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Judgment
S.N. Satyanarayana, J.—The petitioner herein is impugning the notice issued u/s 13(2) of Securitisation and Reconstruction of Financial Assets and Enforcement of Security interest Act, 2002, issued by respondent Nos. 1 and 2 contending that the petitioner is purchaser of petition schedule property for valuable consideration from third respondent to whom the fourth respondent has sold it under registered deed of conveyance. The case of the petitioner is that since he is the bonafide purchaser of petition schedule premises for valuable consideration, without knowledge of the alleged security of said property in favour of respondent Nos. 1, and 2, the same cannot be sold under Annexures-"E and IT", notices which are challenged by him. Counsel appearing for respondent Nos. 1 and 2-Karnataka State Financial Corporation would submit that notice issued u/s 13(2) of Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, cannot be challenged in writ jurisdiction as there is alternative remedy available for the petitioner to approach DRAT by filing appropriate application/appeal. Therefore this writ petition is not maintainable, in view of the decision rendered by the Apex Court in the matter of United Bank of India Vs. Satyawati Tondon and Others,
Heard the counsel for petitioner and counsel for respondent Nos. 1 and 2. Perused the aforesaid judgment. In the light of the same, this Court holds that the above petition is not maintainable in view of the ratio laid down by the Apex Court in the matter of United Bank of India Vs. Satyawati Tondon and Others, Hence the same is dismissed, reserving liberty to petitioner to approach DRAT by filing appropriate appeal/application within fifteen days from the date of securing the certified copy of the order. As and when such appeal/application is filed, time spent by the petitioner in this writ petition shall be taken into consideration for condonation of delay in filing the said appeal/application. Thereafter the said appeal/application shall be considered on merits and dispose of the same, in accordance with law, giving sufficient opportunity to him. With the aforesaid observations, writ petition is disposed of, without any order as to costs.