Karnataka High Court
The Textile Co Operative Bank Ltd vs Smt G S Gowramma on 3 July, 2009
Author: Ravi Malimath
Bench: Ravi Malimath
IN THE HIGH COURT OF KARNATAKA AT BANGALORE. DATED THIS THE 3°" DAY OF JULY, 2009 BEFORE _ THE HON'BLE MR.JUSTICE RAVI MALIMATH WRIT PETITION NO.122'31, OF 2008(GM-DRT) BETWEEN: | 1. THE TEXTILE CO-OPERATIVE BANK LTD BY CHIEF EXECUTIVE OFFICER DEVANGA MARKET, 2°° FLOOR JUMMA MASJID PCAD, BANGALORE + 560: 002 BY ITS CHIEF. EXECUTIVE OFFICER Sri PR. RAMESH E Ss. .. PETITIONER (BY Sri N NAGARAJA & Sri S VIAYAKUMAR, _ARVOCATES), AND : 1. Smt G s GOWRAMMA W/O Sri S GANGE GOPAL ~ AGED ABOUT 55 YEARS "9 SFiS GANTE GOPAL -" §/0 LATE GANTE SHANKARAPPA AGED ABOUT 85 YEARS BOTH RESPONDENT 1 AND 2 RESIDE AT 7
NO.12/1, 13 CROSS oo CUBBONPET, ' BANGALORE - 560002.
3, THE AUTHORISED OFFICER ©.
THE TEXTILE CO-OPERATIVE BANK DEVANGA MARKET =. oe 28° FLOOR, JUMMA MAS JID ROAD :
BANGALORE - 560 002. :
4, THE DEBT RECOVERY TRIBUNAL, DELETTED KARNATAKA, KRUSH] BHVAN:
HUDSON ROAD, BANGALORE. - .
RESPONDENTS (BY Sri CH /ALAPATHY: & SRINIVAS, ADVOCATES FOR Re ) ae THIS weit PETT fICN IS FILED UNDER ARTICLES 226 AND 227 OF. THE CONSTITUTION OF INDIA PRAYING TO QUASH THE ORDER DATED 8.11.2007 PASSED IN ASA 61/2007 ON THE FILE OF THE DEBT RECOVERY TRIBUNAL, BANGALORE (THE FOURTH RESPONDENT) OR OTHER WRIT OR DIRECTIONS on MARKED AS. ANNEXURE- R. | THIS PETITION COMING ON FOR HEARING THIS DAY, THE COURT MADE THE FOLLOWING:-
Y-
ORDER | The 2° respondent herein "Prete 9 Wat. issued under Section 13(4) of the Securitisation and Reconstruction of Financia! Assets ang Enforcement of Security Interest Act, 2002. "This Court by. the order dated 15-12-2006 declined to. "entertain the Writ Petition in view of an aiternat 'ive | remedy available under Section. iv of the: said Act. Consequently, an appeal was. prererred bafore the Debt Recovery Tribunal, Bangaiore. "te Tribunal by the impugned order held that the SS sy available to the petitioner is under the Co-operative Societies Act and no ' proceedings: under the Securitasation Act could be proceeded' with. Aggrieved by the same, the petitioner has preferred this writ Petition.
Ph--
2. Sri N.Nagaraja, learned counsel appearing for the petitioner contends that in an identical matter this. Court by the decision in the case" of V.KRISHNASWAMY = AND ANCTHER Of ve. a THE KARNATAKA RAJYA KAIGARIKA SAHAKARA BANK NIYAMITHA, BY IS SECRETARY AND" ANOTHER reported in ILR 2007 KARNATAKA, 4740 held that proceedings | under: | "the - ~ Securitisation Act is void ab-initio.. "The said matter vias taken up in Writ Appeals and the same: are 'Still pending. Hence, he submitted that ti a the Gecision in the Writ Appeal, this matter may be clubbed "along with the Writ Appeal for os consideratio n.
_ 3. "On the other hand, Sri Chalapathy, learned 7 counsel. appearing for the respondent No.2 submits | SS that. the learned Single Judge has passed the order " 7 following the Judgment in the case of GREATER Ph BOMBAY CO-OP.BANK LTD. vs. UNITED YARN VEX(P) LTD. AND OTHERS reported in (2007) 6 SCC 236. Hence, even if the order of the learned Single sudge is | - not to be followed, the order of the Supreme Court would have to be followed and 'this 'Writ Petition requires to be rejected.
4. The learned counsel for the respondent No.2 further pleaded that in 'terms of Section 18 of the Securitization Act, an appeal is provided to the Appellate "Tribunal, aggrieved by any order that is passed uncler Section 17 of the Securitisation Act. Therefore, the impugned order being an appealable
- order this Court should refrain from entertaining the
- Petition due to existence of an alternative and efficacious remedy.
YA
5. On hearing both the sides, I'am of the considered view that the Petition requires. to be rejected for the following reason:-
The Hon'bie Supreme Court in. the casa of GREATER BOMBAY co- OP, BANK LTD. vs. UNITED YARN TEX(P) LTD. AND OTHERS reported in (2007) 6 SCC 236 held that Co-ope rat ve Societies do not come under the purview of 1993) Act nor can they be brought under the said 1 provisions. In view of the contentions raised and 'the law declared by the Supreme Court, the 'said decision is applicable to the m present case on hand. Hence in view of the Judgment = of . the learned Single judge reported in Vv. #RISHNASWAMY AND ANOTHER vs. THE KARNATAKA RAJYA KAIGARIKA SAHAKARA BANK " NIVQMITHA, BY IS SECRETARY AND ANOTHER reported in ILR 2007 KARNATAKA 4740 and in the b--
case of GREATER BOMBAY CO-OP.BANK LTD.. vs. UNITED YARN TEX(P) LTD. AND OTHERS reported in rejected.
For the aforesaid reason, the writ Petition is rejected. Rule discharged. -- a 'saf= Rsk/-.