Disposed

M/S Rama Hi Power Tech v. the Authorized Officer City Union Bank Ltd.

Karnataka HC19 Jan 2024WP/799/2024

Case brief

AI extract

What is this about?

This writ petition challenging a bank's possession notice under SARFAESI was disposed of by the High Court of Karnataka. The petitioner sought permission to withdraw the petition due to financial inability to comply with a court direction, with liberty to approach the Debt Recovery Tribunal.

What did the court decide?

Petitioner is allowed to withdraw the writ petition with liberty to approach the Debt Recovery Tribunal, Bengaluru.

M/S Rama Hi Power Tech Vs the Authorized Officer City… — Banking and Recovery | Karnataka HC (2024)

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NC: 2024:KHC:2730 WP No. 799 of 2024

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IN THE HIGH COURT OF KARNATAKA AT BENGALURU

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DATED THIS THE 19^TH DAY OF JANUARY, 2024

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BEFORE

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THE HON'BLE MR JUSTICE M.NAGAPRASANNA WRIT PETITION NO. 799 OF 2024 (GM-RES)

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BETWEEN:

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M/S. RAMA HI POWER TECH A PARTNERSHIP FIRM SITE NO. 66, SEEGEHALLI VILLAGE, MAGADI MAIN ROAD, YESHWANTHAPURA HOBLI, BENGALURU – 562 130. REPRESENTED BY ITS PARTNER/AUTHORIZED SIGNATORY SRI S.VINODH PAN:- AAHFR5011R PH.NO. 7760233633

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…PETITIONER

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(BY SRI. RUDRABHUSHAN C. B., ADVOCATE)

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Digitally signed by PADMAVATHI B K Location: HIGH COURT OF KARNATAKA

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AND:

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THE AUTHORIZED OFFICER CITY UNION BANK LTD., A LIMITED COMPANY INCORPORATED ON 31^ST OCTOBER 1904 CREDIT RECOVERY AND MANAGEMENT DEPARTMENT ”NARAYANA” ADMINISTRATIVE OFFICE NO. 24-B, GANDHI NAGAR KUMBAKONAM - 612 001. REPRESENTED BY ITS CHIEF MANAGER SRI. GOPINATH IFSC CODE:- CIUB0000003

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NC: 2024:KHC:2730 WP No. 799 of 2024

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PH. NO. 0435-2402322

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ALSO HAVING OFFICE AT NO. 17, 5^TH CROSS NEXT TO LARK HOTEL VIDYANAGAR, BOMMASANDRA BENGALURU – 560 099 IFSC CODE PH.NO. 080 27833200

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…RESPONDENT

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(BY SRI. PRAKASHA HEGDE K., ADVOCATE)

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THIS WRIT PETITION IS FILED UNDER ARTICLES 226 AND 227 OF THE CONSTITUTION OF INDIA PRAYING TO QUASH / SET ASIDE THE IMPUGNED POSSESSION NOTICE DATED 28/12/2023 VIDE ANNEXURE-A. GRANT AN INTERIM PRAYER TO STAY ON POSSESSION NOTICE DATED 28/12/2023 VIDE ANNEXURE-A.

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

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ORDER

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Learned counsel for the petitioner files a memo seeking

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permission to withdraw the petition.

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The memo reads as follows:

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“As per the Order / Direction dated 18.01.2024 of this Hon’ble Court, Petitioner had to deposit 15% of the outstanding amount mentioned in Possession Notice dated 28.12.2023 issued by Respondent Bank. But due to the financial crunch situation of the Petitioner, they couldn’t comply with the above said direction. Therefore, Petitioner seek this Hon’ble Court’s permission to withdraw the above said case reserving its liberty to approach Hon’ble

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NC: 2024:KHC:2730 WP No. 799 of 2024

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Debt Recovery Tribunal, Bengaluru for challenging the legality and correctness of SARFAESI Proceedings initiated by Respondent Bank. I pray this Hon’ble Court to take the said memo on record in the interest of Justice and Equity.”

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In terms of the memo, the writ petition is disposed as

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withdrawn.

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Sd/JUDGE

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NVJ List No.: 1 Sl No.: 58 CT:SS

M/S Rama Hi Power Tech v. the Authorized Officer City Union Bank Ltd.

Case brief

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M/S Rama Hi Power Tech v. the Authorized Officer City Union Bank Ltd.

Case brief

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