Karnataka State Financial Corporation vs M/S Pushpa Fastners (P) Ltd on 13 January, 2011

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Karnataka High Court

Karnataka State Financial Corporation vs M/S Pushpa Fastners (P) Ltd on 13 January, 2011

Equivalent citations: AIR 2012 KARNATAKA 46, 2011 (4) AIR KANT HCR 595, (2012) 1 KANT LJ 325, (2012) 3 BANKCAS 162

Bench: Aravind Kumar

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'ifédya Nagar, Gaﬁag 5812 .23 §_~._ ~ .4
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Aged gbsui '?§?~f}v'}:'e;e;_;~%s.,R'f 3%" Ganésh CG.§0n}g
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Eaégiari €.§a<§'ag,iT;E}ést¥: Gadag.

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' _:sEgf8if"Ejf§:?'3'O E6} "§'r§§:1§ty Layaut,
 j §a%§a'::;j':,::ﬁa§h ':"'-Eagaa §¥~§'ub§1?-58$ G3€%a

   Eéaharuﬁrappa Baéigsz,
'@859. Ramashamzirapgsa. Baﬁigsr,

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£4115 Shri. Revananshiééayya G, %'.;-z3::*aﬁ§
ﬁxged 313521': 84 _'}-'BEES, R533: N0. E} Aga Nagaig
if/C>~Qp€.'€'&EiV€ Eiausing Sgcieiy, 46/5, Nagar Rsad,
?:,£;:'::€-43}; E634,

E531 Shria Fakirappa Hanumanthapga Eiaséikar, > L_ 
S/05 Har1umama_ppa_ Hasiikar, Aged abeut 3_§"}ﬁ"€a,'s--,___  
Genarai Manager, Mfg. ﬁzshpa Fasteners (3%? ''E_,':&._,. "

ER/at Malia Buiiding} Heaith Camp, Eetge=i"é».G§:z..c§.ag.  .4  

£6, Smi. Rekha Patiar; W/0, M'ana§§pa    '
Aged about 32 yeas, R/9' Near Po¥':~3__t 4<C}._ff1§<:€§  
Kanakagiri Gangavathé 'E'aEt1k,_K0pp-£31} ;;'".Z3;§s?t;';:'_C€c; 

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F2./lair: Bazar Roaé, Kanai~;;agi--ré,?»j.»' ; "  AA " 
Gangavaihi Tahsak, Ms: K-oppﬂsi.   " 

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{B32 S:-'m;'nes%:3/:,§<%u'§;a;;ni,V;§&v. far R48.
RA 1 »R-- 12,' R~ 141%? E7 IPe*{:"tir:§1': dismissed,

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€@r:53t§t§,z':1?<;:':vV'*--«.:f;f ingdféa. It is prayed that this E{e:*1'bEe Eiégh;
vQ01;:"":*m'aj,I k§:25<.i§j»gfbe pkzased ':0 1} issue 3. Writ in the r;a'iu:"e

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i£;§;'X}i§§EZEE§ Raies 3 of C.?.C. 13:'; E's»'Eis€;. ?et§t§9n N038/2984 "~£'f§&€
2."-;%1'1.:?:§§:>g:::w':=:.;E; and erﬁer dated 3;.g2m2G0'?" an the .'E.A5§'§0.V, fxésd;

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'  j~-?;xf¢';"EG;;§2G@5% viéa Annexufe-G, gné; {G furéher aﬁoa.-a2' 'ﬁle Said
_ Teﬁpiésatiayzsa 2} Ctranéi $u<:%3 9i':§7s.er :"€§ief"$ ag are desmed fit
 a:::<.*?: necessary 'under ihﬁ ciicumatanﬁrss 91? the case irzciuadizzg

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{£6 0? Bistzréci a_§::.r:£ Sasgwiaziss Judgs, Gadag under S6c%:é;:s:2j;_ 3} {1}

{a}, faa} ané Seciésr: 32 of 8.5262. £63. Tiésreafter §:cs?i§:C=$:$--.T:§?:a%:e

been ésgzigd by tbs Bistrict Sam": 03;. reg3;8'aa€3r1'r:g 't§f;&_p'{*%i*g§_§:{:--'
as P;/E§sce.E§a1:160:;:$ ?eti'£::'0n N0L§_G,-'2£%'G¢'%;«AT§1€ . §jé.zi':i_ ;pt:éii:£'<::1
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Gi$8";?,:Z90=$. Surﬁng the per1d;ef1£*;'a% "'«3f  'égneforéw

the Eistrict Court Ca:332:1§"«a:éC>:':""  ﬁppiiéaiéam an
M43.2QOG6 unﬁer Grd;er'4"3:§§'AV?[u;~é::v  Seekiﬁg fer
attachmeni beforg.  33.44 929: No.54
situated at  praperty belongeé
E0 the :'es;V,§§_1:f'V:§¢c'V"s';%T.;V__, :0 C33 fez' secuyity
amount 95  pragezty ¥::2eim::ge& to the
:*'€spm'zde:j:--':.,    Likewise an 39»€§!9,20Q6 an
  {2} 0'5 S.?;C.Aci: mad WEE": Qrdar

39   came Eta be féksd aéeking ax': srﬁsr sf

A" ? "%émparé;§'§* i:f;;":1;éA<f5t§Z@z: its resiyain r€sp0:1d€:r:€s N033 arid E8
 %{;}H'§%€§~§--§ aiianate GE" Cfﬁafﬁ charge may {ha pmp€:"'£};
 refeweé ii}. Ts $71636  aggiicatieas ebjectiamg
 V:v;€§4::*ie:*""'§*:;@€: fiieé %j; amy gf ihé regpezadentg. The said

