A borrower challenged a bank's e-auction sale notice under the securitisation act. The auction did not take place for want of bidders and the petitioner had deposited only part of the required amount, so the court dismissed the petition as infructuous.
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IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 4TH DAY OF DECEMBER, 2024
BEFORE
THE HON'BLE MR JUSTICE HEMANT CHANDANGOUDAR WRIT PETITION NO. 13670 OF 2024 (GM-RES)
BETWEEN:
SRI B V AMARNATH GUPTA S/O VENUGOPALA GUPTA B AGED ABOUT 66 YEARS RESIDENT OF ANKITHA NILAYA, 3rd BLOCK BEHIND BDO OFFICE, SOMAGUDDA ROAD, CHALLAKERE 577 522 CHITRADURGA DISTRICT.
…PETITIONER
(BY SRI. SIDDAPPA B M., ADVOCATE)
AND:
Digitally signed by B K MAHENDRAKUMAR Location: HIGH COURT OF KARNATAKA
THE BRANCH MANAGER KARNATAKA BANK LTD., CHALLAKERE BRANCH, N R R CIRCLE, BELLARI ROAD, OPP. CHALLAKEREMMA TEMPLE CHALLAKERE 577 522 CHITRADURGA DISTRICT.
(BY SRI. NITHIN CHANDRA M., ADVOCATE)
…RESPONDENT
THIS WRIT PETITION IS FILED UNDER ARTICLE 226 OF THE CONSTITUTION OF INDIA PRAYING TO QUASHING THE PUBLIC NOTICE OF SALE THROUGH E ACTION DATED 24.04.2024 ISSUED BY THE RESPONDENT PRODUCED AS ANNEXURE H TO THE WRIT PETITION IN SO FAR AS PER THE CONCERNED.
THIS PETITION, COMING ON FOR HEARING, THIS DAY, ORDER WAS MADE THEREIN AS UNDER:
CORAM: HON'BLE MR JUSTICE HEMANT CHANDANGOUDAR
NC: 2024:KHC:50005 WP No. 13670 of 2024
ORAL ORDER
The petitioner challenges the sale notice issued under Section 8(6) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.
Sd/(HEMANT CHANDANGOUDAR) JUDGE
BKM
2 provisions across 2 enactments
Sri B V Amarnath Gupta
The Branch Manager, Karnataka Bank Ltd., Challakere Branch
Hemant Chandangoudar
As recorded by the court registry
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