K. VIRUPAKSHA Vs. STATE OF KARNATAKA
SUPREME COURT OF INDIA
STATE OF KARNATAKA
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(2.)The appellants herein were the petitioners in Criminal Petition No.100323/2018 which was dismissed by the
High Court of Karnataka, Dharwad Bench through the
order dated 21.01.2019. The said order was passed by
the High Court while considering the petition filed by the
appellants herein under Section 482 of the Cr.P.C.
seeking that the order dated 20.05.2016 passed by the
Principal Civil Judge & JMFC in PC No. 389/2016
referring the matter for investigation and consequential
registration of FIR in Crime No. 152/2016 by the
Hubballi SubUrban Police Station for the alleged
offences punishable under Sections 511, 109, 34, 120B,
406, 409, 420, 405, 417 and 426 of IPC be quashed. In the said proceedings the appellants herein are arrayed as
Accused Nos. 9 and 11 respectively. The appellants
herein were at the relevant point in time working as the
Deputy General Managers in the Canara Bank (Accused
No.1), Circle Office at Hubbali, Karnataka.
(3.)The brief facts leading to the present situation is that the respondent No.2 herein (hereinafter referred to
as the 'Complainant') had approached the Canara Bank
at Hubballi pursuant to which credit facilities were
sanctioned on 16.03.2009. The total credit facility
sanctioned amounted to Rs.2.68 crores. The property
bearing Survey No. 213/2002 situated at Anchatageri
Village, Hubballi measuring 3 acres 2 Guntas was offered
as security for the said loan and a charge was created.
The said property is hereinafter referred to as the
'Secured Asset'. As per the case of Canara Bank, the
Complainant had not repaid the loan amount and in that
view having committed default, the account of the
Complainant was classified as 'NonPerforming Asset'
('NPA' for short) on 15.01.2013. The Canara Bank thus
having invoked the power under Section 13(2) of The
Securitisation and Reconstruction of Financial Assets
and Enforcement of Securities Interest Act, 2002
('SARFAESI Act' for short) had issued appropriate notices
and ultimately the possession of the secured asset as
contemplated under Section 14 of the SARFAESI Act was
taken on 22.03.2013. The secured asset was thereafter
evaluated and was brought to auction through the public
notice dated 13.10.2013 indicating the date of auction as
15.11.2013. The reserve price of the secured asset was fixed at Rs.2,28,51,000/. Though publication was made,
no bids were received in the auction proposed on
15.11.2013 and since the same was a public holiday declared in the State of Karnataka the auction was
postponed to 04.12.2013. Even on the said date no bids
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