Karnataka High Court
M/S Sri Vinayaka Enterprises vs The Chief Manager Canara Bank on 29 August, 2024
Author: Hemant Chandangoudar
Bench: Hemant Chandangoudar
-1-
NC: 2024:KHC:36495
WP No. 20629 of 2024
IN THE HIGH COURT OF KARNATAKA AT BENGALURU
DATED THIS THE 29TH DAY OF AUGUST, 2024
BEFORE
THE HON'BLE MR JUSTICE HEMANT CHANDANGOUDAR
WRIT PETITION NO. 20629 OF 2024 (GM-RES)
BETWEEN:
1. M/S. SRI. VINAYAKA ENTERPRISES,
REPRESENTED BY PROP:
SRI. MARKONDAIAH,
S/O RAMAKRISHNAPPA,
AGED ABOUT 35 YEARS,
NO.108, NEAR GOVT. SCHOOL,
UPPARAHALLI MUSTOOR,
MULBAGAL TALUK,
KOLAR DISTRICT - 563 132.
2. SMT. MOUNIKA G.,
W/O SRI. MARKONDAIAH,
AGED ABOUT 31 YEARS,
NO.108, NEAR GOVT. SCHOOL,
UPPARAHALLI MUSTOOR,
MULBAGAL TALUK,
KOLAR DISTRICT - 563 132.
...PETITIONERS
Digitally signed by B (BY SRI. GANESHA G., ADVOCATE)
K
MAHENDRAKUMAR
Location: HIGH
AND:
COURT OF
KARNATAKA
1. THE CHIEF MANAGER
CANARA BANK,
DASARAHOSAHALLI BRANCH,
BANGARPET TALUK,
KOLAR DISTRICT - 563 114.
2. M/S. E- PROCUREMENT TECHNOLOGIES
LIMITED - AUCTION TIGER
MR. PRAVEEN KUMAR,
B - 704, WALL STREET II,
OPP. ORIENT CLUB,
NR. GUJARAT COLLEGE,
-2-
NC: 2024:KHC:36495
WP No. 20629 of 2024
ELLIS BRIDGE,
AHMEDABAD,
GUJARAT - 380 006.
...RESPONDENTS
(BY SRI.VIGHNESH S SHETTY, ADVOCATE FOR R1)
THIS W.P. IS FILED UNDER ARTICLES 226 AND 227 OF THE
CONSTITUTION OF INDIA PRAYING TO SET ASIDE THE IMPUGNED
SALE NOTICE DATED 02.07.2024 ISSUED BY THE RESPONDENTS
BANK, WHEREIN FIXED THE (E-AUCTION) SALE DATED 07.08.2024
ISSUED BY THE AUTHORISED OFFICER CANARA BANK
DASARAHOSAHALLI BRANCH, VIDE REF.02/6924/SALE2/
128001116847 WHICH IS AT ANNEXURE - O AND ETC.,
THIS PETITION, COMING ON FOR ORDERS, THIS DAY,
ORDER WAS MADE THEREIN AS UNDER:
CORAM: HON'BLE MR JUSTICE HEMANT CHANDANGOUDAR
ORAL ORDER
The sale notice issued under Rule 8(6) read with Rule 9 of the Security Interest (Enforcement) Rules, 2002 is impugned in this petition.
2. By order dated 05.08.2024, this Court granted an interim order subject to the petitioners depositing a sum of Rs. 7,50,000/- by 06.08.2024, 5:00 p.m., and an additional sum of Rs. 17,50,000/- within three weeks from the date of the order. Consequently, the sale scheduled for 06.08.2024 did not take place. However, the petitioners have failed to deposit the additional amount of Rs. 17,50,000/- in compliance with the interim order dated 05.08.2024.
-3-NC: 2024:KHC:36495 WP No. 20629 of 2024
3. Therefore, the petition stands disposed of, directing the petitioners to approach the Bank seeking closure or regularization of the loan account, if permissible in law.
4. It is needless to state that if such a proposal is submitted, the respondent-Bank shall consider it in accordance with the law.
Sd/-
(HEMANT CHANDANGOUDAR) JUDGE RKA List No.: 1 Sl No.: 68