Disposed

Radhakrishnan Anathakrishnan v. Axis Bank Ltd.

Kerala HC15 Jun 2022OP (DRT)/152/2022

Case brief

AI extract

What is this about?

The Court set aside coercive steps against a bank borrower, directing Authorities to keep them in abeyance for two weeks to allow the petitioner to approach the Debts Recovery Tribunal, Ernakulam for interim orders. The petitioner had already deposited Rs.37 lakhs.

What did the court decide?

Coercive steps against the petitioner shall be kept in abeyance for two weeks to enable approach to the Debts Recovery Tribunal, Ernakulam.

Radhakrishnan Anathakrishnan Vs Axis Bank Ltd. — Banking and Recovery | Kerala HC (2022)

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IN THE HIGH COURT OF KERALA AT ERNAKULAM

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PRESENT

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THE HONOURABLE MR. JUSTICE GOPINATH P.

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WEDNESDAY, THE 15^TH DAY OF JUNE 2022 / 25TH JYAISHTA, 1944

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OP (DRT) NO. 152 OF 2022

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PETITIONER:

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RADHAKRISHNAN ANATHAKRISHNAN AGED 64 YEARS, S/O.P.ANANTHAKRISHNAN, TC 48/37/2, R.K.HOUSE, ANANTHA KRISHNAN ROAD, PARAVANKUNNU, POONTHURA P.O., THIRUVANANTHAPURAM - 695 026, CURRENTLY RESIDING AT NEWZ OLD, 57 KB DARSAN ROAD, ALWARPET, CHENNAI, TAMIL NADU - 600 018.

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BY ADV ARUN CHAND

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RESPONDENTS:

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1 AXIS BANK LTD. HAVING REGISTERED OFFICER AT TRISHUL, OPPOSITE SAMARTHESWAR TEMPLE, NEAR LAW GARDEN, ELLISBRIDGE, AHAMEDABAD, HAVING BRANCH OFFICE AT NIHAL COMPLEX, 2ND FLOOR, KARAMANA MAIN ROAD, KARAMANA, THIRUVANANTHAPURAM - 695 002, REPRESENTED BY ITS AUTHORIZED OFFICER.

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2 THE AREA OPERATIONS MANAGER AXIS BANK LTD. NIHAL COMPLEX, 2ND FLOOR, KARAMANA MAIN ROAD, KARAMANA, THIRUVANANTHAPURAM - 695 002.

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3 THE BRANCH MANAGER AXIS BANK LTD. NIHAL COMPLEX, 2ND FLOOR, KARAMANA MAIN ROAD, KARAMANA, THIRUVANANTHAPURAM - 695 002.

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BY ADV MADHU RADHAKRISHNAN, SC,(K/956/1994) B/O

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THIS ORIGINAL PETITION (DRT) HAVING COME UP FOR ADMISSION ON 15.06.2022, ALONG WITH WP(C).25281/2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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O.P (DRT) No.152/2022 & W.P (C) No.25281/2021 -2-

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IN THE HIGH COURT OF KERALA AT ERNAKULAM

¶17

PRESENT

¶18

THE HONOURABLE MR. JUSTICE GOPINATH P.

¶19

WEDNESDAY, THE 15^TH DAY OF JUNE 2022 / 25TH JYAISHTA, 1944

¶20

WP(C) NO. 25281 OF 2021

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PETITIONER:

¶22

RADHAKRISHNAN ANANTHAKRISHNAN AGED 64 YEARS, S/O.P.ANANTHAKRISHNAN, T.C.48/37/2, R.K.HOUSE, ANANTHA KRISHNA ROAD, PARAVANKUNNU, POONTHGURA P.O., THIRUVANANTHAPURAM-695 026, CURRENTLY RESIDING AT NEWZ OLD, 57 KB DARSAN ROAD, ALWARPET, CHENNAI, TAMIL NADU-600018

¶23

BY ADVS. ARUN CHAND JOSEPH MARY DAS BHARAT VIJAY P. VINAYAK G MENON THAREEQ ANVER K. K.SALMA JENNATH MAJID MUHAMMED K. ANANDU R.

