Lender consortium sought a declaration of first charge and priority over Kingfisher Airlines' assets as against service tax and income tax authorities. The petitions were withdrawn; the court dismissed them as not pressed.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
IN THE HIGH COURT OF KARNATAKA AT BENGALURU
DATED THIS THE 15TH DAY OF OCTOBER, 2024
BEFORE
THE HON'BLE MR JUSTICE M.I.ARUN WRIT PETITION NO. 19727 OF 2014 (T-RES)
C/W
WRIT PETITION NO. 19725 OF 2014 (T-IT)
IN WP No. 19727/2014
BETWEEN:
Digitally signed by CHAITHANYA K Location: High Court of Karnataka
NC: 2024:KHC:41941 WP No. 19727 of 2014 C/W WP No. 19725 of 2014
GUJARAT, INDIA AND HAVING ITS CORPORATE OFFICE AT AXIX HOUSE, C-2, WDIA INTERNATIONAL CENTRE, PANDURANG BUDHKAR MARG WORLI MUMBAI-400 025.
AND ACTING THROUGH ITS BRANCH OFFICE AT CORPORATE BANKING GROUP-FAMG 9TH FLOOR, IDBI TOWER, WTC COMPLEX, CUFFE PARADE, COLABA, MUMBAI-400 005.
AND ITS BRANCH OFFICE AT "HARIKRIPA" 26-A, S.V. ROAD, SANTACRUZ (W), MUMBAI-400 054.
NC: 2024:KHC:41941 WP No. 19727 of 2014 C/W WP No. 19725 of 2014
HAVING ITS HEAD OFFICE AT21, RAJENDRA PLACE, NEW DELHI 110 008.
AND HAVING AMONGST OTHERS, A BRANCH OFFICE AT J.K. SOMANI BUILDING, BRITISH HOTEL LANE, FORT, MUMBAI-400 023.
ACTING THROUGH ITS LARGE CORPORATE BRANCH AT CENTENARY BUILDING, 28, M.G. ROAD, BENGALURU-560 009.
AND ITS CORPORATE ACCOUNTS BRANCH AT NO.18, RAMANASHREE ARCADE, M.G. ROAD, BANGALORE-560 001.
AND ITS BRANCH OFFICE AT 1ST FLOOR,13/22, K.G. ROAD, BENGALURU-560 009.
…PETITIONERS
(BY SRI. VIKRAM A.HUILGOL, SENIOR COUNSEL FOR SRI. VEERENDRA PATIL, ADVOCATE)
AND:
…RESPONDENTS
(BY SRI. JEEVAN J NEERALGI FOR R1-5, ADVOCATE; SRI. RAJESH D.M., ADVOCATE FOR R6; SRI. RAVISHANKAR R., ADVOCATE FOR R7)
THIS PETITION IS FILED UNDER ARTICLES 226 & 227 OF THE CONSTITUTION OF INDIA, PRAYING TO DECLARE THAT THE PETITIONERS HAVE FIRST CHARGE AND PRIORITY OVER
THE ASSETS OF RESPONDENT NO.6 SECURED WITH THE PETITIONERS AS AGAINST THE CLAIMS MADE BY RESPONDENT NOs.1 TO 5 AGAINST RESPONDENT NO.6 AND ETC.
IN WP NO. 19725/2014
BETWEEN:
AND HAVING ITS INDUSTRIAL FINANCE BRANCH AT 61, RESIDENCY PLAZA, RESIDENCY ROAD, BENGALURU-580 025.
AT AXIX HOUSE, C-2, WADIA INTERNATIONAL CENTRE, PANDURANG BUDHKAR MARG, WORLI MUMBAI-400 025.
AND HAVING ITS INDUSTRIAL FINANCE BRANCH, AT RALLARAM MEMORIAL BLDG., 1ST FLOOR, CSI COMPOUND, MISSION ROAD, BANGALURU-560 027.
HAVING ITS REGISTERED OFFICE AT FEDERAL TOWERS, ALUVA-683 101, KERALA. AND HAVING ITS BRANCH OFFICE AT ST.MARKS ROAD, 9, HALCYON COMPLEX, ST. MARKS ROAD, BANGALORE-560 001.
AND ACTING THROUGH ITS BRANCH OFFICE AT CORPORATE BANKING GROUP-FAMG 9TH FLOOR, IDBI TOWER, WTC COMPLEX, CUFFE PARADE, COLABA, MUMBAI-400 005.
AND ITS BRANCH OFFICE AT "HARIKRIPA" 26-A, S.V. ROAD, SANTACRUZ (W), MUMBAI-400 054.
AND HAVING AMONGST OTHERS,
A BRANCH OFFICE AT J.K. SOMANI BUILDING, BRITISH HOTEL LANE, FORT, MUMBAI-400 023.
ACTING THROUGH ITS LARGE CORPORATE BRANCH AT CENTENARY BUILDING, 28, M.G. ROAD, BENGALURU-560 001.
NC: 2024:KHC:41941 WP No. 19727 of 2014 C/W WP No. 19725 of 2014
BANKING COMPANIES (ACQUISITION AND TRANSFER OF UNDERTAKING) ACT,1970 (5 OF 1970) HAVING ITS HEAD OFFICE AT 11, HEMANTA BASU SARANI, KOLKATA-700 001. . ACTING THROUGH ITS BRANCH OFFICE AT 40, K.G. ROAD, BENGALURU-560 009. PETITIONER NOs.2 TO 14 ARE REPRESENTED BY MR. S. RANGA VITTAL, AGED ABOUT 50 YEARS S/O MR.C.N. SRINIVASAN ASSISTANT GENERAL MANAGER & RELATIONSHIP MANAGER AMT IV (SMG-V) STATE BANK OF INDIA HVING ITS INDUSTRIAL FINANCE BRANCH AT 61, RESIDENCY PLAZA, RESIDENCY ROAD, BENGALURU-580 025. (BY SRI. VIKRAM A.HUILGOL, SENIOR COUNSEL FOR SRI. VEERENDRA PATIL, ADVOCATE)
…PETITIONERS
AND:
NC: 2024:KHC:41941 WP No. 19727 of 2014 C/W WP No. 19725 of 2014
INCOME TAX(TDS), HMT BHAVAN, BELLARY ROAD, BANGALORE-560 032.
THIS PETITION IS FILED UNDER ARTICLES 226 & 227 OF THE CONSTITUTION OF INDIA, PRAYING TO DECLARE THAT THE PETITIONERS HAVE FIRST CHARGE AND PRIORITY OVER THE ASSETS OF RESPONDENT NO.6 SECURED WITH THE PETITIONERS AS AGAINST THE CLAIMS MADE BY RESPONDENT NOs.1 TO 5 AGAINST RESPONDENT NO.6 AND ETC.
THESE PETITIONS COMING ON FOR HEARING, THROUGH PHYSICAL HEARING/VIDEO CONFERENCING, THIS DAY, ORDER WAS MADE THEREIN AS UNDER:
CORAM: HON'BLE MR JUSTICE M.I.ARUN
NC: 2024:KHC:41941 WP No. 19727 of 2014 C/W WP No. 19725 of 2014
ORAL ORDER
appearing for the petitioners submits that the writ petitions may be dismissed as not pressed. He has filed memos dated 15.10.2024 to that effect.
Sd/(M.I.ARUN) JUDGE
PGG
1 provisions across 1 enactments
SBICAP Trustee Company Ltd.
State Bank of India
Axis Bank Limited
Bank of Baroda
JM Financial Asset Reconstruction Co. Pvt. Ltd.
Corporation Bank
M.I.Arun
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
