V.KRISHNASWAMY & ANR. Vs. KARNATAKA RAJYA KAIGARIKA SAHAKARI &ANR.

SECURITISATION AND RECONSTRUCTION OF FINANCIAL ASSETS ANDENFORCEMENT OF SECURITY INTEREST ACT, 2002

Supreme Court of India (Division Bench (DB)- Two Judge)

Appeal (Civil), 2874 - 75 of 2015, Judgment Date: Mar 10, 2015

                                                              NON-REPORTABLE

                    IN THE SUPREME COURT OF INDIA
                    CIVIL APPELLATE JURISDICTION

                CIVIL APPEAL NOS. 2874-75 of 2015
               (Arising out of SLP(C)Nos.18732-18733 OF 2012)


    V. KRISHNASWAMY & ANR.                                 ... APPELLANTS

                                 VS.

    KARNATAKA RAJYA KAIGARIKA SAHAKARI BANK
    NIYAMITA & ORS. ETC.                                  ... RESPONDENTS


                        J U D G M E N T

ANIL R. DAVE, J.


1.    Leave granted.

2.    It has been submitted by the learned counsel for the  appellants  that
the dispute with regard to the amount payable by the appellants  is  pending
before the Joint Registrar of the  Cooperative  Societies  at  Bangalore  in
Case Application No.A(I&M):D-7:1366:2001-2001.   We  direct  that  the  said
case shall be decided by the Additional Registrar  within  six  months  from
the date of intimation of this order to the Additional Registrar.

3.    Till the aforesaid proceedings are completed, no coercive steps  shall
be taken under the provisions of the Securitization  and  Reconstruction  of
Financial Assets and Enforcement of Security Interest  Act,  2002  (SARFAESI
Act), for recovery of the amount.

4.    Interim relief granted by this Court shall cease to operate  when  the
afore-stated case is decided.

5.    In view of the above directions, the  appeals  stand  disposed  of  as
allowed   to   the   above   extent   with   no   order   as    to    costs.

                                                            ..............J.
                                                           [ANIL R. DAVE]

                                                            ..............J.
                                                          [KURIAN JOSEPH]
New Delhi;
10h March, 2015.

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