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352$ 3:"; Q§,é325£:§G'}" §%*€$psci%"*;.:eE;k {EEE 'aha: grauzigé Elia: Saéé



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ami not S¥.}.§I)=S€Qj}.€§'1ﬂ}-' after Eapsa sf' **::4-we fgsara ané gigs .Qr';~-.f{§2g-2

gmuné ihat when appﬁcatian is filed 'a,::1d<32" Sec*'£%_:."a%_f: 
has to be cansidereé whether gr r1e3tJ,::2r<;1e:" cf MEL?-1E"&C§'iB1'€nE».. 

made unéer Seaman 32(2) is E8 be maéie  0}:._r::::_'--:' 9§;Vﬁ§f*i"-..Aa.§'s.;i.j.:

such scheme of SFLC Aci prav§§§._e$tS3....fCsr Afi§§ng;_ 
application aace 0:135; ané it A_.CEiI113{}A{;..§3V;§é".fii§€3.éﬁ iafe':"R-.,.AAEt_%7s Ehﬁﬁﬁ

"mm aréersﬁ which are q1;esti<3:*1;€::§.'Tr§}} §,h:§'--i;i0fpQ:'a."::;ar: in 'aha

§'£'E3S€§'1E writ petiiianf 

3' Heard;  ;i'§;*f.iV.€E~I'e'3::'1a1'-;_§u..__. "Rj3"h3,n<jangGuda:3 iearned

advecaite 8.~p[§é.8'i"Vi§}~gVvff§1::;';§§i5i:"'C:Vf§}2""§)£;1;_é{§§§Vﬁ. ané Sziﬁrérzesh ';i\:L
Kuﬁqarniy Eﬁéﬁ'-,'€}€"d5:  for respendent No.18.
This Sour: by"'<<;_>;*:f;<%::" ' has dismisssd "aha
petitéan against RTe1s;;":;_§:3 defét 'N031. tcs 12 anﬁ Responders':
.14? ix».H,/£1?Bi. '"N5':i¢€ ':{3 v:Eé7s§ﬁp0:*2d+er":i; I§'<I@,E3 is digpenseﬁ with,

$8165'; __r€;~:;;€;::z1f{i«§;§é::""'E%§§';-£3 had beam placed exparis bﬁfiﬁffﬁ 3:316

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4%, Viv': ..__£5?.';'%':€ senieniéan 95 E€8.§'f'3:€<i adv9€a%:€ S311.

-."E}jE§5.::::3;n%: R{f;Zf:a3fgzd3.r:gsur§;_a;; Earned aiimcate far petitioner

7:1*:a;_$~§;}.£.3;'::€c3;': €m;5'é: cammiited a ssyézg-us srrar in §'§$I'{§§$S§rég



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mgarted :9 Such an inierggzetaiian :ﬁ}f SEFLC. ACE, W§":é<:_i%._'2_ ieada

:0 mischief and Qugh: :0 have accspteé the <J:®:'§§€1?'}'?1:_V5;*"3 ",*%g"5i':.iA;cI*:

aée-*anc€d the Cause: snvésaged 'under SFC A-:55; vH;é 'L- i%2a.é_i:§ﬁ "»

centené that if respondsnts NQES 335 *?.8 ai_j§:§e:3.%§%::§ti3 ﬁhélgéid b

propsriy petitianer Carperatien wQu§5i;_n%§: be $23.3"pasfI":§Gz?s. ?;au

weaver tile memes due ta it f3"'€}ff;--.'?i}"}€ 1"?-vaf-sg><:>1_;1:deV"zf:::sVVVa3.'1d it

zxreuﬁ deprive {ha Carpﬁrjagien"51:". .:§;L§: "-Li§:fgi3.:£':;1éé{t%».*/Lctien cf
:"ec0ve§"§; ef pubiic meney.  appiicaééarz
far 3;€t&Ch.f1'£€Iﬁ;   Stage 0f the
preceedings   ﬁapending upan the
situaiiam av:Vd§ £f  Carperaticn wz:>u}d
be entitled. {<3 u§'.~::€eEV<;  0:" the injunctive rshlef m°
attachmgat ggf  He '<».x.»'gLgEé 3130 caniezad, under
.'Se<:'tv'v*£'§ 1'*«1Av.32 of SERC Act it Weuid Ciathe tbs

Diséz-*xZc:«.T~{j";:;':«.':41{'*z<t§V  jL'&"§Sd§.Ct§G§Z ta zigsué em orﬁaz' af

A "Vvé:';?:a;§:i:*:::'i:m"e:":n*£ ,;g_:%:* 3:}: érzjmkzstiozi anﬁ. finding cf the Ségiréci: dkiége

'ié7"£:.§::.t17E2:'};* 'ta $16 $3.16 pravésiens and 33% usﬁuid £30 centezzd

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a;?§'.€':';'TQ:1 iihage gyaufnés E23 seekg fa? Satiizzg agiée the erder

 <.;§a$se§ 'bf;-= {B5 Bésiréegtt Juégét E33; quaghézzgg €313 game ané

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aﬁewéng the writ petitien and prays far granéémg an efsdez" €31?"

a'a:€':achm€:';."§/in§'u?;Cti{):1..

