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BangaloreThe High Court has fixed the date of March 7 for the hearing on the plea of the mortgagors. Aishwarya Apartment building located in Shivnagar Of Rajajinagar,
Justice M Nagaprasanna, who heard the matter on Friday, declined to pass any interim order. SM Shivanna, who claims to be the co-owner and guarantor of the loan, has filed this petition along with his three children. The building was in news recently Canara BankThe City Magistrate Court took physical possession of the building for some time on Thursday through the court commissioner appointed.
Canara Bank said it had given a loan to transport operator Kushal Mine Links owned by SL Shantha Kumar, in which the Shivnagar property was mortgaged as a guarantee. Since the borrower failed to repay the loan in terms of the loan documents, the account was classified as NPA (Non-Performing Asset) as per RBL guidelines on May 8, 2017, and a demand notice was issued on June 6, 2017. it was done. Section 14 of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act. On November 3, 2018, the Magistrate Court appointed the Court Commissioner and ordered to take physical possession of the property.
Meanwhile, Sivanna filed a petition before the High Court challenging the said order and obtained an interim order subject to deposit of 30% of the due amount. However, an application seeking extension of the interim order was dismissed and subsequently the said writ petition was withdrawn.
Shivanna’s daughter Greeshma also filed a suit and obtained an ex parte temporary injunction. After hearing the bank, the temporary injunction order was set aside by the civil court on November 2, 2022.
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