ABDUL RAHIM B.E. S/O. B.R. MOHAMMED IMAM Vs. I.C.I.C.I. BANK LTD., KARTHIK PLAZA, DURGI GUDI, SHIMOGA-577202 REP. BY ITS BRANCH MANAGER, I.C.I.C.I. BANK LIMITED I FLOOR, NEAR HOTEL EAC KUBERA PALACE, STATION ROAD, RAICHUR-584101 REP. BY ITS AUTH

JUDGEMENT

(1.) POSSESSION Notice dated 24.09.2011 published in the newspaper on 3009.2011 is called in question in this writ petition. A direction is also sought against the respondent -Bank to follow the mandatory provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short, 'the Act') for the purpose of realizing the loan amount.

(2.) LEARNED Counsel for the petitioner submits that despite the order dated 31.08.2010 passed by the Debts Recovery Tribunal, Bangalore, holding that the sale notice dated 28.04.2010 and the possession notice dated 23.04.2010 issued by the respondent -Bank were not in conformity with the procedure contemplated under the Act and therefore unsustainable, the bank has proceeded to issue another possession notice dated 24.09.2011 vide Annexure -H without following due process of law. It is the case of the petitioner that he is still in possession of the premises and that there is imminent threat of dispossession as the bank has initiated measures contemplated under Section 13(4) of the Act.

(3.) UPON hearing the learned Counsel for the parties and on consideration of the materials on record, I find that as there is an alternative efficacious remedy provided under Section 17 of the Act, the petitioner has to approach the Debts Recovery Tribunal.