L. SOMANNA Vs. DEPUTY COMMISSIONER & DISTRICT MAGISTRATE, TAHASILDAR AND DEWAN HOUSING FINANCE CORPORATION LTD.

JUDGEMENT

(1.) PETITIONER has sought for quashing the order of the 1st respondent as per Annexure -B dated 16/17.07.2012. He has also sought for direction to the respondent to handover possession of the schedule property back to the petitioner. The record reveals that the petitioner had borrowed the loan of Rs. 15,32,150/ - for construction of the house in the year 2009 agreeing to repay monthly installments of Rs. 19,397/ - within a period of 15 years. The property bearing Site No. 168, measuring 40' x 60' situated at Nadanahali Village, Lalitadripura, Varuna Hobli, Mysore Taluk, was mortgaged for the purpose of obtaining the loan. However, loan was not repaid after March, 2012. Thus, the proceedings were initiated against the petitioner under the Section 13(2) and 13(4) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short 'SARFAESI ACT'). Inspite of the same, the petitioner has not repaid the loan amount as required. Having no other go, an application came to be filed by the 3rd respondent bank before the 1st respondent -District Magistrate to take possession of the property under Section 14 of the Act. Accordingly, the order came to be passed under Section 14 of the Act by the District Magistrate, Mysore for taking possession of the property.

(2.) THIS Court does not find any error in the impugned order in as much as the order passed under Section 14 is only consequential to the proceedings under Section 13 of the SARFAESI Act. The orders passed under section 13 of SARFAESI Act are attained finality. It seems possession is also taken by the 1st respondent pursuant to the impugned order. Hence, no interference is called for. Writ petition fails and it is accordingly dismissed. It is for the petitioner to approach the 3rd respondent to get the matter amicably settled, if he so chooses.