Ramachandra Rao M.K. vs Pnb Housing Finance Ltd,. on 25 June, 2012

[Cites 1, Cited by 1]

Karnataka High Court

Ramachandra Rao M.K. vs Pnb Housing Finance Ltd,. on 25 June, 2012

Bench: Subhash B. Adi

                            1


 IN THE HIGH COURT OF KARNATAKA AT BANGALORE

         DATED THIS THE 25TH DAY OF JUNE, 2012

                         BEFORE

       THE HON'BLE MR.JUSTICE SUBHASH B. ADI

            CRIMINAL PETITION NO:2919/2009

BETWEEN:

RAMACHANDRA RAO M.K.
S/O KRISHNA MURTHY RAO
AGED ABOUT 46 YEARS,
R/A NO.1270, 3RD CROSS, 3RD STAGE,
BEML LAYOUT, RAJARAJESHWARI NAGARA,
BANGALORE-560 098
                             ...PETITIONER

(BY SRI. S. CHANDRASHEKARAIAH, ADV.,)

AND:

PNB HOUSING FINANCE LTD,.
NO.690, 30TH CROSS,
16TH MAIN, 4TH T BLOCK,
JAYANAGAR, BANGALORE-560 041
REP BY ITS VICE PRESIDENT
SRI.R.GOVINDASWAMY
                           ...RESPONDENT

(BY SRI Y.V. PARTHASARATHY, ADV.,)

     THIS CRIMINAL PETITION IS FILED UNDER SECTION 482
CR.P.C. PRAYING TO SET ASIDE THE ORDER PASSED BY THE
CMM BANGALORE IN C.MISC.NO.959/2008 DATED 12.6.2009.

     THIS CRIMINAL PETITION COMING ON FOR ADMISSION
THIS DAY, THE COURT MADE THE FOLLOWING:
                                    2

                                 ORDER

In this petition, the petitioner has sought for quashing of the proceedings in C.Misc.No.959/2008 and the order dated 12.06.2009.

2. C.Misc.No.959/2008 is filed by the Finance Corporation under Section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short 'the Act'), interalia for delivery of possession of property mortgaged.

3. At this stage, the learned counsel for the petitioner submits that the petitioner is interested in settlement of the dispute. However, he offered only Rs.15,00,000/-, whereas learned counsel appearing for the complainant-respondent herein submitted that, principle amount itself is Rs.18,00,000/- and the total loan amount is Rs.27,00,000/- and further submitted that, if the petitioner is aggrieved by the order under the Act, he may approach Debt Recovery Tribunal (DRT). He also submitted that the complainant- company will not precipitate the matter for 15 days, if petitioner wants to approach Debt Recovery Tribunal (DRT) and settle the matter.

4. Learned counsel for the petitioner submits that if 15 days time is given, he will approach the Debt Recovery Tribunal (DRT).

Accordingly, the petition is dismissed. Petitioner is at liberty to approach Debt Recovery Tribunal (DRT) and seek appropriate relief. However, for 15 days the respondent shall not precipitate the matter.

Sd/-

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