Disposed

Siva Kiran Vamaraju v. Piramal Capital And Housing Finance Lui(Formerly Dhfl)

Telangana HC10 Jun 2022WP/25027/2022

Case brief

AI extract

What is this about?

The High Court disposed of a writ petition challenging a possession notice issued under the SARFAESI Act. It opined that the petitioner has an available statutory remedy under Section 17 and accordingly did not quash the notice, allowing the bank to proceed unless the petitioner deposits the specified dues.

What did the court decide?

Petitioner directed to deposit 15% of outstanding dues within 30 days to stop further proceedings on the possession notice; writ petition disposed without quashing the notice.

Siva Kiran Vamaraju Vs Piramal Capital… — Contract and Commercial Disputes | Telangana HC (2022)

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HIGH COURT FOR THE STATE OF^TELANGANA AT HYDERABAD

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(Special Original Jurisdiction)

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FRIDAY, THE TENTH DAY OF JUNE TWO THOUSAND AND TWENTY TWO

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PRESENT

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THE HONOURABLE THE CHIEF JUSTICE^UJJALBHUYAN AND

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THE HONOURABLE MRS JUSTICE SUREPALLI^NANDA

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WRIT PETITION NO: 25027 OF 2022

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Between:

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Siva Kiran Vamaraju, Sio Late V.Sita^{RamachandraRao, Aged. about 40 Years, Occ} ;^{Pvt Service, Rio. 'Flat No.1H, Block No.2,Poomaiai LakshitaApartments,N4appedu,} Chennai.

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...PETITIONER

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AND

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Piramal Capital And Housing Finance LU|(Formerly^{DHFL), O/o. AmeerpetBranch} 301, 302 8s 303, 3rd Floor, Solitaire Plaza, Behind^{lmageHospital,Ameerpet,} Hyderabad-50073, Rep by its Authorized Officer.

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...RESPONDENT

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Petition Under Article 226 of lhe Constitution of^{lndia praying that in the} circumstances stated in the affidavit filed therewith,^{the High Court maybe} pleased to issue a Writ or Direction or an Order which^particularly in the nature of WRIT OF MANDAMUS declaring the action of the^{respondentbankunder} SARFAESI in pursuance to the to the^publication of^{possession notice dated} 1110512022 which is published in Business Standard English Newspaper^against the^petition schedule^property i.e, All that the^{Flat No.205, 2nd Floor, Plot Nos 5} and 6, Sy No.417, Dammaiguda, Hio Nagaram(V), Dammaiguda^{G P, Hyderabad} District is illegal, arbitrary, violative of Article^'14 of the Constitution^{of lndia and} consequently direct the respondent not to enforce the said^notice.

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l.A.NO:1 OF 2022

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Petition Under Section 151 CPC^praying that in the circumstances stated in the affidavit filed in support of the^petition, the High Court may be^pleased to grant stay of all further proceedings of the respondent bank under SARFAESI Act in pursuance to the publication of possession notice dated . 1 110512022 which is published in Business Standard English Newspaper against the petition schedule property pending disposal of the main writ petition.

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Counsel for the Petitioner : SRI.KRANTHI KUMAR K Counsel for the Respondent : NONE APPEARED The Court made the following ORDER

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THE HONOURABLE^{SRI JUSTICEUJJAL BHUYAN}

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AND

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THE HONOURABLE^{MRS JUSTICE SUREPALLINANDA} WRIT PETITION^{No.25O2 7 of2022}

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ORDER:^{(Per Hon'bleSn JusticeUjjal Bhugan)}

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Heard Mr. Kranthi^{Kumar K', learned counselfor the} petitioner.

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B1' filing this^{petition under Articl e 226 of the} Constitution^{of India, petitionerseeks quashing of possession} notice dated^{Il.O5'2022issued by the respondent'}

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From the materials^{onrecord, we find that} petitioner is a borrower^{of respondentbut for various reasons} defaulted in^{loan repaymentfor whichrespondentinitiated} proceedings under^{the Securitisation and Reconstruction of} Financial^{Assetsand Enforcementof SecurityinterestACt,} 2002^{(brieflyreferred to hereinafter as the 'SARFAESIAct')'} In this regard^{impugnedpossessionnoticedated Il 'O5'2022} cFme to^{be issued wherefrom we find that outstanding dues}

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UB,J&SN,J W.P.No.25O27 of 2022

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of the petitioner as on 31.05.202t has been quantified by the respondent at Rs.5, 18,946.00.

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Against the aforesaid possession notice, petitioner has filed securitisation application under Section lZ of theSARFAESI Act before the Debts Recovery Tribunal_ll, Hyderabad (Tribunal), which has been numbered as S.A(I.R).No.579 of 2022. However, it is contended that there is no Presiding Officer in the Tribunal even today, thereby rendering the Tribuna1 non-functional. It is in such circumstances that petitioner has approached tl.is Court by filing the present writ petition seeking the relief as indicated above.

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After hearing learned counsel for the petitioner and on due consideration, we are of the view that since petitioner has availed his statutory remedy under Section 17 of the SARFAESI Act, he may pursue the said remedy. That apart, if the petitioner deposits 15% of the outstanding dues /as mentioned above within a period of 30 days from today, respondent shall not proceed further against the petitioner on /'

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3 UB,J&SN,J W.P.No.25027 of 2022

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the basis of the possession notice dated 11.05.2022, u'hich in any event would be subject to S.A(i.R).No.579 of 2022. However, if there is any default by the petitioner in making the payment as above, it would be open to the respondent to proceed for realisation of outstanding dues in accordance with law.

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This disposes of the Writ Petition. However, there shall be no order as to costs.

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As a sequel, miscellaneous applications pending,

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if any, in this Writ Petition, shall starrd closed.

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SD/.K.VENKAIAH ASSISTAryT REGISTRAR //TRUE COPY' L'lL) SECTloN OFFICER

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'1 . The Authorized Officer, Piramal Capital And Housing Finance LUI(Formerly DHFL), O/o. Ameerpet Branch 301, 302 8s 303, 3rd Floor, Solitaire Plaza, Behind lmage Hospital, Ameerpet, Hyderabad-50073. 2. One CC to SRI.KRANTHI KUMAR K, Advocate IOPUCI 3. Two CD Copies

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