RAJASHEKAR Vs. S Y GANGANALLI

JUDGEMENT

(1.) THIS Contempt petition filed under Sections 11 and 12 of the Contempt of Courts Act is by the petitioner in WP.No.6051/2007 with whom had joined other similar persons in WP.No.8480/2007 C/w W.P.Nos. 16409/2006,4287/2007,9680/2007 & 12786/2006 (GM-RES), which were all disposed of as per the common order dated 19.02.2009.

(2.) PETITIONER is complaining that the accused herein who was the 2nd respondent in the writ petition, namely the General Manager/Authorized Officer, Shri Siddeshwara Co-operative Bank Ltd. Bijapur - 586 101 has disobeyed and disregarded the order passed by this Court in WP.No. 6051/2007, therefore has prayed for initiating suitable contempt proceedings against the accused.

(3.) THE Bank for a good measure roped in the provisions of the Securitization and Reconstruction of the Financial Assets Act 2002 for the recovery. It appears the Bank took possession of the secured assets of the borrower in exercise of the power under Section 13 of the said Act and perhaps would have sold it in public auction but the borrower got alerted and approached this Court for relief in a writ petition.