WP No.7240/2006
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NADA KACHERI
KAUJALAGI
TQ:CrOKAK, DIST:BELGAUM. ...RES1?~QN A'
{BY sR1.R.K.HATTI, HCGP FOR R1 AND 3,
SRI.R.M.KULKARNI, ADV FOR R2) p
THIS PETITION IS FILED UNDER ARTICLES' 226 AND 227.
OF THE CONSTITUTION OF INDIA FRAYING TC._Q--UASH_T.HE~._
NOTICE DT.6.1.2006 PASSED BY' R3 VIDE ANNEXURE-A AND ,
PAPER PUBLICATION DT.22.3.2.QO>-$ IN NO.NIL_ FUBLI'SHE'D IN *
VIJAY KARNATAKA DAILY NEWS"*1?APER IS'S.UEDEYv,R1 VIDE
ANNEX--}3 PURPORTEDLY ISSUED UNDER RULES (1)? OF THE
SECURITY INTEREST (ENFORCEMENT) RULES, 200'2'IN SO FAR
AS THE PE'I'I'I'IONER'S S'CHEDULE_'PRO_PERTY IS CONCERNED
AT SL.NO.9 OF PUBLICATIONVIDE'AI\INEX-E13348 AND ETC.,
THIS FE'Ifni1ON ccj._'IQ1'ING~V:ON' PRELIMINARY HEARING
IN 'B' GROUP, '1'H1S;;.DAY., COURT MADETHE FOLLOWING:
1. i"L"iHS"'V11"C1£ifi'1'1 diff3put'e.,that thepetitioner has availed loan
from the 21391'respOnder1_t;=..nijgpcording to petitioner, he has
repaid a stirn of The respondents have initiated
I prQcé:edi_rigs under.t.he«’Securitisation and Reconstruction of
‘Fiin’ancia1*A’bSSetS_ and Enforcement of Security Interest Act,
2’OU2; ‘the Act’) for recovery of the said amount.
Thearesponhdients’ ciaim that they have issued a notice 11/ s 13
(2)’ the Act and further since there was no reply they have
‘initiated proceedings for recovery of the amount by bringing
it “the property to Sale. It is noticed that this Court granted an
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WP N0.7240/2006
interim order subject to the petitioner depositing aV.suJn1,.Vof
Rs.30,279/–. Learned counsel for the
that the said amount has already been deposit.ed:.’:~v._V V in i it
2. Another request made by pe4ti.t’1o’r1eri..in–:
petition is that he has givenfan applica”tion/.1’e’pVre:sentatiioniii’;
for furnishing particulars. loan
transaction particulars Counsel for the
petitioner furtherppsubmitgspthat application to
the respondent§l§3’j3;nk for one’ .settlement.
3. lVIri{Kull<iarnii,i?flearned co1i_tn'seil for the 2nd respondent
submitspthatithe'«p'1*oper"pro,oedure as contemplated under
the Act hasbeen Hence, it is not open for the
" < new toi"covn..tend that notice has not been issued.
44; is made available either by the petitioner
or thegiiiespiondents to show that before initiating action
ix__for bringing the property to sale, proceedings have been
'~ii:"initia«ted under the Act, notice has been issued and a reply
has been given. Indeed, before bringing the property to sale,
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WP No.7240/2006
the respondents are required to issue a noticeVV.Vtio:'the
borrower calling upon him to indicate as to
payable and in the event of non-payment.~o–fi..U_the:
debts, the property would be broiiphtfltoiyp
borrower is also required to t0iith:e"said
(2) of the Act as conternplatedivitiji/'s l3 reply
thereof is required to t1._,{'1–3A {3Ai)Hand 13 (4) of
the Act. Indeed no to show that
such an exerci'se"fias I am of the
View that the property to sale
provisions. Hence,
the following .
V_’I_v’he petition ‘V–.isi”._alloiNed. The impugned proposed
” * _Aauction;_i:3 set aside;’*~—-*It”is open for the respondents to initiate
action é;f15E§’S:1i” they choose to do so. The respondents shall
alsoi”conside”r the application / representation if any given by
the petitioner for one time settlement. Petition stands
C_”disp’osed of accordingly.
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WP N0.7240/2006
5. Mr.R.K.Hatti, I-ICGP is permitted to file rrv1V.c=:Va’a_1:c’)T._V0f
appearance within four Weeks.
Jm/–
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