Petitioners filed writ petitions under Articles 226/227 challenging recovery proceedings by a bank regarding a loan facility. The court disposed of the petitions after withdrawal by the petitioners based on a mutual One Time Settlement (OTS) agreement.
N/A
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
WP No. 16992/2021 C/W WP No. 33330/2019
IN THE HIGH COURT OF KARNATAKA AT BENGALURU
DATED THIS THE 3RD DAY OF FEBRUARY, 2023
BEFORE
THE HON'BLE MR JUSTICE KRISHNA S DIXIT
WRIT PETITION NO. 16992 OF 2021 (GM-RES) C/W WRIT PETITION NO. 33330 OF 2019(GM-RES)
IN W.P.NO.16992/2021:
BETWEEN:
Digitally signed by CHETAN B C Location: HIGH COURT OF KARNATAKA
S/O LATE BABU SALIAN, AGED ABOUT 64 YEARS, RESIDING AT FLAT NO 603, MATADAKANI ENCLAVE,
WP No. 16992/2021 C/W WP No. 33330/2019
MATADAKANI CROSS ROAD, GANDHINAGAR, MANGALORE 575 003.
…PETITIONERS
(BY SRI. YOGEENDRA ACHAR B.,ADVOCATE)
AND:
THE ASSISTANT GENERAL MANAGER UNION BANK OF INDIA (EARLIER CORPORATION BANK) STRESSED ASSET MANAGEMENT VERTICAL, JEEVAN SAMPIGE (LIC BUILDING)1/1,
GROUND FLOOR, 2ND MAIN ROAD, NEAR MANTRI MALL, MALLESHWARAM, BANGALORE 560 003.
…RESPONDENT
(BY SRI.V B RAVISHANKAR.,ADVOCATE)
THIS WRIT PETITION IS FILED UNDER ARTICELS 226 AND 227 OF THE CONSTITUTION OF INDIA, PRAYING TO DIRECT THE RESPONDENT BANK TO DEFER ALL FURTHER RECOVERY PROCEEDINGS AND RESOLUTION TILL THE DECISION OF THE RBI ON ANNEXURE-R DATED 27.7.2021. IN W.P.NO.33330/2019:
BETWEEN:
M/S YOJAKA INDIA PRIVATE LTD., DOOR NO 3/28/43, II FLOOR ABCO TRADE CENTRE, NH 66, KOTTARA CHOWKI, MANGALORE - 575 006, REP BY ITS MANAGING DIRECTOR, JAGADISH BLOOR, S/O LATE GOPALAKRISHNA SUVARNA, AGED ABOUT 59 YEARS, RESIDING AT SIDDHI FLAT NO 1006, 10TH FLOOR, ABHIMAN PALACE, OPP CANARA HIGH SCHOOL, MANNAGUDDA, MANGALORE 575 003. (BY SRI. YOGEENDRA ACHAR B.,ADVOCATE) AND:
…PETITIONER
…RESPONDENTS
(BY SRI.V B RAVISHANKAR.,ADVOCATE FOR R1;
WP No. 16992/2021 C/W WP No. 33330/2019
SRI. VIDUR NAIR, ADVOCATE FOR KIND & PARTRIDGE STANDING COUNSEL FOR R2)
THIS WRIT PETITION IS FILED UNDER ARTICELS 226 AND 227 OF THE CONSTITUTION OF INDIA, PRAYING TO DIRECT THE R-2 TO CONDUCT AN ENQUIRY REGARDING THE VIOLATIONS OF THE RBI GUIDELINES i.e., ANNEXURE-A BY THE R-1 BANK IN SANCTIONING OVER DRAFT FACILITY OF RS.19.00 CRORES VIDE ANNEXURE-B TO B11 AND DIVERTING IT ILLEGALLY TOWARDS OTHER PURPOSES WITHOUT THE PEITITIONER COMPANY'S CONSENT, KNOWLEDGE AND ALSO IN VIOLATION OF THE SAID RBI GUIDELINES AND SUBMIT A REPORT BEFORE THIS HON'BLE COURT AND ETC.,
THESE PETITIONS, COMING ON FOR FURTHER HEARING, THIS DAY, THE COURT MADE THE FOLLOWING:
ORDER
These Petitions are disposed off as having been
withdrawn as pressed in terms of the two separate
Memos dated 02.01.2023 (with common text) which read as under:
“The Petitioners submit as follows:
1. The Petitioners and the Respondent have mutually agreed for One Time Settlement (OTS) compromise.
2. The petitioners, in view of the said OTS compromise, are hereby not pressing and withdrawing the above case. prays for orders accordingly.”
Bsv
Sd/JUDGE
1 provisions across 1 enactments
M/S YOJAKA INDIA PRIVATE LTD
JAGADISH BOLOOR
B VINAYAKUMAR
DEVADAS BOLOOR
BHARATHI JAGADISH
SHASHIKALA VINAYAKUMAR
Krishna S Dixit
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