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RESPONDENTS:

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1 AXIS BANK LIMITED HAVING REGISTERED OFFICER AT TRISHUL, OPPOSITE SAMARTHESWAR TEMPLE, NEAR LAW GARDEN, ELLISBRIDGE, AHMEDABAD HAVING BRANCH OFFICE AT NIHAL COMPLEX, 2ND FLOOR, KARAMANA MAIN ROAD, KARAMANA, THIRUVANANTHAPURAM-695 001, REPRESENTED BY ITS AUTHORIZED OFFICER

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2 THE AREA OPERATIONS MANAGER, AXIS BANK LTD, NIHAL COMPLEX, 2ND FLOOR, KARAMANA MAIN ROAD, KARAMANA, THIRUVANANTHAPURAM-695 002

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3 THE BRANCH MANAGER, AXIS BANK LTD, NIHAL COMPLEX, 2ND FLOOR, KARAMANA MAIN ROAD, KARAMANA, THIRUVANANTHAPURAM-695 002

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BY ADV MADHU RADHAKRISHNAN, SC

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THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 15.06.2022, ALONG WITH OP (DRT).152/2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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O.P (DRT) No.152/2022 & W.P (C) No.25281/2021 -3-

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J U D G M E N T

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When these matters are taken up for consideration, it is the submission of the learned counsel for the petitioner that though the petitioner had approached the Debts Recovery Tribunal, Ernakulam with the securitisation application, he was forced to approach this Court as there was no regular sitting at the Debts Recovery Tribunal at Ernakulam. It is now reported that the Debts Recovery Tribunal, Ernakulam has commenced regular sitting.

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Having regard to the above, these petitions will stand disposed of directing that all coercive steps against the petitioner shall be kept in abeyance for a period of two weeks to enable the petitioner to approach the Debts Recovery Tribunal, Ernakulam for appropriate interim orders. While granting this relief, I take note of the fact that pursuant to the interim orders passed in these cases the petitioner has already deposited a sum of Rs.37 lakhs towards the loan liability.

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Sd/-

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GOPINATH P. JUDGE

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AMG

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O.P (DRT) No.152/2022 & W.P (C) No.25281/2021 -4-

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APPENDIX OF WP(C) 25281/2021

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PETITIONER EXHIBITS

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Exhibit	P1 THE TRUE COPY OF THE NOTICE DATED 19.12.2019 ISSUED BY THE THIRD RESPONDENT UNDER SECTION 13(2) OF THE SARFAESI CT, 2002
Exhibit	P2 THE TRUE COPY OF THE ORDER DATED 18.03.2020 IN MC O.478/2020 PASSED BY THE CHIEF JUDICIAL MAGISTRATE COURT, THIRUVANANTHAPURAM
Exhibit	P3 THE TRUE COPY OF THE MEMORANDUM OF ENTRY DATED 16.02.2012 WHICH WAS SUBSTITUTED BY THE FIRST RESPONDENT BEFORE THE COURT BELOW
Exhibit	P4 THE TRUE COPY OF THE PAPER PUBLICATIONS OF DEMAND NOTICE DATED 04.03.2020 SUBMITTED BY THE FIRST RESPONDENT BEFORE THE COURT BELOW IN MC NO.478/2020
Exhibit	P5 THE TRUE COPY OF THE JUDGMENT DATED 22.05.2020 IN WPC NO.10128/2020 PASSED BY THIS HON'BLE COURT
Exhibit	P6 THE TRUE COPY OF THE COMMUNICATION ISSUED BY THE SECOND RESPONDENT BEFORE THE PETITIONER
Exhibit	P7 THE TRUE COPY OF THE NOTICE DATED 03.11.2021 ISSUED BY THE ADVOCATE COMMISSIONER APPOINTED BY THE COURT BELOW IN MC NO.478/2020

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O.P (DRT) No.152/2022 & W.P (C) No.25281/2021 -5-

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APPENDIX OF OP (DRT) 152/2022

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PETITIONER EXHIBITS

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Exhibit P1 THE TRUE COPY OF THE SECUTITIZATION APPLICATION (I.D.NO.1515 OF 2022) FILED BY THE PETITIONER UNDER SECTION 17 OF THE SARFAEASI ACT BEFORE THE DEBTS RECOVERY TRIBUNAL-II, ERNAKULAM.

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Exhibit P2 THE TRUE COPY OF THE INTERLOCUTORY APPLICATION (I.D.NO.1517 OF 2022) FOR STAY OF FURTHER PROCEEDINGS FILED BY THE PETITIONER BEFORE THE DEBTS RECOVERY TRIBUNAL-II, ERNAKULAM.

Radhakrishnan Anathakrishnan v. Axis Bank Ltd.

Case brief

What is this about?

What did the court decide?

Radhakrishnan Anathakrishnan v. Axis Bank Ltd.

Case brief

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