5' Per Conéra Sriﬁérzesh 1\g'§.§{¥.,iE_I;<ia,i_::j'::v:%.,x :_:::§e.a;:'%£éLi.VVb°'

advacaie appearing far :ra$§a:mée:i: 1'$§;:;L'f;.8:W_ %{5:*'§i%;sV.*~.3;?§:;}&

sigppsrt the order passed by the .§é3'§:r§"C:"Ju&g<:' ;é3;;<:§_ .€:{}1'%:E't{:L3v§}.fig:VV'.

that 0:156 the pravisien. under Se'.;f'€ie:3;§: _31(E}{a.}:(;s§$1}  irivaked
{he fierparaﬁezz cannet  either fer
attachmem or :£:'1}°'u.r2;s?:é<:sn, .SVe:{:§i0%:Qé_:.3 would gr; ':0
Show that ancze. f;v%}.i<§'  {big juriadicfaisn
under ':%'1esev__§v1f:<:s'v.i.Vs{:}L€;",:r%::§_ as SEICIE Names he
cerztends Eh-tat  "zriai Caurt does net suffer
fmm arzgg J;E"4£€ wouéci; aisa Cantend ma:

933.333 CG:.*:1;3c>:"£s;'?.ior1 tie:-34:35 3999:1333 :9 Seciian. 533} ef the Act

C€;~v§"§aC?ﬁ'V€&'fi_VQ:"2.,Kliiiiffgﬁi__iE'ii/Gkﬁ the commcm haw by ggresging mtg

 $53";-*£c$ A<3'i'5i7§'1€1"'€3V2:'€iCf.,£" Z39 Rake E. and :2 er ﬁmier 38 Ruie 5 and

 ._$€@E~<; injué3:€.i;<2:'1V3:" atéachmsniz. in supper: 0?.' his submigsiam

 :{é3.ii:<3é}"2;Tp@:%': the g':,:&§:ne;1.': in ézha case of Karnataka Siam

 ;?;:fa§':g$i:riaZ Imzestmemt and ﬁeveiagmeni C@r§m~at'i@n Egti,

.;:§.;~.s.g;§§. ffzzikarni aszﬁ afkgrs reparma? in gmaggg S€C

S ~u23§§ 8:/1 $31633 gma::1d.s he prays €02' éésmigsaj GE" aha wzéé:



mgg,

agregmerzf :,vz't'§'z. me E3"'mczr:..z:z°::g"Z {fsrpoméiars 21:3"

2/sﬁaere fine §?"z':m2::C§5:§' <:7@rpoz*a:zf<;r2': requ€re,$'~.§i:z_'~._

éndusiriaf concern is mai~:e :'mz:i'éfc§€::i-aé_" r.~

repaymené 0f any Zacm G?" adva;1_cé~«...u':<:L5§'@;"

Seciiera 30 and 'the 5:'/adz,zs§r'iiizf"ar>;2,<g:;e2*:ia f;i'€?s €5~ '

maice such repaymereéé 

prejudice :0 the ;::rsz}i£ri§3rss "cggf V'SeC€:{§ééV§j73
ibis Ac: arid sf Seciia}i'L'V.%:.3 E»} cf  0;"
Prapeﬁg Ac; ,::'g3 2g41.vA§jf*;.Is3é;.;m.3; éjﬁéér of
the Financiaé  v";§é?:.§3raE§y G?"
specia§£yA'««:;uthQﬁ$e:§':   in M53
behaéjﬁ: %gp;;:yi :5  1»s2:;sér:c:L judge wiifzain
£2329 .':%§,z';*z:sd:i':;ti:3n the induszriaf
  92* Q subséaniiai
;;72a?'§'i'Gf; fir {me {pr mare 0f the

foZ§:m::=ing '?"'--.:3ZéQ""..~s,-- :.€z;afm6Zy:

{a}";f?";:f_______g:'z order _f::>r the saie of {he
_§';'§3p$%€gg pfedged, mwfgaged; hypoihecaied G?'
 as 5536 fir2.a2':.ci§§ mrpamtéarz as

secigﬁigfy far 5326 59m: 0?' asﬁyance,' or
ﬁggzakjufar eygfareézag if/2,6 fégbifzéy sf any saarefgn' 0:33

Seatiarz 32. Fmsedzzre sf éistrigt
jzgdga in respgcé: Qf apyzicatéozzs zénﬁer
Sestian 3.1% {E} E2?/?'ze:': ihe s2pp§z'caf:'e:"; is far
5.956 reiiefg _m..e:'z§:'<}:/25:22 in cf<::<:s::§e:~:- {:2} 552153 {6} cf'

3:23} 3855503 5?}; cf secsiégzn. 3?; Zfzae riégirsbi jascfge

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gizaff pass? at: 6:5,? zhieriirzz arder azicécfzing tfhg
39::-azrvfty, or 39 mus}? of fhe pmperéy {;j",;iée:'?._
indzgstréai carzcerrz as waufd on b8i:1§;~~--.Sg3§§'
reaffse in his egiémaze an amguni e»;;%'z,s_§§;<2:g£"5s.:9:% 'M
in 22:32:28 :0 the oa:ZsZan&_i.re§..liczbifiéy" §?*a<3 .
in§z:zs2'::*ic:.:E cancem to'-__ ::'E::e--3 'aFiz$7a'r.u9:§c:f'§-.__A 
Corpmaiian, together' .2,»:2z't}'z ":3'zé' eos:':§5 the";
pmceedéngs taken un':Ze;*secfio'r2._3':§,.'.=wi€h or
mithgai an ad,----€§2ier'izirz""ézr?jz2'z/i<:if§53z/2 :'°és'::2c:Aéé'zing
the fndusiziaé %::>%;?;sf:.e'm 3':ff'Of?:'.: €?fd??.'S§fEE'?"?'iF1§ G?'
rema wing its nzachi 2=1€r"y,. piaréfgvyf '?e9:;g"2:€z:;9 me rat.

