Disposed

Sri. Sarvesh G v. Ashoknagar Co-Operative Bank Ltd.

Karnataka HC12 Mar 2024WP/4558/2024

Case brief

AI extract

What is this about?

The High Court of Karnataka disposed of a writ petition contesting a possession notice and an order under the SARFAESI Act. Upon confirmation of partial comjpliance with an earlier interim stay order, the petitioners were directed to approach the bank directly to regularize the account.

What did the court decide?

No relief granted. Petitioners directed to approach the bank to regularize the account.

Sri. Sarvesh G Vs Ashoknagar Co-Operative Bank Ltd. — Banking and Recovery | Karnataka HC (2024)

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1 - NC: 2024:KHC:10079 WP No. 4558 of 2024

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IN THE HIGH COURT OF KARNATAKA AT BENGALURU

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DATED THIS THE 12^TH DAY OF MARCH, 2024

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BEFORE

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THE HON'BLE MR JUSTICE M.NAGAPRASANNA WRIT PETITION NO. 4558 OF 2024 (GM-DRT)

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BETWEEN:

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SRI. SARVESH G., S/O SRI. GOPALAPPA AGED ABOUT 39 YEARS RESIDING AT VILLA NO.84 ’AURORA’ G.R.SUN VILLAS VIRGONAGAR, BENGALURU – 560 049.

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SMT. VEENA G. S., W/O SARVESH G., RESIDING AT VILLA NO.84 ’AURORA’ G.R. SUN VILLAS VIRGONAGAR BENGALURU – 560 049.

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Digitally signed by NAGAVENI Location: HIGH COURT OF KARNATAKA

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M/S. BALAJI INFRASTRUCTURES G. NO.15 AND 16, 1^ST FLOOR MB AND MB COMPLEX SUBASH NAGAR VIRGONAGAR POST BATTARAHALLI BENGALURU – 560 049 REP. BY ITS MANAGING PARTNER SARVESH G., …PETITIONERS

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(BY SRI. KALYAN R., ADVOCATE)

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NC: 2024:KHC:10079 WP No. 4558 of 2024

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AND:

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ASHOKNAGAR CO-OPERATIVE BANK LTD., NO.1380/B, 6^TH CROSS BSK 1^ST STAGE, 2^ND BLOCK BENGALURU - 560 050.

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…RESPONDENT

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(BY SRI. DILEEP N., ADVOCATE C/R)

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THIS WRIT PETITION IS FILED UNDER ARTICLES 226 AND 227 OF THE CONSTITUTION OF INDIA PRAYING TO i) QUASH THE IMPUGNED NOTICE DATED 12/04/2023 BEARING NO.REF-ACBL/2023-24 AS PER ANNEXURE-A TO THE WP ISSUED BY THE RESPONDENT BANK AND NOTICE DATED 20/06/2023 BEARING NO. NIL ISSUED UNDER SECTION 13(4) OF THE SARFAESI ACT, 2002, ISSUED BY THE RESPONDENT BANK AS PER ANNEXURE-B TO THE WP. AND ECTS.,

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

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ORDER

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The petitioners are before this Court seeking the following

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prayers:

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“(i) To issue a writ of certiorari or any other writ or direction and to quash the impugned Notice dated 12.04.2023 bearing No.REF:-ACBL/ /2023-24 as per Annexure-A to the writ petition issued by the respondent bank and notice dated 20/06/2023 bearing No.nil issued under section 13(4) of eh SARFAESI Act, 2002, issued by the respondent bank as per Annexure-B to the writ petition.

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(ii) Issue a writ of certiorari or any writ or direction and to quash the impugned order dated 26/12/2024 in Crl. Misc No. 1748/2023 passed by the Chief

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NC: 2024:KHC:10079 WP No. 4558 of 2024

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Judicial Magistrate, Bangalore rural District, at Bangalore as per Annexure-C to the writ petition.

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(iii) To pass such other order or orders as deem fit by this Hon’ble court under the facts and circumstances of the case.”

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Heard the learned counsel Sri.Kalyan.R., appearing for

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petitioners and Sri.Dileep.N., learned counsel appearing for the respondent/Bank.

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This Court, in order to protect the interest of the petitioners, has passed a slew of orders. The orders passed read as follows:

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15.02.2024:

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“Heard the learned counsel for petitioner.

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The petitioners are calling in question notice dated 12.04.2023, possession notice dated 20.06.2023, issued by the respondent – bank and an order dated 26.12.2023 passed by the Chief Judicial Magistrate, Bengaluru Rural District, Bengaluru, in Crl.Misc.No.1748/2023.

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Learned counsel for the petitioners submits that substantial payment would be made to make the account regular, if reasonable time is granted.

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Therefore, there shall be an interim order of stay of the aforesaid notices and the order dated 26.12.2023, and all further proceedings taken thereto, subject to the petitioners depositing 20% of the outstanding amount, within six weeks, in the following manner:

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1. The petitioners shall deposit 10% within three weeks from today.

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NC: 2024:KHC:10079 WP No. 4558 of 2024

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2. Remainder 10% shall be paid within three weeks, thereafter.

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3. Any deviation in paying the aforesaid amount within the time line as stipulated hereinabove, even of the first instance, would entail vacation of the interim order and would also run the risk of dismissal of the petition itself.

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Office objections shall be complied with, by the next date of hearing.

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List the matter on 06.03.2024.”

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06.03.2024:

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“Learned counsel for the petitioners submits that Rs.12/- lakhs has been deposited and remainder Rs.4/lakhs in terms of the interim order dated 15.02.2024, would be deposited in the next two days.

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List the matter on 12.03.2024.

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Office objections be complied with in the meantime.

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Interim order granted earlier, is extended till the next date of hearing.”

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Learned counsel for petitioners submits that the

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interim order has been complied with in its entirety, which is acknowledged by the respondent-Bank. Learned counsel for petitioners would submit that the outstanding dues insofar as the EMIs are concerned are paid and therefore, the Bank be directed to regularize the account. If that be so, it is for the

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NC: 2024:KHC:10079 WP No. 4558 of 2024

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petitioners to represent to the Bank and the Bank to consider the same and pass appropriate orders, in accordance with law.

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With the aforesaid observations, the petition stands disposed.

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Sd/JUDGE

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BKP List No.: 1 Sl No.: 57 CT:SS

Sri. Sarvesh G v. Ashoknagar Co-Operative Bank Ltd.

Case brief

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Sri. Sarvesh G v. Ashoknagar Co-Operative Bank Ltd.

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