KARNATAKA BANK LTD. Vs. M. SURESH

JUDGEMENT

(1.) There is a delay of 239 days in preferring this appeal.

(2.) There were certain allegations of misconduct against the respondent-employee. A disciplinary proceeding was initiated, which resulted in his dismissal from service. After dismissal from service, he was unable to pay the instalments.

(3.) A proceeding under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 [for short, the Act] was initiated. A summary notice of possession was issued under the sub-section (4) of Section 13 of the Act on November 2, 2010. The bank, thereafter, took possession of the property in question.