6 '§'he...V.3_¥§f.<:>;1"15'EI;_i_::*. '8f:_1_p";i¢rn--_::' f--£739':»':r'E in the case of
S.§{¢I{,E{uEka:'ni _ 'a:m': 'V'::1sC:ﬁ'{:i'E'63fVS"--. c9a7s?:t~w:"'é§'6rred to supra has
cansidereﬁ Vibe pE"t"}'ig'1;1:$;1i<:i:'-ZT§;S!'»Qf'SéCj'£§{)1'1S 29, 31 and 32 and has
held as under: 

 Vv ?h§é2"";*§§I2f«vaf a ........ "made af recozxerfy,

E'§2e?::{fasz{2,.4 *:Eiae grmwers under' Seciiora 33 and

  Seéx;:fi3c:';-":.  ifs. additiarz ta the powe§'° of
re:§E€sa;:.:'0:2;'j..-- 'Sf maneg under the zrazzsfer af
 P?"'0p:3?'"?f§;j_ Act 02" any 933/282" Saw. 2'? is wiffzin the

 éﬁzgcfefiafz <95 SEE? E0 c%2;,{>::;se éhe ﬁsrum wzafer Q

"';;%&'r:::1::u§a:* $575. 92259 ihefe is; & ciefazafi 3'21: me

 V. .._.;.§=a§,;mem' qf Saar; ii 53 far Z929 Carparazfian Ear ﬁecéakv

3.3 fa wézeiher if :5E'za§§ proceed z,:rz.5fer Secﬁésn 29 fa?"

ggfe zgj" SE13 prspgrig ?72.<2.r:'"g5§gea'. :3? ::2?2,e:§'z.::>:' if :'-2-%:45g€E

Gk,



M32'

{take any recaurse m/503:2?' ..E§e::*?f::>.2>*a 32' 9f the .2932.-=._

$53,

27; Secfian 3.? 8f E518 ACE = ,,,,,,,,, .. 

Where SFC Zaicest ?'°8CO?;.€?"S€ Zaéhe p2';;i>é)€éi0%'f;5 

Secéian 3.3 §f the ACE ans? G§€&fﬁ;S az:AA<:gz?%d:;éfj?-féfn  

Ceazrt, ii shaii grdirzazrify see}; ifs ér?;,:f2i»"??C'<E'???.€:?*§Vi?A§f':i: 2."}*'ze'*;
maraseaer pmzxiciea' far by Sec:i.§§}:w«M3;? o;f'€Ef;é"»Z  
which Section is aimgfgd is 36-15 sf fhev-.s3:fr.§ez*s
passed under ;S'»e<:€:°£§r;««_;7i.Z_A    Where SFC
takes rezrsaurse 7:3 Sectigzé  an arder
frsm She COZ€:?75;"&'.'f:'S;'£Ci:§'f 355%: fEi$':..éf;:i;?d(}.?f£if;';3??':€?'EZ" in the
manner" ,3? of the Act;
ifzerefovrfeav    Q pravisiem far
enf9rc.§mé§§,fVcf§é€:i:2Ts;. §':-,,i$ pfémaréig' procedzzezrai in

nature, 3

5 «E3. _ féﬁzeﬁgg provided ''''''  its cfczims,

' '«_ThéL. §"e;,.;2ed3g. undééfgéczion 3} is; mat $219 8636' Gr

 'aé§éfza.s£:z.:5"~f;é*v;v§e(fy avaiiasbie :9 SPCA 3:' 219 Graig an

};:;~:€é:*Z«:i:izis:;%9:c:?."_"?e?,:aVédgj which is conferred upar: SFC,

?";i1€"'4..5:zg..§§$§:2*?2;f§z2e refief in an appficafion wade?

 -<._ '-»$'eCEéa?;zv.3tZEg'E,i is 12:23 a pfczinzi This is cigar fmm the

» :;;'03'r?é:"':§_,f {he £3_;3§3Z$C{Z£iiQ?'§,, fhe na.Ew'€ Qf fke refiejg €528

C{i?'fZ_§E£§3iQ?Z 2:3 maéze inierém Qrﬁesr', the Eimiieﬁ

' '*é?:;quirjg caniempfarzzed ﬁg Seciéan .32;/6_}; ::*F:*e zmizzre

V sf me reééej" 352$? can. be granfed Ci§"?;e5§ £328 meihad agf

€}€8CLéZfi3*?L $2.6 _;:2_ms:*{e€5§z"z?.gs: 5:22:56? S{:*::=i€<:>:'2. 3;}? Q5 féie

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-32-

=.,.r

295,? Act are, €'?:,€2""ef€;:r£, na€1§":.z;é':.g Emi ezteézztic-ﬁg
pmceecfzé/zgs, 3% combz'r:,eé reading <:}'fS8CEiO?"Z .33 _.
Sezciimz 32 sf the .2953 Act éndisaies  i.~
fnvestigaéisn has :52 59 made :52 firzd suit'
and carzditierm an which Joan :,g2'a'é 'g'iE}g'33"'Z?,' by  
"zhe zfndusirizzé cancem and  
en€€:Zed :0 the reéief :ma'erV'§3's3;j:zfant;3.§ o2T:V @=éi§;:%.u;jz?'-5

of the Ereecife. of £229 terms if §;g.zf ee?:2':»snﬁ'--  ' "

9. Having :E--£p;§:5a;sé_ea3V'_>' wéatgzre cf éhe
praceedingg under SecA:;iQ 1n._ 3'  0f"€if§éf Act we
are cf the z;:"e:'.::>":?;:g":§:%€ .Si=A3c€2§9%é;':3§'.A«%*?ef'f.,:«:€  Secfion 32
caﬁsfiiufeg:*r;: '<:Qri§.9.';§7y   speciai pravésianb
It is Q V_rj:z*z0;c:?..a\;e':"'::;ff:__r§c<§'?J*<3§}§'» "  not prezzemj or
excfugzfe  i}.;v3):;§§§3s Sécfian 3;? (2), it has to proceed
2%: ac::{:;3"c1fc:tz:§:e-  '»«::"2'r0cedure prescfibéd in

Seciésn 323%; V
E13-}.Athe:f sa§é;V""C'aSé the issua sxfhéch came up £6:

c@1":s::£_;f£é€:z2§7té<%f;;4..§s§b:€ j.%;he Harfbie ﬁpex Cam': was with regasrﬁ

 $16 'a;:?;r:if::!«1<i;a§§j'..--jiirigﬁiigiéozé within Isshsge jurésﬁictian an

~'.f.(.';-39-}}«::3LvE§:'C2L:§i€}fE..3§%}.d€T 31{E,){a} and {aa} had éte 'Q6 fééeai The

 *--C$~rg;éo:°at€Q:: £1': ihg Said case having scald ihs uni? %e.'iQ:':g§:1g :0

 §;.§":':'~;V..:ie;€'§as.:£;?:e:" ané having Bea": urzabia Ea reaiisa ifs dues;

 * ff;':":'@CV€€§€§ E3 {:36 a peéézésa bafare 'ihs C5333": 9:5 éi" Aéﬁiiienai

{iii};-" i;'é2-"ii. J2_,:&.g€, Bangaéam Q33; iarhich. came ia 'E35 éecrasé

i:§%f"""
B



4%?"

-- 13% W
and. ibis £30522"? cams {G a Larsszéuséezfz. {hat {E36 éfh ,l'%{i.§':/%§"€:.i{}§'E.&.%.
City Civii Judge, Bangaiam had; E10 tewitariaj 
Ema? migcailaneaus petitim'; in 's-'Eaves sf Seciiisn 31.-«  
'E"he Horfbis Apgx Cauréi affirmsé ';:"1"2e:'*é,%?€%..'s.;-"< '€'@:=;£r€
and heiﬁ Carporatiem zsughi; to %:ave i:':§"::E::ﬁ"{e& :g;¢*sa.1:<:Z%: {:§'%v$¢..L
befofe the Dégtrict Judge; B€3.gE£ii,§1'%;:Evithéfi"'§§§1'O§§8
the Enduszriai COE"}C€E"Z1 u-:ai:s..V§9<:g:§§'V; --:§j_;;V %Ee.§s céiévé €326 are 120%

concernsd abaut the territeria-E 2.,ii:'3i7S:fiic:;*;.::£?r:-- }'s£:f;'1.7::5 :10 such piea

  

has hear: ad?vanca;:i"f;::  .£:h€:=:'e$;;;'&15L'e%£$'h.«§_:%i:1' E1: is the power
which can be  to grant an wider
G1? attachm1§fi';tVjv  such pm/V61" can be
exercised 1?s '%:?;V::e"  censidﬁratien far being
anseweredgg »
     the E-£or:'bEe Apex Cour? in "aha {E336
 .A§f§§';'}?e;":'€§ :5 supra Sestian 3'; read 'J;-"'§?:§":
L' "S':2§::i§r1A 3.2  A23': Conaiiiuzaég a csérss by itseifs it is 3
 f_':3{.I"§';...>'}§:ES.'z;é31"2, E: is a ma&€ af ;."5ce::§~::':;:' fez' {:{§Z"§O1"3Jii<)%E'§ is
 dues {mm £§$§aui.4;e'r, éarrazazergfgaaramter. 'E'%:e
 maés by {he Banjbia f3:;§3€fX ﬁieurt in gpazra 9 and

 mzasés as; zzzzaiaérz



"£3'5am,«9, However, {meg SEC z'm;0k"e.=5~j
Seaiiarz 3352}, if has E0 preyceeeiﬁ in o:€$ord;:§?.<fi5_._T'~v.

zgsifh the ff}?"0C€i'dZi?"§? prescribed in SeCi:a_:jZL3;2E'5..V'_*  ;. é 

Para«_E3. The §95'§Mz§z:?: _.'zC;~*s7"' 
séaiuie. ﬂzerefere, {he l2f:?"G ,?g'?1"SZ°v§?.?"Z;'S:}G:,'£-p,>f.}';i€  
9:6": hazze {5} be siricify {;(,'0r:.s;€r§;:eﬁZ--5'. '. .
E5 the 01163 which has beer: p;feséué'::§_V :::":i_:G sé':*'*-:z;' {c€§: }i'v£ ;§1 Dmesh
IVE. Kulkarxzi would $@nte':é§"M«--tha'_f Q;*1é€..._p»<:${§'tMiQn is friiad Llrzder
Sactian 3E{l)(a){aa} §Qrp0ra:i_0§::'~.K&?é_;1;.d .?:otv'E3.é:'ér:t£%:i€& ta seek
either attachmerft ':;{<;3»j:'*{i«..'::;}'i1*2:§3.};b.<:_t_§\»fs:V'  'féiiief by filing 3.21
i_:1£e:r1ocu*:0r}; a§p.1is§é:"§._Qn of C.i_viE Pmcadure. A

reading 3f f::§ €C'{_§GIEVVV3}'§V _

{v:aﬂ}"w_§2;z1d' 3-"éxakﬁ ii: dear thai paws: Gf
thﬁ Cer;:>e:<*a;ti:0;'1_" 3:0 i%;'&ré£§: e »-- S°'§.rx:;1:i0r1 3} is in additicm to :he
pefwer a§z;§§;§.§a?r3§e t<§"é: Vu:3{§§r Section 239 of S.§'.C.&ct and

