Sri Raghavendra vs Fed Bank Financial Services Ltd
2024 Latest Caselaw 10416 Kant

Karnataka High Court

Sri Raghavendra vs Fed Bank Financial Services Ltd on 15 April, 2024

Author: M.Nagaprasanna

Bench: M.Nagaprasanna

                                           -1-
                                                    NC: 2024:KHC:15072
                                                  WP No. 10542 of 2024




                   IN THE HIGH COURT OF KARNATAKA AT BENGALURU

                       DATED THIS THE 15TH DAY OF APRIL, 2024

                                       BEFORE
                     THE HON'BLE MR JUSTICE M.NAGAPRASANNA
                     WRIT PETITION NO. 10542 OF 2024 (GM-DRT)
              BETWEEN:

              1.    SRI. RAGHAVENDRA
                    S/O NARAYANASWAMY
                    AGED ABOUT 37 YEARS
                    NO.92, MARENAHALLI
                    VIJAYANAGAR
                    BENGALURU - 560 040.

              2.    SMT. JAYALAKSHMI
                    W/O NARAYANASWAMY
                    AGED ABOUT 55 YEARS
                    NO.92, MARENAHALLI
                    VIJAYANAGAR
                    BENGALURU - 560 040.

Digitally signed
by NAGAVENI 3.      SMT. ANNAPURNA
Location: HIGH      WIFE OF RAGHAVENDRA
COURT OF            AGED ABOUT 32 YEARS
KARNATAKA
                    NO.92, MARENAHALLI
                    VIJAYANAGAR
                    BENGALURU - 560 040.
                                                         ...PETITIONERS
              (BY SRI. BHARATH K., ADVOCATE)

              AND:

              FED BANK FINANCIAL SERVICES LTD.,
              HAVING ITS CORPORATE OFFICE AT
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                                           NC: 2024:KHC:15072
                                       WP No. 10542 of 2024




KANAKIA WALL STREET, 'A' WING
5TH FLOOR, UNIT NO.511 AND 512
ANDHERI, KURLA ROAD, CHAKALA
ANDHERI EAST, MUMBAI - 400 093
CIN: U65910KL1995PLC008910
EMAIL ID: [email protected]
REPRESENTED BY ITS MANAGER
HAVING ITS BRANCH AT
FED BANK FINANCIAL SERVICES LTD.,
NO.4/1, 2ND CROSS ZENITH CHAMBERS
2ND FLOOR, NEXT TO HOTEL A.M.M.RESIDENCY
BEHIND SHELL PETRO BUNK
AREKEMPANAHALLI, WILSON GARDEN
BENGALURU - 560 027.
                                               ...RESPONDENT
(BY SRI. D.NARAYANA SWAMY, ADVOCATE)

     THIS WRIT PETITION IS FILED UNDER ARTICLES 226
AND 227 OF THE CONSTITUTION OF INDIA PRAYING TO
QUASH/SET ASIDE THE IMPUGNED ORDER DTD 28.03.2023
PASSED BY THE HONBLE DEBT RECOVERY TRIBUNAL IN S.A
NO. 339/2022 AS PER ANNEXURE-A.

    THIS WRIT PETITION, COMING ON FOR PRELIMINARY
HEARING, THIS DAY, THE COURT MADE THE FOLLOWING:
                           ORDER

The petitioner is before this Court calling in question an

order dated 28.03.2023, passed by the Debts Recovery

Tribunal in S.A.No.339/2022.

2. Heard Sri Bharath K., learned counsel for petitioners

and Sri D. Narayana Swamy, learned counsel for respondent.

NC: 2024:KHC:15072

3. The petitioners are the borrowers, who have borrowed

from the hands of the respondent - finance and default in

making payment. The bank initiates proceedings under the

provisions of the Securitization and Reconstruction of Financial

Assets and Enforcement of Security Interest Act, 2002. This

results in the disposal of S.A.No.339/2022, on merits.

4. There was an interim order subsisting till the disposal

of the said securitization application. This Court would not act

as an appellate Tribunal to all the orders passed by the Debts

Recovery Tribunal, which has disposed the application on its

merit. Even if the petitioners seek any statutory appreciation

for the payment that they have made, this Court would not

entertain the petition as it would run foul of the judgment of

the Apex Court in the case of CELIR LLP v. BAFNA MOTORS

(MUMBAI) PRIVATE LIMITED reported in 2023 SCC OnLine

SC 1209. The said judgment is further amplified by the Apex

Court in a judgment rendered in the case of PHR Invent

Educational Society Vs. UCO Bank and Others reported in

2024 SCC OnLine SC 528.

NC: 2024:KHC:15072

5. In the light of the said law laid down by the Apex Court

in the afore-quoted judgments, the writ petition does not merit

any entertainment. Therefore, writ petition stands disposed.

Ordered accordingly.

Sd/-

JUDGE

NVJ

CT:SS