LAWS(KAR)-2011-9-81

GAJARAJ S. S/O. J. SURAJMULL AND SRI C.M. KRISHNASHETTY S/O. LATE MADASHETTY Vs. THE ASSISTANT GENERAL MANAGER RETAIL ASSETS SMALL AND MEDIUM ENTERPRISES, CITY CREDIT CENTRE (RASMECCC), STATE BANK OF INDIA AND CLASSIC BRIQUETTING INDUSTRIES, REP

Decided On September 21, 2011
Gajaraj S. S/O. J. Surajmull And Sri C.M. Krishnashetty S/O. Late Madashetty Appellant
V/S
The Assistant General Manager Retail Assets Small And Medium Enterprises, City Credit Centre (Rasmeccc), State Bank Of India And Classic Briquetting Industries, Rep Respondents

JUDGEMENT

(1.) PETITIONERS are calling in question the possession notice dated 06.08.2011 issued by the 1st Respondent -Bank to the provisions under Section 13(4) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short 'the Act') as per Annexure -G. Challenge is also made to the notice dated 24.08.2011 produced at Annexure -H intimating the Petitioners to remove all the machineries unauthorisedly kept in the premises which is the subject matter of mortgage in favour of the Respondent -Bank on or before 28.08.2011.

(2.) PETITIONERS claim to be the sub -lessees under the 2nd Respondent who is the lessee from the KIADB. It is not in dispute that the 2nd Respondent has availed loan mortgaging the property in question in favour of the 1st Respondent -Bank.

(3.) THE borrower has addressed a letter, as can be seen from the document produced along with the statement of objections at Annexure -R7 that the 1st Petitioner had kept three machineries in the premises and that the Bank may inform him to remove the machineries. Accordingly, the bank has issued notice at Annexure -H calling upon the Petitioners to remove the machineries.