B.V. VIDYANATHA Vs. AUTHORISED OFFICER

JUDGEMENT

(1.) These petitions are filed by the tenants/lessees of Respondent No.3/landlord/borrower, viz. Sri. M.V. Harish Kumar Naidu, seeking to issue a certiorari or direction, declaring the Possession Notices under Section 13(2) of the Sri. B.V. Vidyanatha and another Vs. The Authorised Officer, National Co-operative Bank Ltd. and others. SARFAESI Act, 2002, both dated 26.04.2017 (Annexures-V and W) issued by Respondent No.1- Bank as illegal.

(2.) The Respondent Nos.1 and 2 - The National Co- operative Bank Ltd (hereinafter referred to as the "Financial Institution/Bank", for short) invoked the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter called 'SARFAESI Act,2002',) against the landlord/borrower and issued Possession Notices under Section 13 (2) R/w Rule 9 of the SARFAESI Act, 2002, on 26/04/2017, for recovery of their outstanding loans of Rs.47,75,049/- and Rs.57,47,781/- as given in the Possession Notices under Section 13 (2) R/w Rule 9 of the SARFAESI Act.

(3.) The petitioners tenants herein have challenged the Possession Notices, Annexures V and W, both dated 26.04.2017 for taking over the possession of the Secured Asset in question in which the present petitioners claim their tenancy or lease hold rights in the schedule properties under Sri. B.V. Vidyanatha and another Vs. The Authorised Officer, National Co-operative Bank Ltd. and others. the Lease Deed entered into between themselves and the Respondent No.3, Mr. M.V. Harish Kumar Naidu, on 23/09/2015.