Dismissed

Sri Ganesh Shetti v. the Can Fin Homes Ltd.

Karnataka HC4 Jun 2024WP/12028/2017

Case brief

AI extract

What is this about?

Writ petitions challenged Debt Recovery Tribunal orders rejecting Securitisation Act Section 17 applications to set aside sale notices of secured properties. The Court held that an efficacious appellate remedy exists before the Appellate Tribunal under Section 18 and dismissed the petitions as not maintainable, with liberty to approach the Appellate Tribunal.

What the court decided

AI extract

Sri Ganesh Shetti Vs the Can Fin Homes Ltd. — Banking and Recovery | Karnataka HC (2024)

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NC: 2024:KHC:19178 WP No. 12028 of 2017 C/W WP No. 50530 of 2015 WP No. 12027 of 2017

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IN THE HIGH COURT OF KARNATAKA AT BENGALURU

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DATED THIS THE 4^TH DAY OF JUNE, 2024

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BEFORE

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THE HON'BLE MR JUSTICE HEMANT CHANDANGOUDAR

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WRIT PETITION NO. 12028 OF 2017 (GM-DRT)

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C/W

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WRIT PETITION NO. 50530 OF 2015 (GM-DRT) WRIT PETITION NO. 12027 OF 2017 (GM-DRT)

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IN WP NO.12028/2017

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BETWEEN:

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Digitally signed by B K MAHENDRAKUMAR Location: HIGH COURT OF KARNATAKA

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SRI. GANESH SHETTI, S/O LATE H.D. SHETTI, AGED ABOUT 47 YEARS, R/AT NO.28, 1ST FLOOR, 5^TH MAIN, NAYAK LAYOUT, NEAR B.K. CIRCLE, KOTHANUR DINNE, 8^TH PHASE, J P NAGAR, BANGALORE-560 076

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…PETITIONER

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(BY SRI. RAHAMATHULLA SHARIFF., ADVOCATE)

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AND:

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THE CAN FIN HOMES LTD., REP. BY THE AUTHORIZED OFFICER, NO.586, 2^ND FLOOR, 80 FT. ROAD, 8^TH BLOCK, KORAMANGALA, BANGALORE-506 096

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2 - NC: 2024:KHC:19178 WP No. 12028 of 2017 C/W WP No. 50530 of 2015 WP No. 12027 of 2017

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MRS VANI N., D/O NARASHIMA SHETTI, AGED ABOUT 45 YEARS, R/AT KRISHNAPPA GARDENS, RAMADAS NURSERY ROAD, TAVAREKERE, BANGALORE-506 081

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…RESPONDENTS

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(BY SRI. S.K.M. SHETTY, ADVOCATE FOR R1)

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THIS WP IS FILED UNDER ARTICLES 226 AND 227 OF THE CONSTITUTION OF INDIA PRAYING TO QUASH THE IMPUGNED ORDER PASSED BY THE DEBTS RECOVERY TRIBUNAL KARNATAKA BANGALORE IN S.A.566/2013 DATED 27.5.2014 AT ANNEXURE-A AND PERMIT THE PETITIONER TO CLEAR THE ENTIRE LOAN.

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IN WP NO.50530/2015 BETWEEN:

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SRI. GANESH SHETTI, S/O LATE H.D. SHETTI, AGED ABOUT 45 YEARS, R/AT NO.7/43, 2ND FLOOR, 2ND CROSS, VENKATESHWARA LAYOUT, J.P. NAGAR, 8TH PHASE, BANGALORE-560 076.

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…PETITIONER

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(BY SRI. RAHAMATHULLA SHARIFF., ADVOCATE)

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AND:

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THE CAN FIN HOMES LTD. REP. BY THE AUTHORIZED OFFICER, NO.69 (OLD NO.35), 12TH MAIN,

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3 - NC: 2024:KHC:19178 WP No. 12028 of 2017 C/W WP No. 50530 of 2015 WP No. 12027 of 2017

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JAYANAGAR 3RD BLOCK EAST, BANGALORE-560 011.

