Karnataka High Court
Irfan Naseer vs The Authorized Officer on 30 August, 2024
Author: Hemant Chandangoudar
Bench: Hemant Chandangoudar
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NC: 2024:KHC:35599
WP No. 4408 of 2024
IN THE HIGH COURT OF KARNATAKA AT BENGALURU
DATED THIS THE 30TH DAY OF AUGUST, 2024
BEFORE
THE HON'BLE MR JUSTICE HEMANT CHANDANGOUDAR
WRIT PETITION NO. 4408 OF 2024 (GM-RES)
BETWEEN:
IRFAN NASEER
S/O NASEER
AGED ABOUT 35 YEARS,
R/AT NO 183, WIND GATE APARTMENT,
FLAT NO F 01, SECOND FLOOR,
TELECOM LAYOUT, HBR 5TH BLOCK,
BENGALURU - 560 043.
...PETITIONER
(BY SRI. M S NAGARAJA, ADVOCATE)
AND:
1. THE AUTHORIZED OFFICER/
GENERAL MANAGER
PHOENIX ARC PRIVATE LIMITED
BRANCH OFFICE NO 22, INGREDIENTS HOUSE,
M G ROAD, BENGALURU - 560 001.
2. PHOENIX ARC PRIVATE LIMITED
REGD. OFFICE NO 158,
DANI CORPORATE PARK,
Digitally signed by B
K 5TH FLOOR, CST ROAD,
MAHENDRAKUMAR REGISTER UNDER COMPANIES ACT
Location: HIGH
COURT OF KALINA SANTA CURZ (E) MUMBAI-400 098
KARNATAKA REPD. BY ITS GENERAL MANAGER.
...RESPONDENTS
(BY SRI. FRANCIS XAVIER, ADVOCATE)
THIS WP IS FILED THIS WRIT PETITION IS FILED UNDER
ARTICLES 226 AND 227 OF THE CONSTITUTION OF INDIA PRAYING
TO QUASH THE LETTER ISSUED BY THE R1 VIDE NO. PHOENIX /
RESL/3022/2023-24 DATED 27/12/2023 VIDE ANNEXURE-J.
THIS PETITION, COMING ON FOR PRELIMINARY HEARING IN 'B'
GROUP, THIS DAY, ORDER WAS MADE THEREIN AS UNDER:
CORAM: HON'BLE MR JUSTICE HEMANT CHANDANGOUDAR
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NC: 2024:KHC:35599
WP No. 4408 of 2024
ORAL ORDER
The petitioner, who participated in a public auction conducted by the respondent-Bank, is before this Court seeking a directive for the refund of the EMD amount deposited at the time of participation.
2. The EMD amount was forfeited as the petitioner failed to comply with the mandatory provision contained in sub-Rule (3) of Rule 9 of the Security Interest (Enforcement) Rules, 2002.
3. The learned counsel for the parties jointly submit that the EMD amount deposited by the petitioner will be refunded after deducting a sum of Rs.50,000/- towards expenses.
4. This submission is placed on record.
5. Therefore, it is expedient to dispose of the petition by directing the respondent-Bank to refund a sum of Rs.7,30,700/-, after deducting Rs.50,000/-, to the petitioner within fifteen days.
Sd/-
(HEMANT CHANDANGOUDAR) JUDGE BKM