G. JAYARAM S/O. LATE GIRIYAPPA AND OTHERS Vs. THE AUTHORISED OFFICER AND CHIEF MANAGER UNION BANK OF INDIA, NODAL, REGIONAL OFFICE, NO. 10/A, CHANDRAKIRAN, KASTURIBA ROAD, BANGALORE - 560001

JUDGEMENT

(1.) IN these writ petitions, petitioners are calling in question the order dated 01.07.2011 passed by the 7th Additional Chief Metropolitan Magistrate, Bangalore, in C. Misc. No. 4109/2011. Petitioners are also challenging the entire proceedings initiated by the respondent -Bank under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short 'the Act').

(2.) ON 07.10.2011, this Court has directed Emergent notice to the respondent. Petitioners were also directed to implead the respective owners/mortgagees as party respondents. Subject to each of the writ petitioner depositing a sum of Rs. 20,000/ -before this Court within two weeks, Interim stay of the operation of the order passed by the Magistrate for a period of four weeks has been granted.

(3.) PETITIONERS have filed a memo for extension of the interim order. Notice issued to the Bank is not served.