Disposed

Smt. Sreedevi D.C. v. M/S Piramal Capital and Housing Finance Ltd.

Karnataka HC5 Mar 2024WP/3119/2024

Case brief

AI extract

What is this about?

Petitioner challenged a Magistrate's order under the SARFAESI Act via a Writ Petition filed Articles 226 and 227. Claims involved unauthorized sale of mortgaged property. Court directed the party to approach the Debts Recovery Tribunal and disposed of the petition.

What did the court decide?

Petition disposed of with liberty to approach the Debts Recovery Tribunal.

Smt. Sreedevi D.C. Vs M/S Piramal Capital and… — Company and Corporate | Karnataka HC (2024)

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NC: 2024:KHC:9262 WP No.3119 of 2024

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IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 5^TH DAY OF MARCH, 2024 BEFORE

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THE HON'BLE MR. JUSTICE M.NAGAPRASANNA WRIT PETITION NO.3119 OF 2024 (GM-RES)

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BETWEEN:

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Digitally signed by RUPA V Location: HIGH COURT OF KARNATAKA

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SMT. SREEDEVI D.C. AGED ABOUT 45 YEARS W/O SRI. PRASANNA KOKA RESIDING AT FLAT NO.S-206 2ND FLOOR, SVC SRIGANDHA 15TH CROSS, 2ND MAIN HEALTH LAYOUT ANNAPURNESHWARI NAGAR BENGALURU 560091.

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…PETITIONER

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(BY SRI. ANNAIAH C.V. ADV.,)

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AND:

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M/S PIRAMAL CAPITAL AND HOUSING FINANCE LTD COMPANY IS REGISTERED UNDER COMPANIES ACT, 1956 (EARLIER KNOWN AS DEWANA HOUSING FINANCE CORPORATION LTD.,) HAVING ITS BRANCH OFFICE AT NO.13 OLD NO.5, 1ST MAIN ROAD VASANTH NAGAR, BENGALURU 560052 REP. BY ITS AUTHORISED OFFICER MR. ANAND KUMAR N.

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MR. PRASHANTH KUMAR AGED ABOUT 39 YEARS S/O SRI. SHANKARSHETTY.

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NC: 2024:KHC:9262 WP No.3119 of 2024

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MRS. ASHARANI .S AGED ABOUT 34 YEARS W/O MR. PRASHANTH KUMAR.

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BOTH ARE RESIDING AT NO.9, 2ND FLOOR NANJUNDESHWARA NILAYA NEXT TO MEENAKSHI CHOULTRY SHIVANNA LAYOUT, R.R. NAGAR BENGALURU 560098.

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…RESPONDENTS

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(BY SMT. K.B. SHREEDEVI, ADV., FOR R1)

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THIS WRIT PETITION IS FILED UNDER ARTICLE 226 AND 227 OF THE CONSTITUTION OF INDIA, PRAYING TO QUASH THE ORDER DTD 23.9.2023 PASSED BY THE VII ADDL CHIEF POLITIAN MAGISTRATE IN CRL.MISC.NO.4331/2023 VIDE ANNEXURE-L IN RESPECT OF THE FLAT NO.G-003, 3BHK, IN GROUND FLOOR, EAST FACING IN THE APARTMENT BUILDING KNOWN AS SVC ORCHID, HAVING A SUPER BUILT UP AREA OF 1522 SQ.FT ALONG WITH RIGHT TO USE COMMON AREAS AND AMENITIES WITH UNDIVIDED SHARE, RIGHT, TITLE AND INTEREST OF 341.5 SQ.FT IN THE LAND ALONG WITH ONE CAR PARKING IN THE STILT/BASEMENT FLOOR, CONSTRUCTED ON THE IMMOVABLE PROPERTY BEARING BBMP KATHA NO.527/1/166/7, PORTION OF CONVERTED LAND BEARING SY.NO.166/7 SITUATED AT KODIGEHALLI VILLAGE, YELAHANKA HOBLI, BENGALURU NORTH TALUK, NOW COMES WITHIN THE LIMITS OF BRUHAT BENGALURU MAHANAGARA PALIKE, VIDYARANAYAPURA WARD NO.09, KODIGEHALLI, BENGALURU & ETC.

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NC: 2024:KHC:9262 WP No.3119 of 2024

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THIS PETITION, COMING ON FOR ORDERS, THIS DAY, THE COURT MADE THE FOLLOWING:

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ORDER

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The petitioner is before this Court calling in question an order passed by the learned Magistrate under Section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.

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Heard Sri.Annaiah C.V., learned counsel for the

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petitioner and Smt.K.B.Shreedevi, learned counsel for respondent No.1.

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The borrowers are respondent Nos.2 & 3, they borrowed certain amounts from Dewana Housing Finance Corporation Ltd., which is now merged into the Piramal Capital & Housing Finance Ltd., the respondent No.1. The borrowers initially sells the property in the teeth of the mortgage on 18.06.2018 and later, the purchaser, from the hands of the borrowers, sells the property to the present petitioner on 13.08.2021, all during the subsistence of the mortgage by the borrowers.

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NC: 2024:KHC:9262 WP No.3119 of 2024

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Learned counsel for the petitioner submits that

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the builder has created two sale deeds and has hoodwinked the petitioner.

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Learned counsel for the respondent No.1 submits that the remedy to the petitioner lies before the Debts Recovery Tribunal. Reserving liberty to the petitioner to knock at the doors of the Debts Recovery Tribunal, the petition stands disposed of .

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Sd/JUDGE

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BSR

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List No.: 1 Sl No.: 41

Smt. Sreedevi D.C. v. M/S Piramal Capital and Housing Finance Ltd.

Case brief

What is this about?

What did the court decide?

Smt. Sreedevi D.C. v. M/S Piramal Capital and Housing Finance Ltd.

Case brief

What is this about?

What did the court decide?

What the court decided

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Statutes considered

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