Disposed

Sri. T. R. Vishnumurthy v. Union Bank of India

Karnataka HC5 Dec 2024WP/13211/2023

Case brief

AI extract

What is this about?

Borrower challenged a SARFAESI Section 13(2) demand notice by writ petition instead of filing a statutory reply. The court held the petition not maintainable, disposed it of granting liberty to reply within 15 days, directed the bank to consider the reply under Section 13(3), and restrained precipitative action meanwhile.

What did the court decide?

Liberty to file reply to Section 13(2) notice within 15 days; bank to consider it under Section 13(3); no precipitative action until order passed.

Sri. T. R. Vishnumurthy Vs Union Bank of India — Banking and Recovery | Karnataka HC (2024)

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NC: 2024:KHC:50355 WP No. 13211 of 2023

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IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 5^TH DAY OF DECEMBER, 2024

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BEFORE

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THE HON'BLE MR JUSTICE HEMANT CHANDANGOUDAR WRIT PETITION NO. 13211 OF 2023 (GM-RES)

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BETWEEN:

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SRI. T. R. VISHNUMURTHY S/O T G RAMACHADNRAIAH, AGED ABOUT 51 YEARS, R/AT THOTTADA MANE, BILALUKOPPA, HERTHANAKUDIGE, KOPPA TALUK, CHIKKAMAGALUR DISTRICT 577 114.

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…PETITIONER

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(BY SMT. JAYALAKSHMAMMA K B., ADVOCATE)

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AND:

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

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UNION BANK OF INDIA SRI LAXMI NIVASA, JAYAPURA KALASA ROAD, KOGRI SHANTHIGRAMA POST, KOPPA TALUK, CHIKMAGALUR 577 114 REPRESENTED BY ITS AUTHORIZED OFFICER.

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…RESPONDENT (BY SMT. NATASHA N MURTHY., ADVOCATE FOR SRI. VIGNESH SHETTY, ADVOCATE) THIS WRIT PETITION IS FILED UNDER ARTICLE 226 OF THE CONSTITUTION OF INDIA PRAYING TO QUASH THE IMPUGNED NOTICE DTD 18/05/2023 ISSUED BY THE RESPONDENT U/S 13(2) OF THE SECURITIZATION AND RECONSTRUCTION OF FINANCIAL ASSETS AS ANNEXURE A AND ENFORCEMENT OF SECURITY INTEREST (SARFESI ACT 2002) AND PAPER PUBLICATION DTD 25/05/2023 PUBLISHED

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NC: 2024:KHC:50355 WP No. 13211 of 2023

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IN KANNADA PRABHA DAILY NEWS PAPER PUBLISHED BY THE RESPONDENT BANK-ANNX-B.

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THIS PETITION, COMING ON FOR FINAL HEARING, THIS DAY, ORDER WAS MADE THEREIN AS UNDER: CORAM: HON'BLE MR JUSTICE HEMANT CHANDANGOUDAR

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ORAL ORDER

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The petitioner challenges the notice issued under Section 13(2) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as the “SARFAESI Act”), by which the petitioner was called upon to pay a sum of Rs.58,96,746/- together with further interest and charges at the contractual rate.

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This Court vide order dated 11.07.2023, granted interim order subject to petitioner depositing a sum of Rs.20,00,000/-, and the petitioner has complied with the interim order by depositing the said amount.

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The petitioner instead of replying to the notice issued under Section 13(2) as provided under sub-section 3 of the SARFAESI Act has filed this petition and the same is not maintainable.

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Therefore, the petition stands disposed of by reserving liberty to the petitioner to submit a reply to the notice dated 18.5.2023 issued by the respondent-Bank under

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NC: 2024:KHC:50355 WP No. 13211 of 2023

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Section 13(2) of the SARFAESI Act within 15 days from the date of receiving of certified copy this order.

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If such a reply is submitted by the petitioner, the respondent-Bank to consider the same and pass an appropriate order under Section 13(3) of the SARFAESI Act.

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Till the passing of the order, the respondent-Bank shall not take any preceipitative action in relation to the petitioner's loan account.

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Ordered accordingly.

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Sd/(HEMANT CHANDANGOUDAR) JUDGE

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Sri. T. R. Vishnumurthy v. Union Bank of India

Case brief

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Sri. T. R. Vishnumurthy v. Union Bank of India

Case brief

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Statutes considered

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