S e2r:_':ié§:";'Af>:9 3:; ':E§§??,: ﬁ,%§:§ 28837. I: wouié be within the domain 35

 ihe COI;§s0ré;ii:;§f%/i\_ q:€3V'v..Ci*:O0$e its Ferum and ii is in this
  §"~£QI1'b§€ Supreme Cam": in the Case ef
 gﬁgtafe XﬂdEi$t?*i&§ fnvesimgrzt mag Eeveiaymertt
 Ltd, §"€f€§."I'§§ ta S'%2§I'& has Eiéiﬂ that 83186: the
 "'-..A{:i>f:é%:;f§§Hé";gg2:ia;v: exercigag its déscrsiien ta énvaks Sscétiozra 5:11, ii

 éjas £9 greased in ma': d.;?r€c":;i@:: eiélﬁjy". E32 tha £53232? sags E": is

5





 

»wE€§--

fguné $313.: unﬁsr <:iauSé3$ {3} is {6} cs? 37E{§} S@;:"°§e:3ra?:%_®_:f: can

356%: amj; 0? {he remeéies azsaiiabée therﬁunéer' Cérﬁaﬁfaafiszra

uzeuié be eniiiziiieﬁ :9 appéy to €316 Estrict Jud.g§  

iimits, 'made? wh0s€jL;?:ésd1%cE>ie:': the i::§u..str:ia'£& u;f1i_f ;::%f r,jel1"i:;:€:"3:

carfieg an wheie gr' Subsiantiaiiy Qf £:'s:;__ '§L_iS§1'§€S :_:'e_~ Afar gz'af:€:M é§. 

one or mare :"€i:'ef's enumerated i:'2,€:§VaL:se {:1} :0 95:} Ijf Sectian

3}. Tha pmcedure is §E"5,S'{;3f_i'1'C}€C%" 3;l:;1"'i£',E¥éfﬁS€C':iO1'}H3g 33 ia the

manner in wizichy such app%£z§_afLi'QVz§ ote_*..:fi):§§it_§€;n fﬂad by the

Corporatien maﬁa; Sé3g_:§_§0n:=.31:{}:§{a)'(aé}":b§ S.FIC.A<:1; by iha

Cerporatiozz és:0"v.€D71?$*:1'*i<:¥: Ceurt, in the

insiarzt casgé C1{37:*;§::Vrat:i.or:.4§é:._' its -mam pﬁtiiien fiied under

Section 31{1}{a}"{aa}  32 has geught far' faiiawing

reiiefsz

a5" Vféihat  ardar may kéndiy be gassed
 'v'4j§3:=;;§5:;::.itt2?:":g aha geiétéonezr E0 enforce the
A' "f';'ta:é::':'is0:';;»3.§ guarantes and is racsvez' the
"§u:s::and::ng baiancs af Rs,36_J§iS,82§_;'~
{:5 this respendemts with sampauné
§1'E?,€E"€S§Z as 326:" '$36 agraemsni axﬁcziied
 me E"€SpC§I'i§€.i"i'£S'
bi ﬁnd $3.33 an arﬁar fa?" enfawrzjng {he
§.2§a'§£Ei:§.€s 8? 33}; the szgreiéeg 3:533?

§§'L§3..E°&§3'{{}§'°8. 



W"

C} {Emmi Such 0336: .:'e§'Lefs a3 {big E-*§Gz1":}_13:%
Caurt may dean fit; _ V
G} '?%:e petétismer may kinﬁiy bﬁ _;9;E§m,é;E_é5 »_. '

with casts in the inéersst 05 _j%..,:é;*:.1°Vc<~: '_a:r":.c§ T

eg'mi£:y° I A A V _ _ V
8} The Caurt may kir:§:§.i§,»* 

pargonai pI"C>§é;?.§_".'€i:38   2;?" V  

respcmdemts  adjzgéé. {E36  saie

§:'0<:eedr3 ?=:>._'§E':6 E\:»5é.r;A

Urzdier prayer' New  ssught for
attaching persﬁngi  é;1WEI?%ev..r%§$p0r:C1e:3tS ané ta
adjust the saie   in the instant case
under pra}t.gei%""V{a{)A éésughé fer enfarcement 9%"

the personﬁi' .VV_;g5'Lsar'a:<:£{eA §é"  weaver the outstanding
baianse  /J' from the f€SpO1'1&€iT{S xrgiih

   "" "per thé agreament and ':E:&:'eby

 {aa} 0:? £35 gubsecttian {E} <33" Sectien 3.2

 fer ﬁéiie §E§;%}§€'E"°{:§»"; pieﬁgedg mortgaged; hypsthecated or
$5 f:§.na:r1<:§aE Ce?§o.ra:§@r: as pm' the Egan
 9:" §i3af8.1?E."?;€€ agreememiz, F92' rarzfsrcing Eiabéiéty sf
 main resiez' is ssught ms;:;:/: is Substariiéve $2:

