The High Court of Kerala disposed of an appeal regarding banking proceedings initiated under the Securitization Act, ordering the appellant to approach the Debt Recovery Tribunal.
Direction to the appellant/applicant to approach the Debt Recovery Tribunal and pray for appropriate relief.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT :
THE HON'BLE THE ACTING CHIEF JUSTICE MR.J.B.KOSHY & THE HONOURABLE MR. JUSTICE V.GIRI TUESDAY, THE 17TH FEBRUARY 2009 / 28TH MAGHA 1930
WA.No. 354 of 2009()
-------------------AGAINST THE JUDGEMENT/ORDER IN WPC.32427/2008 Dated 07/11/2008
APPELLANT/PETITIONER:
------------------------
M/S.NEELIMA TOURS AND TRAVELS, REP. BY ITS PARTNER PREETHI MATHEW, D/O.GRACY MATHEW, AGED 33 YEARS, CHEMBIL COMPLEX, MUPPALAM, ALAPPUZHA.
BY MR.BIJU ABRAHAM, ADVOCATE
RESPONDENT/RESPONDENT:
-------------------------
UNION BANK OF INDIA, ALAPPUZHA BRANCH, REP. BY THE AUTHORIZED OFFICER, ALAPPUZHA.
BY MR.ASP.KURUP, SC
THIS WRIT APPEAL HAVING COME UP FOR ADMISSION ON 17/02/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
J.B.KOSHY, Ag.C.J & V.GIRI, J.
W.A.NO.354 OF 2009 ()
Dated this the 17th day of February, 2009
J U D G M E N T
KOSHY,Ag.CJ.
When disciplinary proceedings were taken against the appellant/petitioner by the bank under Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, appellant/petitioner approached this Court. The learned Single Judge directed the petitioner that if he deposits1 /3rd of the entire outstandings on or before 29.11.2008 and balance amount on or before 31.12.2008, recovery action shall be stopped. It is also stated that appellant/petitioner is precluded from challenging the impugned proceedings before any authorities including the Debt Recovery Tribunal. When action is taken under the Securitization Act, appellant/petitioner has got a right to file application under the Secuiritization Act and that statutory
WA.354/09
2
right cannot be taken away. Therefore, we make it clear that it is for the appellant/petitioner to approach the Debt Recovery Tribunal and pray for an appropriate relief. With the above direction, this appeal is disposed of.
J.B.KOSHY ACTING CHIEF JUSTICE
V.GIRI JUDGE
prp
J.B.KOSHY & THOMAS P. JOSEPH, JJ.
M.F.A.NO. OF 2006 ()
J U D G M E N T
6th November, 2008
1 issue framed by the court
Whether the direction to approach the Debt Recovery Tribunal precludes the petitioner from challenging the impugned proceedings here.
1 provisions across 1 enactments
M/S.NEELIMA TOURS AND TRAVELS, REP. BY ITS PARTNER PREETHI MATHEW
UNION BANK OF INDIA, ALAPPUZHA BRANCH
J.B. KOSHY
V. GIRI
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
