High Court for State of TelanganaWP/38149/2018dismissed

Yerram Venkata Ramana v. The Authorized Officer,

2018-10-25V Ramasubramanian,J. Uma Devi3 pages

IN THE HIGH COURT OF JUDICATURE AT HYDERABAD

FOR THE STATE OF TELANGANA AND THE STATE OF ANDHRA PRADESH THE HON'BLE SRI JUSTICE V.RAMASUBRAMANIAN and THE HON'BLE MS JUSTICE J. UMA DEVI Writ Petition No.38149 of 2018 Date: 25-10-2018 Between:

Yerram Venkata Ramana, S/o Narasimha Rao, Hindu, aged about 48 years, presently residing at Green Hollow Drive, New Jersey, USA, represented By Special Power of Attorney Holder Sri Kurra Vinod Kumar, S/o Punna Rao, Hindu, aged about 40 years, R/o Door No.7-17-21/7A, 6th lane, Srinagar, Guntur ... Petitioner Vs.

The Authorised Officer, Karur Vysya Bank Limited, Lalapet, Guntur and another .. Respondents For Petitioner : Mr. Raja Reddy Koneti For Respondents : Mr. K. Lakshman, A.S.G. for 2nd respondent

VRS, J & JUD, J W.P.No.38149 of 2018 HON'BLE SRI JUSTICE V. RAMASUBRAMANIAN AND HON'BLE MS. JUSTICE J. UMA DEVI Writ Petition No.38149 of 2018 ORDER: (V. Ramasubramanian, J) The petitioner has come up with the above writ petition, challenging an auction sale notice issued by the Authorised Officer of the 1st respondent-Bank under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short "Securitisation Act, 2002").

2. Heard Mr. Raja Reddy Koneti, learned counsel for the petitioner.

3. The main grievance of the petitioner is that the petitioner stood as guarantor for a loan secured by a company. But, without the knowledge of the petitioner and behind his back, a fresh agreement was entered into between the bank and the borrower, resulting in novation and that therefore, the guarantor, who had no knowledge about such a novation cannot be proceeded against.

4. The aforesaid point merits acceptance not by this Court, but only by the Tribunal. This is an issue, which the Tribunal is competent to decide.

5. Therefore, leaving it open to the petitioner to approach the Debts Recovery Tribunal under Section 17 of the Securitisation Act, 2002, this writ petition is dismissed. There shall be no order as to costs.

VRS, J & JUD, J W.P.No.38149 of 2018 As a sequel thereto, miscellaneous petitions, if any, pending shall stand closed.

________________________ V. RAMASUBRAMANIAN, J _____________ J. UMA DEVI, J Date: 25-10-2018 Issue: C.C. today B.O./Ksn