IN THE HIGH COURT OF KARNATAKA

DHARWAD BENCH

DATED THIS THE 16^TH DAY OF DECEMBER 2021

BEFORE

THE HON’BLE MR.JUSTICE N.S.SANJAY GOWDA

W.P.No.66993/2009 (GM-RES)

BETWEEN

SARASWATH CO-OP. BANK (SCHEDULE BANK),

SAMADEVI GALLI, BELGAUM,

KARNATAKA BY ITS MANAGER.

...PETITIONER

(BY SRI.SANGRAM S KULKARNI, ADV.)

AND

1 .

EMPLOYEES STATE INSURANCE CORPN.

SUB REGIONAL OFFICE, HUBLI

BY ITS RECOVERY OFFICER,

SARVODAYA CIRCLE, KESAVAPURA,

HUBLI.

2 .

RESERVE BANK OF INDIA

NRUPATHUNGA ROAD, BANGALORE-560 002

BY ITS ASST. GENERAL MANAGER.

….RESPONDENTS

(BY SRI.VINAY S KOUJALAGI, ADV. FOR

SRI.V M SHEELVANT, ADV. FOR R1;

NOTICE TO R2-SERVED)

THIS WRIT PETITION IS FILED UNDER ARTICLES 226 &

227 OF THE CONSTITUTION OF INDIA PRAYING TO QUASH

THE NOTICE DTD. 3/12/2009 ISSUED BY RESERVE BANK OF

INDIA VIDE ANNEXURE-C. 2. QUASH THE IMPUGNED ORDER

PASSED BY THE RECOVERY OFFICER OF ESI CORPORATION

DTD. 30/1/2007 VIDE ANNEXURE-A.

: 2 :

THIS PETITION COMING ON FOR HEARING, THIS DAY,

THE COURT MADE THE FOLLOWING:

ORDER

1.

M/s. BEMCO Jacks & Allied Products Ltd., Belgaum had

obtained a loan from the petitioner-Bank. However, M/s.

BEMCO Jacks