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SRI. N. RAMESH AGED ABOUT 62 YEARS, FLAT NO. A-1-1101, GOKULAM APARTMENTS, KANAKAPURA MAIN ROAD, VASANTHAPURA, BANGALORE-560 062.

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…RESPONDENTS

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(BY SRI. S.K.M. SHETTY, ADVOCATE FOR R1; R2 SERVED)

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THIS WP IS FILED UNDER ARTICLES 226 AND 227 OF THE CONSTITUTION OF INDIA PRAYING TO QUASH THE IMPUGNED ORDER PASSED BY THE DEBTS RECOVERY TRIBUNAL KARNATAKA BANGALORE IN S.A.NO.215/2013 DATED 27.5.2014 WHICH IS PRODUCED AT ANNEXURE-A AND PERMIT THE PETITIONER TO CLEAR THE ENTIRE LOAN.

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IN WP NO.12027/2017

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BETWEEN:

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SRI. GANESH SHETTI, S/O LATE H.D. SHETTI, AGED ABOUT 45 YEARS, R/AT NO.28, 1ST FLOOR, 5^TH MAIN, NAYAK LAYOUT, NEAR B.K. CIRCLE, KOTHANUR DINNE, 8^TH PHASE, J P NAGAR, BANGALORE-560 076.

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…PETITIONER

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(BY SRI. RAHAMATHULLA SHARIFF., ADVOCATE)

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4 - NC: 2024:KHC:19178 WP No. 12028 of 2017 C/W WP No. 50530 of 2015 WP No. 12027 of 2017

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AND:

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THE CAN FIN HOMES LTD. REP. BY THE AUTHORIZED OFFICER, NO.69 (OLD NO.35), 12TH MAIN, JAYANAGAR 3RD BLOCK EAST, BANGALORE-560 011.

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SMT. R. NISHA W/O MITHUN ASHOK AGED ABOUT 34 YEARS FLAT NO.A4 814 GOKULAM COMPLEX 8^TH MILE ROAD KANAKAPURA MAIN ROAD, BANGALORE-506 062

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…RESPONDENTS

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(BY SRI. S.K.M. SHETTY, ADVOCATE FOR R1; R2 SERVED)

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THIS WP IS FILED UNDER ARTICLES 226 AND 227 OF THE CONSTITUTION OF INDIA PRAYING TO QUASH THE IMPUGNED ORDER PASSED BY THE DEBTS RECOVERY TRIBUNAL KARNATAKA BANGALORE IN S.A.549/2013 DATED 27.5.2014 AT ANNEXURE-A AND PERMIT THE PETITIONER TO CLEAR THE ENTIRE LOAN.

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THESE PETITIONS, COMING ON FOR ORDERS, THIS DAY, THE COURT MADE THE FOLLOWING:

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5 - NC: 2024:KHC:19178 WP No. 12028 of 2017 C/W WP No. 50530 of 2015 WP No. 12027 of 2017

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ORDER

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In these writ petitions the petitioners are challenging the order passed by the Debt Recovery Tribunal, Bangalore, rejecting the applications filed by the petitioners under Section – 17 of The Securitisation And Reconstruction Of Financial Assets And Enforcement Of Security Interest Act, 2002 (hereinafter referred to as ‘Act’ for brevity), to set-aside the Sale Notices in respect of the subject properties, which were offered as security for repayment of loan.

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2. This Court was not inclined to grant an interim

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order of stay. Even otherwise against an order passed under Section–17 of the Act, an efficacious remedy of appeal is provided before the Appellate Tribunal under Section-18 of the Act. Accordingly, these writ petitions are dismissed as not maintainable, reserving liberty to the

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NC: 2024:KHC:19178 WP No. 12028 of 2017 C/W WP No. 50530 of 2015 WP No. 12027 of 2017

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petitioners to approach the Appellate Tribunal as stated

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under Section–18 of the Act.

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Sd/JUDGE

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JJ List No.: 1 Sl No.: 77

Sri Ganesh Shetti v. the Can Fin Homes Ltd.

Case brief

What is this about?

What the court decided

Sri Ganesh Shetti v. the Can Fin Homes Ltd.

Case brief

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