The High Court dismissed the writ appeal directing quashing of a sale notice issued under the SARFAESI Act, as the mortgaged property was already sold and no adjudication was required.
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 THE CHIEF JUSTICE MR.S.MANIKUMAR
&
THE HONOURABLE MR. JUSTICE SHAJI P.CHALY
THURSDAY, THE 09TH DAY OF JANUARY 2020 / 19TH POUSHA, 1941
WA.No.875 OF 2017
AGAINST THE JUDGMENT IN WPC 9382/2017 OF HIGH COURT OF KERALA
APPELLANT/PETITIONER:
LANDMARK FURNITURE PALACE NEAR MARKET JUNCTION,PUTHOOR ROAD,KOTTARAKKARA,KOLLAM,REPRESENTED BY ITS PROPRIETOR SHIEK MITHAR.
BY ADVS. SRI.B.S.SWATHY KUMAR SMT.ANITHA RAVINDRAN SMT.T.RESHMA
RESPONDENTS/RESPONDENTS:
1 KERALA GRAMIN BANK, KOTTARAKKARA,PIN-691506,REPRESENTED BY ITS BRANCH MANAGER.
2 THE AUTHORISED OFFICER/CHIEF MANAGER KERALA GRAMIN BANK,MALAPPURAM,PIN-676 505.
R1 & R2 BY SRI.T.R.RAVI, SC, KERALA GRAMIN BANK
THIS WRIT APPEAL HAVING BEEN FINALLY HEARD ON 09.01.2020, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WA.No.875 OF 2017
2
JUDGMENT
S.MANIKUMAR,CJ
Instant writ appeal is filed against the judgment dated 21.3.2017 in W.P.(C) No.9382/2017.
Appellant is a proprietary concern dealing in wooden furniture for the last 5 years. In the year 2010, Kerala Gramin Bank, Kottarakkara, respondent No.1, granted cash credit /over draft facility to the appellant, to the extent of Rs.10 lakhs. Considering the prompt transaction, the respondent No.1 enhanced the maximum amount and now the appellant had availed an overdraft facility of Rs.17,00,000/-. Cash credit facility was sanctioned on the basis of two guarantors, one being the wife of the appellant and other, his mother-in-law. Apart from the guarantors, an extent of 12.6 cents in Re-Sy No.16/4 in Block No.22 of Kottarakkara Village in the name of one of the gurantors is offered as collateral security. Due to some reasons, the appellant defaulted in repayment of the same. Consequently, respondent No.1 initiated proceedings under the
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Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, to recover the amounts and issued Exhibit P2 possession notice dated 4.1.2016 to the appellant under the SARFAESI Act. Hence, the appellant filed W.P.(C) No.8791/2016 and by Exhibit P3 judgment dated 9.3.2016, writ court granted 12 instalments to pay off the amount. Though petitioner paid the first instalment, he could not make any further payment, resulting in issuance of Exhibit P4 sale notice, proposing to sell the mortgaged property for realising an amount of Rs.22,92,272/-. Challenging the same and seeking time for repayment of the amounts, appellant has filed W.P.(C) No.9382 of 2017, but the same was dismissed vide judgment dated 21.3.2017.
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already been sold for an amount of Rs.32,26,000/-.
Placing on record the above submission, nothing survives to be considered in this writ appeal for adjudication. Accordingly, this writ
appeal is dismissed.
Sd/-
S.MANIKUMAR
CHIEF JUSTICE
Sd/-
SHAJI P.CHALY
JUDGE
smv
LANDMARK FURNITURE PALACE
KERALA GRAMIN BANK
S. MANIKUMAR
SHAJI P. CHALY
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