  *_:'~:a'€':;:1r'§: arid. the §'€E§€§ srjaémaﬂ in {ha intaﬁecuisry applicaiiarzs



~ E.é'*§~

Seeking prahébimrgr ardérs by way sf aztachmém 0:" injjaz-zjctisrz

is in aié af mam reéiéfi B6538, 'Q};E':9E{%.1?.r§g thaw": Said apgié-éa.:'i':3n

0;: hi {Q %2av@ been ﬂied. 3.333%: wish the main é:it;':":+::  {ﬁe 
g E ?   - _

Digirict CGLEIWS, I am of the <:@rzs:£d§::%*é"d""ix§;e%;a;' i:E*:$j:'»«.i:Vvv%;?vi@11E{$

negate the x.-i'e:"§,r gzuzpose for the :Vj§3'1'i:é:~:'EoC%,:i:'<>g~:g--VVL

appfaication was ﬂied' This c0nc_§us~%:§:§;. is é.,1"V§"'if§/"V_E§é'i-- :;i;:tv'V'§i§j.§;$q:1»3%Gti.:1g
ihes pmposéfzian 'xfy-'E."1€X"a"33..,é1.'1d1r'§"',:"..V_;}'.£'} v <'::':;1;s.€ ;1§ @é;%1 "§V:":::i'z1sé".r§aE
CO3'1€€.E'f} a:1d;'mf its guaranegiojr'  dgefamiter and
Eater ?I:hc:: C0:*por3;i;}Z<;*:::£§."ixrhifchaL  {he jurisﬁiciisrz
under Section  iiﬁbiiitgi againsi them
an& after  the appearance 05
the respondféggﬁ "Q1;  {if the, respondent arié

before ﬁfér.-g during the pneridssncy G? {ﬁe 5§:0rp:gﬁ9é§0.n v..~"e:'€ :0 seek aithar prghibétargr §rder°*~- 0r«.j-aVtjmef:E§§:1€é*2-t."aréazr er §*2.§'§§?1Cf§%'E reééef basad an any éU;bs$qu€':<f:t §a.}*€m--"namei}' when atiempts bj:,r the ?:30z":'§wer or 'i§éé'----g%;;:§rja2:{Q:*°s to €r1<:'ur::ber and/gr aiienates the p:'@pe:'%:y is V_éf::a_:§.,$ "ii-"5§E13:."L}1. camag ':9 {ha Eirzewéeége ef 3:6 Carperatian §é%1»:§_é%e'{E"1x;s::::,:Ed be a ;§i'{:,:a;'££.a:: "2a:"§r;:T<:§§ Wazzid §:I€:'f€3:I'"C€ 33:5 "§(:§G3'"_§GF8;§7§Ci'{T£ ':3 S:-%€§<:. miiésf 5:? f:"§5£l'1€E" {:E;'i?;L&{3§1i"T1€33T§?; G? ér1§:.,im:€ia:*:

'aassesé an sash S§,§bS€°QL§EZ'E§ 92252333, if 23; §}€d&Ef";Z."§«C' £3 éaksﬁ "%3 Q, E )---5 :9 haid mid. i1*:ts:*£G»cz:J:@r"§_; a_§p§£ca%:'ar;2; Qgzghiz is have b::":;:'_:?; féieé. when main pétiiéen £236}? was fiied it 2ve;>'L1Ic§ ':9 {isfgigai 3éf?3:3é %3€:ify' abjact wiﬁ: wh;¥ch the pm:-Fisiazg has bésn §?1Ei£§'$_'f23;2§"}:6§}''''£s('}' '' recmzer €226 manays dues er' 6r:fa:f'::ié: ':i":::f '-«;'I:':3a§:;"£._%_:;§t:<;_ .$§f"'i:E*:{~:

respandems and szzch 3 situatiarz ma}9';r:é':.._E2avc,E;€Aé:1 "p§4&:8é.:m"'V% whezz mam petition was filed vv1V1iVja*:bi§i':§; was seught for. The r'eli§eV§: claimed Weuld always be ﬁr: aid 8,r:dV:%s's§§§;{'a_%:§'§e reiief 3326 it: sauna: "%:2€ heicf »:):j~ :::;»:3:*_';_'<st1*z,:zA{2d§L§'3:aé" appéicaiian invoking égsiiéciures under Ordgr 3% Riﬂe E av:':"<:f 2' a2r%§E é;bIe '$0 the Corperation after filing such i§1i:6r_p:'€€a:ie31 weuid render the 3.-*fer§;' pr?c3svﬁ;si4:;3i' Gfi'=')S€. 9* ' 'T235 _C%3."§»2i.'Z7i:Z '%Vhii%3 iztpterprezing a Siatutza Woajéld bear %:hzé;£,fiég£s:§L'a§jé;:fe 'W38 Suppaséd $9 knew _Ea::v and Esgisiatisjn. é:f;a§2:::e7d £8 a, masanabis @216. Where appﬁcafian <3? 2 3-.. ;}'ua;:§£'a3r:.z3::faz3? and Eegigiazéw gist €2QFfE€S am for '-{ii-':.:1:~;£%c3ezig3.i:§{>:':§ $I1§:'3a"v'G':,E§"S ghguié E35 maﬁa is 856 ifézai $35 V,g:zz'Aa>éfisé<>:":2 :2? both 'the ﬁcts am E'E'28..§€ aggpisksafaia and 3:2 '§éi.i°p€?tua':é3 'aha f}bj€*C'E as? She Ac? :"m;;:»3;%.; be g§'%f€E"E aiffsct iﬁr A gw mgﬁw :"e:a:;<:>1':a}3§€ emd §Z>L§I°p0S§X="€ c<";r';$2'::":_,';ci:i:>r: sf 9:. ;<siai:L::<: has ':6 Tag? :"€$<>ri€d in Such a I'i'§8.I1I3€I' SQ ag %':e see aha: sbgect~«éf--V%:E*:.;é"'A<:I: is fuifiﬁesd which in mm vwuid bread :0--'.4':§u§Vf§«1§'é';§g censiitutienai ebéigaiierég.

