Karnataka High Court
Royal Concorde Education Trust vs Union Bank Of India on 19 July, 2024
Author: S.R.Krishna Kumar
Bench: S.R.Krishna Kumar
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NC: 2024:KHC:28326
WP No. 29286 of 2023
IN THE HIGH COURT OF KARNATAKA AT BENGALURU
DATED THIS THE 19TH DAY OF JULY, 2024
BEFORE
THE HON'BLE MR JUSTICE S.R.KRISHNA KUMAR
WRIT PETITION NO. 29286 OF 2023 (GM-RES)
BETWEEN:
ROYAL CONCORDE EDUCATION TRUST
NO 42, SUDHA MANSION,
1ST CROSS, 7TH MAIN, BANAGIRI HILLS,
BSK 3RD STAGE, BENGALURU - 560 085.
REP BY ITS CHAIRMAN,
L R SHIVARAMEGOWDA
AGED ABOUT 68 YEARS,
S/O LATE PATEL RAMEGOWDA
...PETITIONER
(BY SRI. RAJESWARA P N, ADVOCATE)
AND:
UNION BANK OF INDIA
REP BY ITS CHIEF MANAGER,
ASSET RECOVERY BRANCH,
NO 2/3, RAHA BUILDING, N R ROAD,
BENGALURU - 560 002.
Digitally ...RESPONDENT
signed by (BY SMT. DIVYA PURANDAR, ADVOCATE;
Vandana S
SRI. DHYAN CHINNAPPA, SR. COUNSEL APPEARING FOR
Location:
HIGH COURT SRI. M V SUNDARARAMAN, ADVOCATE
OF FOR PROPOSED RESPONDENT)
KARNATAKA
THIS WP IS FILED UNDER ARTICLES 226 AND 227 OF THE
CONSTITUTION OF INDIA PRAYING TO QUASH THE
ENDORSEMENT/LETTER DATED 22/12/2023, MADE IN
Lr.NO.UBI/ARB-BNG(S)/914/23-24, ISSUED/PASSED BY THE
RESPONDENT, VIDE ANNEXURE-E.
THIS PETITION, COMING ON FOR ORDERS, THIS DAY, THE
COURT MADE THE FOLLOWING:
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NC: 2024:KHC:28326
WP No. 29286 of 2023
ORDER
In this petition, the petitioner seeks quashing of the impugned endorsement at Annexure-E dated 22.12.2023 and for other reliefs.
2. Heard learned counsel for the petitioner and learned counsel for the respondent and perused the material on record.
3. The material on record will indicate that Annexure-A is the One Time Settlement (OTS) proposal issued by the respondent-Bank. The petitioner, respondent-Bank and the proposed respondent jointly submit that the dispute between the parties has been resolved amicably in terms of the OTS proposal at Annexure-A dated 17.07.2023. In this regard, it is submitted that the amounts due to the respondent-Bank in terms of the OTS proposal would be cleared by the petitioner and the proposed respondent on or before 31.08.2024.
4. In view of the aforesaid facts and circumstances and the settlement arrived at between the parties in terms of the OTS proposal, nothing further survives for consideration in the present petition and the same is accordingly disposed of. Liberty is reserved in favour of respondent-Bank to seek revival/restoration of -3- NC: 2024:KHC:28326 WP No. 29286 of 2023 this petition by recalling this order in case of non-compliance of the OTS proposal/scheme by the petitioner and the impleading applicant/proposed respondent.
5. Subject to the aforesaid observations and directions, the petition stands disposed of.
Sd/-
JUDGE BMC List No.: 1 Sl No.: 47