CITIBANK Vs. SUDEEP SINGH

JUDGEMENT

(1.) PETITIONER is a banking Company. It is before this Court aggrieved by the orders made by the learned I Additional Chief Metropolitan magistrate, Bangalore, dated 23-9-2003. By the said order, the learned magistrate has referred the petition filed by the petitioner-Bank to the yeshwanthpur Police Station, with a direction to enquire the matter with the respondents by issuing notice to them and submit his report returnable by 12-11-2003.

(2.) BRIEF facts of the case are: it is the case of the petitioner-Bank that they have sanctioned loan facilities to the respondents herein. According to them, the respondents herein have defaulted in paying the amounts due to the petitioner-Bank. To recover the amounts due from the respondents, petitioner-Bank has approached the learned Chief Metropolitan Magistrate, by filing a petition under Section 14 of the Securitisation and Reconstruction of financial Assets and Enforcement of Security Interest Act, 2002 ('act 2002' for short), inter alia requesting him to take possession of secured assets of the respondents for realisation of the debts due to the petitioner-Bank.

(3.) THE learned Chief Metropolitan Magistrate, on receipt of the petition filed by the petitioner-Bank under Section 14 of the Act, 2002, has assigned the petition to the I Additional Chief Metropolitan magistrate Court, Bangalore, for disposal of the petition in accordance with law.