Eﬁx A': this junsiuze, it zarguid E}é'v{_"7>f';"'i);_€1"i€§.'l", .'§'~_"CA*'.t3'X7CIT'&{:"€:" judgmsnz sf {he %*I0:'1'bEe St,1p;"ez'r1§és--«'::(.fL'e.:1:,:1'f:v.c:sn._$:£é$?i§;é»,?%é <:be Case of NEW ENEDEA ASSi.}R;§NC«Ei"'§'é'§;§§ANY §L9%*':j»K NUSLE NEEIILLE WADEA AND AN¥g g1:;;E;;{%%%;§%€pm;@ﬁg gggg 3 Sec 2?? [?a.ras S1? V '»:.%:é'g:;;:;2'af cases: as has been ,J%:oi§vc:é7é' _ags;v'3.'?1'e:?e;%r";f§¢fr}'res_--, Secﬁong 4 and 5 of the Act, in E::';r"0_pEn§QE'é,':sEﬁc£y"§*@€.2s»_*-ﬁg: be cerrsméeﬁ Gifferentiy in View of €%ée"";§,§<':§$Vic3V?i;:_ by this Cami, if the Earzdmrd being a ' *Si;aie {i¢§%»ha§:ji"i?:e hiearefng Q? Ariicée 22 Q?" the Cansiiiuiieré Q? §,§%<ﬁEa~ég seqi§Eré'ie7"{ G grave faimegs am r@aser:a$Ee:"aess er: ﬁg :;>_a'§t :§';f{"E:*:é.i_EaE§:1g 3 graaeedmgﬁ E: E5 fa: ii: to ghaw how £23 s"}§e»;éi$ €329 cansiéiuﬁcnaé requézemenig af Aﬁécie E4 31? 'im ﬁgs-rééiiiaztéen m' Enéia. Fm pram: inieggzeéation mt Q%'2§§/ ﬁéie; basséc: pgingépias sf namraé ﬁusféce iwaaza 'ac: be heme in . réiéndy but aisa grmcépies 3? asmiéiagiéenaiésm Emsaéveﬁ ifaezein. Wééh 3 vim; ta reaé ihe mavéséong :3? the A::%_ in 3 prepeg" and effectéve marmarg We 3:19 :3? the apméan '$3: Eéieraé éniergreéaiieré? E? gEaz@?a may gﬁve ﬁse is 3?'; am:~:':2a§;r G? a'$3aJzd%iy whécﬁ mas: be avaidaé. 89 as is enaﬁk 3 sumfésr agar': m E§"§i8§'pE'@i 3 sigma ii': 3 reamaaéie manners me asuﬁ " - 3. 2 S(§.'K;.' Kg} ' *-pzzgss im.vs:_§§.m _:3:9{i§j%.:*TV is p:::<::»v1'd€& unﬁer Section 33 . 'f'_§::ef_;"T?4if€§i in $231"

mass: piece Emeéf is the chair 0?' a ramasaﬁabie Se-gisﬁafew' anther. Se dang the wigs 0?' gurpaséva aa:;"asQIts7a,;{:;wi:§e2'; have ta be resarted to wh%c§'z we:-u§d _._§:§'1e aanstruciian of the Act in such a manr2eA?f_f$5jaVS €<$ 3&9 W' {hat the abject of the Act §u:_ﬁi;;,e¢; wh§b'£"2""i:§.':Vzs,§'%S":.Af§g'ﬁvs=fm.s!dAV' iead the beneficiary under thlg sta£Q:é3r§As':a.%ie--m'e' £ja;.__fz;§1§§§i its constitutéonai obfigaiiens aieéiéirj by t§':§3'_;r:$g'):;;:ﬁ' §n€:ér 'a¥ééT= in ﬁshcka Markezmg Ltd g;:.;,;:;«3-3).

53, The §r:}'iz';3:§_c%n§_«" cz }:"_{h€é _ﬁa.&'~--and the Rﬁes 6:': this aaseg are, thus re<ﬁ§ré%e d' i3o..Vf2ie;':;c)_Er'jiLsvv*§rv'i:;:.z*~>,:; d{rs Ehe Sight ef the action Of the Séatie-a:«:.¢nv§s.g'ge§ ;:n§é'%'Artiste T4 of the Gonst%tuEE'0's€"gf)§ '%s"%d§"a 'évsifé 3 a«'é§v~'; f:;'-gV§ve effezti {harem the d:::zctri:"aé may have ta be taken revcQVL;:s:e. _%3e.f*§§ee {"?}~---S;:.:;_ai3:e "E153 : Gréeniai %m3 §__;e. LE5 is;::.'v§;ji'§"€%££o§:.a§i'-aV§*g§___§:;jgf":@rs;}" gTE3vm;@?fzéis':s ,::5I:;z:§pE:'ee:§' by meg iE:e"Efem'bEe Apex Cazzrt in the case 9?

ér;:d ~_.<>:hers .f€fE:2"?'€d :5; supra that §Q€i-"ET {:3 'V and 5:28 3:315 said pzajger i$ "ta 'ea g%.§;:§r'fj;l~ 1%-ﬁhin ££'§1iC§'E iiim Bistfict ejuéga is grmsiriaé Uﬁdﬁf Sub» is%:C%§;::)::__?§6§ 05 Sestiazi 32: in "%-'"§€W sf the éigcusgiczé made >..h€3~<r?:~i:2. abisave, i am 6:" izhae e:a:":s§&€_:*€& vieaa? ézitaaéi caitzeziéiszi sf iéig Eeazneé munsei :62" {he E'€Sp{}§'1{§€§E§ N318 zfszaf: ;oe:it.:'.{m€:* §v"'"

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Karnataka High Court