

 '-:t:s;AppfidQént~Bank proposed to issue a notice uncier Section

"-4 1':3'(2) of the SARFAESI Act, 2092 by notice dated 26.9.2005.

 ;I'he petitioners filed detailed objections to the notice issued

\/'



under Section 13(2) of the SARFAESI Act  _

considering the oiajections, the :espQ;1dent~Ba;i*.1{:fi;§jree§tent:g§"  

to proceeei against the schedule   

the petitioners were constrained to challenge  en.  ,

the part of the nespon¢i'ea.:1;'t4Ban_ k   ifisfimting
W.P.No.2604«8/2005 begfdre :'his:_ :55 Jsaicl writ
pefifion was (iisposed  pf   directing the

::espondent~--Ba_;nk' 'cor§:sider».V~fhé~s§ a?id-- Vobgecfions and to take

appropxiiéfe 'AdAe?:;isie:i;'"ixi'"s§rict eémfiliance with the Act aad
Rules  éito'   same as expeditiously as

possible,   of two months from the date

  of   ceijy n_f___thc csrder, if not aiready disposed of.

 I-:feWever_, "abjeéitfions of the petitioners were :10': considered a3

 the  issued in the Writ petition and notification

; isie§;;;e€§.;1fi£ier Sectien 13(4) of the smzpgasz Act. Aggrieved

 ..¥3},~.ee¢;;;e Vvwgossession notice dateé 16.6.2066, the petitioner

.'   proceedings before the Debt Recovery Triblmai

 "under Section 17 of the SARFAESI Act, 2092 which was

registered as ASA.N0.1?1/2006. The respo3:1deI1t~Bank

\.--»"



 

4. The learned Counsel appeérizgg 'f_0:'t' i3:é.'t:' 

submitted that the petitio1:ze;1".s_ hav6« i'1'o objcfiiiiétl Tori  

1:*espondm1t-Ba1:1k to maiise:   of
mortgaged property. .  Hpwavéfg  leéfiiéd counsel
submitted that responcijé'nVt+'Ba--i:1;"'  against
the properties:..deiV$¥c;:ébe(1:AVV'§;:{   éihe writ petition.
For realisat36I'i'Vb_'<oif;'-  gxstitioners in the first
iflstancc  NGs.2(}2, 203 and
103  fmm the safe of the said flats

is not sufi'1c_ifé1;?;,  '~'§rfit.:_".?petitionez's have no objection for

 proceigfifiiiixg v1;1;§;«.sa1e of SChf:d12lfi~A pmperty which is

 »inft}1_:t: Q¢c;1p%itiQ_n of the petitioners and apart from seeking

  Writ pflfifioners are not gzursuing any

V ' othér mm this writ petition. Afifiavit of Sri.R.V.Na.tha:1

  is  '¥_i;1e Managklg Director 0f the first petifiener and

  s¢'coa'd petitioner in this writ petition has been filed

  -~n:3Viterating the sufamissions of {he iearneci cmmse}. appearing

V for the writ petiiioner magic before this court.

\5-



5. Copy of the amdavit has been served upoé;i.._»thc

counsel appearing for the respon€ient~Bank and  

counsel appearing for the m$ponden'£--Bank  V'

liberty may be reserved to the  u

against schedule-«A property if the SQ:   .'

the aificiavit filed by the writ  is izgf: for " L'

satisfying the claim of the   View of
the said mxbmission a1i{i t3:1.cé'-- _a1*§ic1s{{ii£'ffiied_ by the second

;r3eti'£io1j£€:f; ia;*e   
The "   first sell the property

comprisedApa1%t;aé11{S'.!§fo.2O2, 203 and 3.03 as ciescrdbed

 =  in  afiidgvit fiiéci.hyrL:§1iR.V.Nathan~second petitioner who

    Directsr of the first respondent and if

V cannot be sold or the amaunt realised by

the i$ net sufficient for satisfying the claim’ of

..theL—r¢s1;;(§nc¥cnt~Bank, it is open to the mspondent-Bank to

— against the gropcrty described in ‘A’ schedule to the

” petition. Apari from making the abcvc $a:id observations,

M

the writ petitioners are not entitied to any other

Writ peffiion.

Aacorciingly, the wrii peuti¢5:;, fis.V_;1is;5’o-sgav cgf,

above said observations. ‘
V’

Ifidisxz Ycss,/. T//””

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