This interim order disposed of a WP challenging a sale notice after the bank proceeded. The court accepted that the sale did not take place, deeming the petition infructuous. Petitioner's interim deposit of Rs.14 Lakhs was to be treated towards future sale.
Petition disposed of as infructuous; interim deposit of Rs.14 Lakhs noted for future sale.
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NC: 2024:KHC:9060 WP No. 6169 of 2023
IN THE HIGH COURT OF KARNATAKA AT BENGALURU
DATED THIS THE 5TH DAY OF MARCH, 2024
BEFORE
THE HON'BLE MR JUSTICE M.NAGAPRASANNA WRIT PETITION NO. 6169 OF 2023 (GM-RES)
BETWEEN:
VEENA N., W/O MR. SHIVANANDA H.V., AGED ABOUT 50 YEARS, NO.1536, II STAGE, NEAR RING ROAD, J.P. NAGAR, MYSURU - 570 008. PAN NO. AAUPY7152M
…PETITIONER
(BY SRI. SURENDRA N., ADVOCATE)
AND:
KARNATAKA BANK LTD., Digitally signed by ASSET RECOVERY MANAGEMENT BRANCH, NAGAVENI Location: HIGH REPRESENTED BY ITS AUTHORISED OFFICER, COURT OF III FLOOR KARNATAKA BANK BUILDING, KARNATAKA KODIALBAIL, MANGALURU - 575 003, IT IS REGISTERED UNDER COMPANIES ACT 1979.
…RESPONDENT
(BY SRI. ANANTHA KUMAR M., ADVOCATE)
THIS WP IS FILED UNDER ARTICLES 226 AND 227 OF THE CONSTITUTION OF INDIA PRAYING TO QUASH THE SALE NOTICE DATED:16.02.2023 UNDER SECURITIZATION ACT
NC: 2024:KHC:9060 WP No. 6169 of 2023
(ANNEXURE-A) GRANT AN INTERIM ORDER TO RESTRAIN THE RESPONDENT BANK UNDER SECURITIZATION ACT BY STAYING THE SALE NOTICE DATED: 16.02.2023 AND FURTHER PROCEEDINGS UNDER SECURITIZATION ACT.
THIS PETITION, COMING ON FOR PRELIMINARY HEARING IN 'B' GROUP, THIS DAY, THE COURT MADE THE FOLLOWING:
ORDER
The petitioner is before this court calling in question a notice of sale notified on 16.02.2023 seeking to put up the property of the petitioner on sale. This court showing indulgence had granted an interim order on 20.03.2023, which read as follows:
"There shall be an interim order of stay of the sale notice dated 16.02.2023 issued by the respondent-Bank and all further proceedings taken thereto, subject to petitioner depositing 30% of the outstanding amount within six weeks from today in the following manner:
(i) The petitioner shall deposit 15% of the amount within three weeks;
(ii) Remainder of 15% shall be deposited within next three weeks;
(iii) Any deviation in making such payment, even in the first instance, would entail in vacation of the interim order and the petitioner would run the risk of dismissal of the petition itself."
respondent-Bank would submit that Rs.14 Lakhs has been paid pursuant to the interim order but would further submit that the sale on the intended date did not take place and therefore, the petition is rendered infructuous.
the doors of the appropriate forum, in appropriate
NC: 2024:KHC:9060 WP No. 6169 of 2023
proceedings, at the appropriate time, the petition stands disposed.
Sd/JUDGE
SS List No.: 1 Sl No.: 2 CT:SNN
Veena N.
Karnataka Bank Ltd.
M.Nagaprasanna
As recorded by the court registry
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