Sri. C. N. Shanthakumar v. the Asst Managing Director
Case brief
What is this about?
WP No.8994 of 2022 (GM-RES), High Court of Karnataka, decided 03-12-2025 by Justice E.S. Indiresh. Borrower C.N. Shanthakumar challenged Bank of Maharashtra sale notice dated 07.04.2022 (auction fixed 25.04.2022). Held: efficacious remedy before Tribunal under SARFAESI Act, 2002; petitioner relegated to competent Tribunal with condonation under Section 14 of the Limitation Act for time spent in writ petition; Bank restrained from coercive steps for six weeks. Writ petition disposed of.
What did the court decide?
Writ petition disposed of: petitioner relegated to the competent Tribunal under the SARFAESI Act, 2002; period spent in this writ petition to be condoned under Section 14 of the Limitation Act if the remedy before the Tribunal is availed; respondent-Bank directed not to take coercive steps against the petitioner for six weeks from receipt of the order.