In a writ petition regarding recovery proceedings under the SARFAESI Act, the Court granted the petitioner three months' time before the Advocate Commissioner could take possession of the secured asset, allowing time to settle the liability.
Advocate Commissioner to defer taking possession for three months to allow petitioner to settle liability.
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 A.M.SHAFFIQUE
WEDNESDAY, THE 9TH DAY OF NOVEMBER 2016/18TH KARTHIKA, 1938
WP(C).No. 27349 of 2016 (P)
PETITIONER(S):
V. SHAJI, PROPRIETOR, M/S. KAVERI INTERNATIONAL, PUTHANKULAM, PARAVOOR, KOLLAM.
BY ADV. SRI.N.MAHESH.
RESPONDENT(S):
1. THE AUTHORISED OFFICER, STATE BANK OF TRAVANCORE, (ASSOCIATE OF STATE BANK OF INDIA), PAIPPALLY BRANCH, CITY TOWERS, PARIPPALLY, KOLLAM.
2. THE MANAGER, STATE BANK OF TRAVANCORE, PARIPPALLY BRANCH, CITY TOWERS, PARIPPALLY, KOLLAM.
BY ADV. SRI.R.S.KALKURA, SC.
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 09-11-2016, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
rs.
WP(C).No. 27349 of 2016 (P)
APPENDIX
PETITIONER'S EXHIBITS:-
RESPONDENT'S EXHIBITS:-
//TRUE COPY//
P.S. TO JUDGE
rs.
**A.M.SHAFFIQUE, J * * * * * * * * * * * *** W.P.C.No.27349 fo 2016
Dated this the 9th day of November 2016
J U D G M E N T
Petitioner has approached this Court when proceedings had been taken by the respondent Bank under Section 14 of the SARFAESI Act, by which an Advocate Commissioner has been appointed to take possession of the secured asset.
W.P.C.No.27349/2016
2
compliance of the directions issued. Therefore, in terms with the direction issued by this Court, the Bank has proceeded further to recover the entire amount. Presently, the total overdue amount will come to Rs.1.68 Crores.
Accordingly, this writ petition is disposed of as under:
(i) The Advocate Commissioner shall defer taking possession of the secured asset for a period of three months from today.
W.P.C.No.27349/2016
3
(ii) In the meantime, it shall be open for the petitioner to settle the entire liability or make alternative arrangements.
(iii) If the settlement has not been arrived at or the payment is not effected, it shall be open for the Advocate Commissioner to take possession of the secured asset and the Bank shall be entitled to proceed further, in accordance with law.
(sd/-)
(A.M.SHAFFIQUE, JUDGE)
jsr
2 issues framed by the court
Whether to grant time to the petitioner after rules SARFAESI proceeded and appointment of Advocate Commissioner.
Whether to defer the taking of possession of the secured asset by the Advocate Commissioner.
V SHAJI, PROPRIETOR, M/S. KAVERI INTERNATIONAL
AUTHORISED OFFICER, STATE BANK OF TRAVANCORE
MANAGER, STATE BANK OF TRAVANCORE, PARIPPALLY BRANCH
A.M.SHAFFIQUE
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
