INTERNATIONAL ASSET RECONSTRUCTION COMPANY LIMITED Vs. JHANSIRANI VINODKUMAR

JUDGEMENT

(1.) These two appeals arise out of common judgment and order dtd. 6/2/2024 passed by learned Single Judge in Writ Petition No.26720 of 2023 and Writ Petition No.26996 of 2023. The first mentioned petition is referable to Writ Appeal No.231 of 2024, whereas, the Writ Appeal No.230 of 2024 arises out of Writ Petition No.26996 of 2023.

(2.) The appeals are preferred by the appellant -M/s. International Asset Reconstruction Company Ltd. -original respondent No.1 under Sec. 4 of the Karnataka High Court Act, 1961, seeking to call in question the common judgment and order of learned Single Judge. The writ petitions which were filed by respondent Nos.1 to 13 herein, came to be allowed in terms of the directions issued by learned Single Judge.

(3.) The petitioners were neither the borrowers nor the guarantors. While challenging the aforementioned orders passed by learned Additional Chief Metropolitan Magistrate under Sec. 14 of the SARFAESI Act, it was the case of the original petitioners inter alia that they were the absolute owners and in possession of immovable plots forming part of the Eastern plot bearing No.21-D in the Peenya II Phase Industrial Area in Survey No.34, Bengaluru North Taluk. The petitioners stated that different petitioners owned different plots carved out from the main plot which was purchased by them from respondent - M/s. Electrex (India) Ltd. and from one M/s. Bindu Properties for valuable consideration.