This O.P.(DRT) assailed a notice issued under Section 14 of the SARFAESI Act and sought time to clear the loan. The court found the associated Writ Petition did not survive further consideration and closed it without addressing the stay application.
Petition assailing Section 14 notice closed; plea for eight months time left undecided as W.P. abandoned.
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 DAMA SESHADRI NAIDU
TUESDAY, THE 17TH DAY OF JULY 2018 / 26TH ASHADHA, 1940
OP (DRT).No. 41 of 2017
MC.18/2017 OF THE CHIEF JUDICIAL MAGISTRATE COURT, ERNAKULAM
PETITIONER(S)/RESPONDENTS
1 K.K. PRAVEEN, S/O. KARUNAKARAN, KUDILIL(H), NEAR PONNURUNNY TEMPLE, VYTILA, KOCHIN-682 019.
2 LATHA PRAVEEN, W/O. K.K.PRAVEEN, KUDILIL(H), NEAR PONNURUNNY TEMPLE, VYTILA, KOCHIN-682 019.
BY ADVS.SRI.BABU CHERUKARA SRI.SEVI VARGHESE SMT.ROSAMMA MATHEW SRI.P.A.SALIM SRI.P.ANTO THOMAS SRI.K.K.JAYARAJ (KALLUTHARA) SRI.K.S.GIREESAN SRI.E.V.GEORGE SRI.ARUN SAMUEL
RESPONDENTS/RESPONDENT :
1. AUTHORIZED OFFICER, THE FEDERAL BANK LTD. VYTTILA BRANCH, THAMMANAM ROAD, VYTTILA JUNCTION, ERNAKULAM. PIN-682 019.
2. J.M.FINANCIAL ASSET RECONTRUCTION COMPANY(P)LTD., REGISTERED OFFICE, 7TH FLOOR, CNERGY APASHAH MARATHE MARG, PRABHADEVI, MUMBAI-400 025., REPRESENTED BY IT'S AUTHORIZED OFFICER AND SENIOR VICE PRESIDENT SRI. ASHUTASH ROHATGI.
OP (DRT).No. 41 of 2017
3. MS. MEENA MOHANA, ADVOCATE COMMISSIONER, T.P.SANTHOSHKUMAR & ASSOCIATES, GROUND FLOOR, ANNS APARTMENT, AMULYA STREET, BANERJI ROAD, COCHIN-682 018.
R1 BY ADVS.SRI.REJI GEORGE SRI.BINOY DAVIS R2 BY ADV.SRI.SUNIL SHANKER R3 BY ADV.SRI.T.P.SANTHOSH KUMAR
THIS OP (DEBT RECOVERY TRIBUNAL) HAVING BEEN FINALLY HEARD ON 17-07-2018, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
EL
OP (DRT).No. 41 of 2017 (O)
PETITIONER(S)' EXHIBITS
| EXHIBIT P1 |
TRUE COPY OF THE NOTICE ISSUED BY THE ADVOCATE COMMISSIONER APPOINTED BY THE C.J.M.COURT ERNAKULAM IN M.C. NO.18/2017 DATED 30.3.2017. |
|---|---|
| EXHIBIT P2 |
TRUE COPY OF THE LOAN APPLICATION DATED 31.1.2011 SUBMITTED TO FEDERAL BANK VYTTILA. |
| EXHIBIT P3 |
TRUE COPY OF THE LOAN ENHANCEMENT APPLICATION DATED 7-5-2011 SUBMITTED 1ST PETITIONER. |
| EXHIBIT P4 |
TRUE COPY OF THE LETTER DATED 17.4.2012 ISSUED BY THE FEDERAL BANK. |
| EXHIBIT P5 |
TRUE COPY OF THE NOTICE DATED 16.8.2012 ISSUED BY THE FEDERAL BANK UNDER S.13(2) OF THE SARFAESI ACT. |
| EXHIBIT P6 |
TRUE COPY OF THE REPLY NOTICE DATED 02.11.2012 GIVEN BY THE 1ST PETITIONER AGAINST EXHIBIT P5 NOTICE. |
| EXHIBIT P7 |
TRUE COPY OF THE NOTICE DATED 27.03.2013 ISSUED BY THE FEDERAL BANK TO THE 1ST PETITIONER. |
| EXHIBIT P8 |
TRUE COPY OF THE ORDER I.A.NO.3511 OF 2012 IN S.A.NO.953/2012 OF THE DRT ERNAKULAM DATED 2-1-2013. |
| EXHIBIT P9 |
TRUE COPY OF THE JUDGMENT IN W.P.C.NO.11326/2014 DATED 23-7-2014 OF THE HON'BLE HIGH COURT OF KERALA. |
| EXHIBIT P10 |
TRUE COPY OF THE FINAL ORDER IN S.A.NO.953 OF 2012 OF THE DRT ERNAKULAM DATED 16-2-2015. |
| EXHIBIT P11 |
TRUE COPY OF THE JUDGMENT IN W.P.C.NO.11176/15 DATED 14-10-2015 OF THE HON'BLE HIGH COURT OF KERALA. |
| EXHIBIT P12 |
TRUE COPY OF THE APPEAL MEMORANDUM AIR(SA) NO. 852/2015 WITHOUT ANNEXURE SUBMITTED BEFORE THE DRAT CHENNAI DATED 8-11-2015. |
| EXHIBIT P13 |
TRUE COPY OF THE FINAL ORDER IN O.A.NO.439 OF 2014 OF THE DRT ERNAKULAM DATED 27.11.2015. |
| EXHIBIT P14 |
TRUE COPY OF THE I.A.NO.1644/2016 IN O.A.NO.439/2014 FILED BY THE PETITIONERS BEFORE THE DRT ERNAKULAM DATED 19/07/2016. |
OP (DRT).No. 41 of 2017 (O)
RESPONDENT(S)' EXHIBITS
NIL
TRUE COPY
P.S. TO JUDGE
EL
19.7.2018
DAMA SESHADRI NAIDU, J.
================================
O.P.(DRT) No. 41 of 2017
===================================
Dated this the 17th day of July, 2018
JUDGMENT
The petitioner in this O.P.(DRT) assailed a notice issued by the Advocate Commissioner under Section 14 of the
Securitisation And Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI). The petitioner also sought eight months time to clear the loan. Now, the respondent finance company had the O.A. decreed; it is proceeding further for realisation of the amount, by selling the secured assets. Now, both the learned counsel agreed that the
Writ Petition does not survive any further consideration. I, therefore, close it.
Sd/-
DAMA SESHADRI NAIDU JUDGE
sd
2 issues framed by the court
Validity of the notice issued by the Advocate Commissioner under Section 14 of the SARFAESI Act.
Whether the petitioner should be granted eight months time to clear the loan.
1 provisions across 1 enactments
K.K. PRAVEEN
LATHA PRAVEEN
AUTHORIZED OFFICER, THE FEDERAL BANK LTD. VYTTILA BRANCH
J.M.FINANCIAL ASSET RECONTRUCTION COMPANY(P)LTD.
DAMA SESHADRI NAIDU
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
