A writ petition challenging a magistrate's order allowing a cooperative bank to take possession of secured property under Section 14 SARFAESI Act was dismissed after the petitioner failed to comply with the interim condition of depositing 30% of the amount due and showed no bona fides.
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NC: 2024:KHC:20456 WP No. 266 of 2023
IN THE HIGH COURT OF KARNATAKA AT BENGALURU
DATED THIS THE 11TH DAY OF JUNE, 2024
BEFORE
THE HON'BLE MR. JUSTICE K. V. ARAVIND
WRIT PETITION No. 266 OF 2023 (GM-RES)
BETWEEN:
…PETITIONER
(BY SRI DEEPAK WAGLE, ADVOCATE FOR SRI KESHAVA BHAT A., ADVOCATE)
AND:
Digitally signed by VALLI MARIMUTHU Location: High Court of Karnataka
…RESPONDENT
(BY SRI VINAY JADHAV H., ADVOCATE FOR SRI B.S.MAHENDRA ADVOCATE FOR C/R)
THIS WRIT PETITION IS FILED UNDER ARTICLES 226 AND 227 OF THE CONSTITUTION OF INDIA PRAYING TO SET ASIDE THE ORDER DATED 13.10.2022 IN CRL.MISC.No. 50321/2022, PASSED BY THE X ADDL CHIEF METROPOLITAN MAGISTRATE , MAYOHALL, BANGALORE (ANNEXURE- A).
NC: 2024:KHC:20456 WP No. 266 of 2023
THIS WRIT PETITION COMING ON FOR PRELIMINARY HEARING IN 'B' GROUP THIS DAY, THE COURT MADE THE FOLLOWING:
ORDER
The petitioner in this petition challenging the order dated 13.10.2022 in Crl. Misc. No.50321/2022 passed by the X Additional Chief Metropolitan Magistrate, Mayohall, Bangalore, whereby the respondent-Bank has taken possession of the property under Section 14 of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2022.
NC: 2024:KHC:20456 WP No. 266 of 2023
liberty to workout their remedies in accordance with law.
Sd/JUDGE
MV List No.: 1 Sl No.: 22
1 issue framed by the court
Whether the writ petition challenging the Magistrate's order permitting the bank to take possession under Section 14 SARFAESI should be entertained given non-compliance with the interim deposit condit
2 provisions across 2 enactments
Muniyappa M.
Mahila Co Operative Bank
K. V. Aravind
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
