Dismissed

Keshava Murthy J v. Reliance Commercial Finance Limited

Karnataka HC5 Aug 2024WP/13648/2024

Case brief

AI extract

What is this about?

Petitioner challenged SARFAESI Section 13(2) demand notice and Section 13(4) possession notice in a writ petition. Having earlier obtained an interim order conditional on depositing Rs.12 Lakhs by 01.08.2024, the petitioner did not comply. The Court dismissed the petition, leaving liberty to approach the Debts Recovery Tribunal under Section 17.

What the court decided

AI extract

Keshava Murthy J Vs Reliance Commercial Finance Limited — Banking and Recovery | Karnataka HC (2024)

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1 - NC: 2024:KHC:30876 WP No. 13648 of 2024

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IN THE HIGH COURT OF KARNATAKA AT BENGALURU

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DATED THIS THE 5^TH DAY OF AUGUST, 2024

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BEFORE

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THE HON'BLE MR JUSTICE HEMANT CHANDANGOUDAR

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WRIT PETITION NO. 13648 OF 2024 (GM-RES)

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BETWEEN:

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KESHAVA MURTHY J S/O LATE JAVAREGOWDA AGED ABOUT 48 YEARS NO.68, 4^TH CROSS, VASTU ENCLAVE, KUDLU VILLAGE, BENGALURU - 560 068.

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… PETITIONER

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(BY SRI. SHIVSHANKER., 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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RELIANCE COMMERCIAL FINANCE LIMITED (SUBSIDIARY OF AUTHUM INVESTMENT AND INFRASTRUCTURE) REGISTERED OFFICE: THE RUBY, 11^TH FLOOR, NORTH WEST WING, PLOT NO.29, SENPATI BAPAT MARG, DADDAR (WEST) MUMBAI - 400 028

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RELIANCE COMMERCIAL FINANCE LIMITED BRANCH OFFICE: NO.39, 30^TH CROSS ROAD, TILAK NAGAR, BANNERGHATTA ROAD, BANGALORE - 560 029.

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AUTHORISED OFFICER / CHIEF MANAGER RELIANCE COMMERCIAL FINANCE LIMITED BRANCH OFFICE NO.39, 30^TH CROSS ROAD, TILAK NAGAR, BANNERGHATTA ROAD, BANGALORE - 560 029.

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… RESPONDENTS

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2 - NC: 2024:KHC:30876 WP No. 13648 of 2024

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THIS W.P. IS FILED UNDER ARTICLES 226 AND 227 OF THE CONSTITUTION OF INDIA, PRAYING TO QUASH THE DEMAND NOTICE DATED 04/12/2023 ISSUED BY THE BANK ISSUED UNDER SECTION 13(2) OF SECURITIZATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY INTEREST ACT, 2002 (HEREIN AFTER CALLED AS SARFAESI ACT) ACT AT ANNEXURE-A AND POSSESSION NOTICE DATED 28/02/2024 UNDER SECTION 13(4) OF SECURITIZATION ACT AT ANNEXURE-B TO THE WRIT PETITION AND ETC.

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THIS PETITION COMING ON FOR ORDERS 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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Petitioner challenges the notice issued under Section 13(2) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short 'the Act').

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This Court vide order dated 02.07.2024 granted interim order subject to petitioner depositing Rs.12 Lakhs on or before 01.08.2024. Admittedly, the petitioner has not complied with the interim order.

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Accordingly, petition stands dismissed reserving liberty with the petitioner to approach the Debts Recovery Tribunal under Section 17 of the Act.

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Sd/(HEMANT CHANDANGOUDAR) JUDGE

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Keshava Murthy J v. Reliance Commercial Finance Limited

Case brief

What is this about?

What the court decided

Keshava Murthy J v. Reliance Commercial Finance Limited

Case brief

What is this about?

What the court decided

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