JAYARAM HEGDE Vs. AUTHORIZED OFFICER CUM CHIEF MANAGER

JUDGEMENT

(1.) This is an intra court appeal filed by the writ petitioner-appellant against the Judgment and order dated 17.07.2014 passed by learned Single Judge in W.P.51774/2012 whereby the petition has been dismissed on the ground of availability of alternate remedy of approaching the Debt Recovery Appellate Tribunal under Section 18 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short 'Act of 2002').

(2.) The brief facts relevant for the purpose of the case are that: M/s.Anshool Metals Pvt., Ltd., of which the petitioner-appellant is the Chairman cum Managing Director, had taken a loan from the respondent-Canara Bank against which the appellant-petitioner had mortgaged its properties situated in Mumbai in Maharashtra as well as Udupi and Mangaluru, D.K. Districts in the State of Karnataka. For recovery of its dues, the bank had issued notice dated 14.07.2010 for auction of property of the appellant situated in the State of Karnataka. The auction sale was held on 14.08.2010 and thereafter confirmed and a registered sale deed was executed in favour of respondent No.5 on 22.09.2010. Challenging the same appellant-petitioner filed S.A.No.149/2012 under section 17 of the Act of 2002 before the Debt Recovery Tribunal, Karnataka at Bengaluru.

(3.) A preliminary objection was raised by respondent-bank before the Tribunal with regard to jurisdiction of Tribunal at Bengaluru to hear the matter, Tribunal then framed following three points for consideration: