In a writ petition under Section 13(2) of the SARFAESI Act, the petitioner defaulter sought a 60-day time limit to clear dues. The High Court granted the request, staying coercive action provided the liability is settled, resuming proceedings only upon default.
Time granted for settlement of liability; coercive action kept in abeyance.
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 HONOURABLE MR.JUSTICE ANTONY DOMINIC
FRIDAY, THE 7TH DAY OF SEPTEMBER 2012/16TH BHADRA 1934
WP(C).No. 18245 of 2012 (E)
PETITIONER(S):
K.S.PRASAD, AGED 47 YEARS AGED 47 YEARS, S/O. SIVARAMAN, KADEKKAL HOUSE PERUMPALLY.P.O, MULANTHURUTHY ERNAKULAM DISTRICT - 682 314.
BY ADV. SRI.VARGHESE P.CHACKO
RESPONDENT(S):
BY ADV. SRI.A.ANTONY
BY ADV. SMT.LEELAMMA ANTONY
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 0709-2012, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
W.P.(C).18245/12
APPENDIX
PETITIONER(S) EXHIBITS
EXHIBIT-P1-TRUE COPY OF THE ISSUED UNDER SECTION 13 (2) OF THE SECURITISATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY INTEREST ACT,2002.
EXHIBIT-P2-TRUE COPY OF THE REPLY/REPRESENTATION DATED 30/07/2012 ISSUED BY THE PETITIONER TO THE RESPONDENT BANK.
EXHIBIT-P3-TRUE COPY OF THE JUDGMENT DATED 24/01/2012 IN W.P(C) 322/2012 PASSED BY THIS HONOURABLE COURT.
EXHIBIT-P4-TRUE COPY OF THE ORDER DATED 16/03/2012 PASSED BY THE GOVERNMENT AGAINST THE APPEAL FILED BY THE PETITIONER.
/true copy/ PA To Judge
ANTONY DOMINIC, J
W.P.(C).18245/2012
Dated this the 7th day of September, 2012
JUDGMENT
Heard the learned counsel for the petitioner and also the learned counsel appearing for the respondent Bank.
Time as sought for by the petitioner will be granted for settlement of the liability and in the meanwhile, coercive action if any, initiated against the petitioner, will be kept in abeyance.
W.P.(C).18245/12
2
Needless to say that default in payment will entitle the Bank to continue the recovery proceedings.
ANTONY DOMINIC, Judge
mrcs
1 issue framed by the court
Whether time should be granted to the defaulter petitioner to settle liability under SARFAESI Act.
1 provisions across 1 enactments
K.S.PRASAD
THE CHIEF MANAGER FEDERAL BANK
ANTONY DOMINIC
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
