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KARNATAKA HIGH COURT
SURAJ GOVINDARAJ, J
Canara Bank – Appellant
Versus
The Warehousing Development and Regulatory Authority – Respondent
| Table of Content |
|---|
| 1. case initiation and factual overview (Para 1 , 2) |
| 2. legal arguments supporting petitioner's case (Para 3) |
| 3. hearing of arguments and deliberation over statutory obligations (Para 4 , 5 , 6 , 7) |
| 4. court's directives and conclusions on warehouseman compliance (Para 8 , 9 , 10 , 11 , 12 , 13) |
CAV ORDER
(PER: THE HON'BLE MR. JUSTICE SURAJ GOVINDARAJ)
1. The Petitioner/Canara Bank is before this Court seeking the following reliefs:
“(1) Allow the Bank and its duly authorized agents to verify the pledged goods stored in the warehouse immediately.
(2) Direct the Respondent no.1 to take the control of the warehouse and pledged goods by enforcing their right and duties as per the WDRA Act and Rules.
(3) To preserve the quality and quantity of the pledged stocks and take sufficient and appropriate steps to safeguard the interest of the petitioner bank.
(4) Segregate the pledged goods stored in the warehouse e-NWR wise to identify the goods of each debtor.
(5) Facilitate the Bank in conducting an auction of the pledged goods in accordance with the law and the terms of the loan agreement.”
2. Brief facts of the case are as under:
2.1. The Petitioner Bank claims that it has sanctioned
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