Writ petition challenging SARFAESI proceedings dismissed as infructuous because the secured asset was already sold to a purchaser. Petitioner may approach Debt Recovery Tribunal regarding auction proceedings.
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IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT:
THE HONOURABLE MR. JUSTICE A.K.JAYASANKARAN NAMBIAR
MONDAY, THE 9TH DAY OF OCTOBER 2017/17TH ASWINA, 1939
WP(C).No. 9912 of 2017 (L)
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PETITIONER :
SUBHASH KUMAR T.K., S/O.KUTTAN, AGED 38 YEARS, THERUPARAMBIL HOUSE, MANGAD P.O., PAZHANHI VILA, KUNNAMKULAM, TRICHUR.
BY ADV. SRI.K.PRAVEEN KUMAR
RESPONDENT(S):
1. ICICI HOME FINANCE COMPANY LIMITED, REPRESENTED BY ITS AUTHORISED OFFICER, ICICI BANK TOWERS, BANDRA KURLA COMPLEX, MUMBAI-400 051.
2. ICICI HOME FINANCE COMPANY LIMITED, REPRESENTED BY ZONAL DEBT MANAGER,
M.G.ROAD BRANCH, KOCHI-682 001.
3. ICICI BANK LIMITED, REPRESENTED BY ITS BRANCH MANAGER,
DELMA COMPLEX, OPP. CO-OPERATIVE HOSPITAL, SHORNUR ROAD, TRICHUR, KERALA-680 001.
BY ADV. SRI.P.M.KUNJIMOIDEENKUTTY SRI.LAL K.JOSEPH, SC SRI.A.A.ZIYAD RAHMAN, SC
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 09-10-2017, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
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WP(C).No. 9912 of 2017 (L)
APPENDIX
PETITIONER(S)' EXHIBITS
EXHIBIT P1- TRUE COPY OF THE NOTICE OF SALE DATED 16/08/2016.
EXHIBIT P2- TRUE COPY OF THE LETTER DATED 26/10/2016 ISSUED BY THE 1ST RESPONDENT.
EXHIBIT P3- TRUE COPY OF THE LETTER SENT BY THE PETITIONER TO THE 1ST RESPONDENT DATED 01/03/2017.
RESPONDENT(S)' EXHIBITS
EXHIBIT R1(A)- TRUE COPY OF THE NOTICE DATED 21/06/2013 ISSUED UNDER SECTION 13(2) OF THE SARFAESI ACT. EXHIBIT R1(B)- TRUE COPY OF THE EXTRACT OF PAPER PUBLICATION DATED 22/8/2013 CONTEMPLATED UNDER SECTION 13(2) OF THE ACT PUBLISHED IN BUSINESS STANDARDS. EXHIBIT R1(C)- TRUE COPY OF THE ORDER DATED 01/06/2015 IN CP.NO.3172/2015 ON THE FILES OF CHIEF JUDICIAL MAGISTRATE COURT, THRISSUR APPOINT ADVOCATE COMMISSIONER. EXHIBIT R1(D)- TRUE COPY OF THE NOTICE AS CONTEMPLATED UNDER RULE 8 DATED 16/07/2015 EXHIBIT R1(E)- TRUE COPY OF THE PAPER PUBLICATION DATED 18/07/2015 EVIDENCING THAT DUE COMPLIANCE UNDER RULE 8 OF THE SECURITY INTEREST (ENFORCEMENT) RULES 2002 PUBLISHED IN BUSINESS STANDARDS EXHIBIT R1(E)(1)- TRUE COPY OF THE PAPER PUBLICATION DATED 18/07/2015 EVIDENCING THAT DUE COMPLIANCE UNDER RULE 9 OF THE SECURITY INTEREST (ENFORCEMENT) RULES 2002 IN MANGALAM DAILY. EXHIBIT R1(F)- TRUE COPY OF THE PRE-SALE NOTICE DATED 17/07/2015
EXHIBIT R1(G)- TRUE COPY OF THE SALE NOTICE ISSUED BY THE RESPONDENT BANK DATED 16/8/2016 FIXING THE SALE ON 27/09/2016
2/-
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WP(C).No. 9912 of 2017 (L)
EXHIBIT R1(H)- TRUE COPY OF THE PAPER PUBLICATION DATED 12/08/2016 IN BUSINESS STANDARDS EXHIBIT R1(I)- TRUE COPY OF THE PAPER PUBLICATION DATED 12/08/2016 IN MANGALAM DAILY EXHIBIT R1(J)- TRUE COPY OF THE MINUTES OF AUCTION PROCEEDINGS DATED 27/09/2016. EXHIBIT R1(K)- TRUE COPY OF THE SALE CERTIFICATED DATED 05/10/2016.
/TRUE COPY/
P.A.TO JUDGE
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A.K.JAYASANKARAN NAMBIAR, J.
W.P.(C). No. 9912 of 2017
===================================================== Dated this the 9th day of October, 2017
JUDGMENT
It is submitted by the learned counsel for the respondent bank that, pursuant to the proceedings under the Securitisation and Reconstructions of Financial Assets and Enforcement of Security Interest Act, 2002, hereinafter referred to as the 'SARFAESI Act', the secured asset has already been sold to a purchaser and details of the purchaser will be furnished to the learned counsel for the petitioner. Taking note of the said submission of the learned Standing Counsel for the respondent, the writ petition is dismissed as infructuous, without prejudice to the right of the petitioner to impugn the auction proceedings before the Debt Recovery Tribunal, if so advised.
Sd/- A.K.JAYASANKARAN NAMBIAR JUDGE
das/ 09.10.2017
1 provisions across 1 enactments
Subhash Kumar T.K.
ICICI Home Finance Company Limited
ICICI Bank Limited
A.K. Jayasankaran Nambiar
As recorded by the court registry
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