Borrower challenged magistrate orders arising from a financial institution's recovery action. With the loan account regularized and a memo filed by the financial institution, the court disposed of the petition directing regular payment of monthly installments, failing which further action under law could follow.
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NC: 2024:KHC:47864 WP No. 1827 of 2022
IN THE HIGH COURT OF KARNATAKA AT BENGALURU
DATED THIS THE 23RD DAY OF NOVEMBER, 2024
BEFORE
THE HON'BLE MRS. JUSTICE ANU SIVARAMAN WRIT PETITION NO. 1827 OF 2022 (GM-RES)
BETWEEN:
SMT. KALPANA A. W/O SREENIVASULU M. AGE 44 YEARS RESIDING AT No.23, 6TH CROSS VIJAYA BANK COLONY BASAVANAPURA MAIN ROAD K.R. PURAM, BENGALURU-560 036 …PETITIONER
(BY SMT. ASHWINI N.V., ADVOCATE FOR SRI. R. CHANNAKESHAVA, ADVOCATE)
AND:
Digitally signed by CHANNEGOWDA PREMA Location: High Court of Karnataka
NC: 2024:KHC:47864 WP No. 1827 of 2022
AGE 55 YEARS No.C-101, SAI MITRA MEADOWS No.91, 1ST 'A' CROSS KAGGADASAPURA MAIN ROAD C.V. RAMAN NAGAR, BENGALURU-560 093
…RESPONDENTS
(BY SRI. D. NARAYANA SWAMY, ADVOCATE FOR R1; SRI. M.V. VEDMURTHY, ADVOCATE FOR R2 & R3)
THIS W.P. IS FILED UNDER ARTILCES 226 OF THE CONSTITUTION OF INDIA, PRAYING TO (a) QUASH THE ORDERS DATED 03.01.2022 PASSED BY THE X ADDITIONAL CHIEF METROPOLITAN MAGISTRATE, BENGALURU IN C.MISC No.50284/2021 AT ANNEXURE-B ANE ETC.
THIS PETITION, COMING ON FOR ORDERS, THIS DAY, JUDGMENT WAS DELIVERED THEREIN AS UNDER:
CORAM: HON'BLE MRS. JUSTICE ANU SIVARAMAN
ORAL JUDGMENT
Heard the learned counsel appearing on either side.
Financial Institution submits that the account has been regularized and that the petitioner has agreed that if there
is any default in payment of installments, respondent No.1
would be authorized to take further action under Section
14 of the Securitisation and Reconstruction of Financial
Assets and Enforcement of Securities Interest Act, 2002 (the 'SARFAESI Act' for short).
and in view of the memo submitted by the learned counsel for respondent No.1, this writ petition is also disposed of recording that the account has been regularized.
directing the petitioner to make payments of monthly installments regularly. Incase of any default in payment of monthly installments, further action can be taken by respondent No.1 in accordance with law.
Sd/(ANU SIVARAMAN) JUDGE
PN List No.: 1 Sl No.: 13
1 issue framed by the court
Should the writ petition challenging orders passed in C.MISC No.50284/2021 be disposed of in view of regularization of the loan account?
1 provisions across 1 enactments
Smt. Kalpana A.
Can Fin Homes Limited, Marathahalli Branch
Sri. Sreenivasulu M.
Sri. Sunil Kumar Kappadath
Anu Sivaraman
As recorded by the court registry
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