NAGARAJAIAH Vs. MANAGER VIJAYA BANK

JUDGEMENT

(1.) The present petition is filed with a prayer to quash Annexure-X, which is an order passed by the Debt Recovery Tribunal under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as 'Act' for brevity). The petitioner claims that he has nothing to do with the transactions as between the first respondent-Bank and the respondents 3 and 4. However, it transpires that there are proceedings under the said Act and that he was sought to be dispossessed by virtue of the same.

(2.) The petitioner claims that he is in possession of the suit property under an agreement, which is misleadingly termed as a mortgage, though it is a rent agreement under which he has been in possession even before the purchase of the property by the third respondent. It is on this footing that a prayer is sought to be made to quash Annexure-X insofar as the petitioner is concerned and to restrain the respondents from dispossessing him from the suit property.

(3.) The Counsel for the respondents 1 and 2 on the other hand, would submit that though they are armed with an order passed by the Debt Recovery Tribunal, the petitioner claiming that he is in possession of the property would be dealt with in accordance with law and his possession will not be disturbed otherwise under process of law. Hence, there is no reason to interfere with Annexure-X, which is passed in respect of debt which is created by respondents 3 and 4 and hence, would submit that the petition may be disposed of while recording the submission that the possession of the petitioner will not be disturbed otherwise under due process of law.