Disposed

The Kerala Plantation v. the South Indian Bank Ltd.

Kerala HC21 Jun 2022WP(C)/7/2022

Case brief

AI extract

What is this about?

A single-paragraph order granting a 2-week respite from coercive steps to allow the petitioner to file a securitization application before the Debts Recovery Tribunal. The court explicitly stated its interim orders do not bind the Tribunal.

What did the court decide?

Coercive steps against the petitioner deferred for two weeks to enable approach to the Debts Recovery Tribunal.

The Kerala Plantation Vs the South Indian Bank Ltd. — Banking and Recovery | Kerala HC (2022)

¶1

IN THE HIGH COURT OF KERALA AT ERNAKULAM

¶2

PRESENT

¶3

THE HONOURABLE MR. JUSTICE GOPINATH P.

¶4

TUESDAY, THE 21^ST DAY OF JUNE 2022 / 31ST JYAISHTA, 1944 WP(C) NO. 7 OF 2022

¶5

PETITIONER:

¶6

THE KERALA PLANTATION DOOR NO. 48/2654 B, SREEVALSAM BUILDING, GROUND FLOOR, RSAC RING ROAD, KANIAMPUZHA, NEAR MOBILITY HUB, VYTTILA, ERNAKULAM 682 019, REPRESENTED BY ITS MANAGING PARTNER.

¶7

BY ADVS. K.JAJU BABU (SR.) BRIJESH MOHAN SACHIN RAMESH T.S.ATHIRA ARAVIND T RAMESH

¶8

RESPONDENTS:

¶9

1 THE SOUTH INDIAN BANK LTD. SIB HOUSE, TB ROAD, MISSION QUARTERS, THRISSUR 680 001, REPRESENTED BY ITS REGIONAL MANAGER, ERNAKULAM 2 THE REGIONAL MANAGER THE SOUTH INDIAN BANK LTD, REGIONAL OFFICE, ERNAKULAM, SIB BUILDING, INFOR PARK ROAD, RAJAGIRI VALLEY P.O, KAKKANAD, KOCHI 682 039 3 THE BRANCH MANAGER THE SOUTH INDIAN BANK LTD, KOLENCHERY BRANCH, JJ ARCADE, KOLENCHERY, ERNAKULAM 682 311 4 THE AUTHORIZED OFFICER THE SOUTH INDIAN BANK LTD, REGIONAL OFFICE, ERNAKULAM, SIB BUILDING, INFO PARK ROAD, RAJAGIRI VALLEY P.O, KAKKANAD, KOCHI 682 039 5 THE REGIONAL OFFICER RESERVE BANK OF INDIA, BAKERY JUNCTION, THIRUVANANTHAPURAM 695 001 BY ADVS. SUNIL SHANKER KEVIN VARGHESE JACOB

¶10

THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 21.06.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

W.P (C) No.7/2022

-2-

J U D G M E N T

When this writ petition is taken up for consideration today it is the submission of the learned counsel for the petitioner that the petitioner has already approached the Debts Recovery Tribunal by filing a securitization application numbered as S.A No.90/2022 and that this writ petition may be closed, permitting the petitioner to pursue its remedies before the Debts Recovery Tribunal.

¶15

Having heard the learned counsel for the petitioner and learned standing counsel for the respondents and considering the fact that interim order dated 21-012022 has been complied with by the petitioners, coercive steps against the petitioner shall be deferred by a period of 2 weeks to enable the petitioners to move the Debts Recovery Tribunal for appropriate reliefs, interim or final. I make it clear that the grant of interim order by this court or any observation contained in this judgment shall not bind the Tribunal in any manner and the Tribunal is free to decide the application filed by the petitioner in accordance with law.

¶16

Sd/- GOPINATH P. JUDGE

AMG

W.P (C) No.7/2022

-3-

APPENDIX OF WP(C) 7/2022

¶21

PETITIONER EXHIBITS

¶22

Exhibit P1	TRUE COPY OF THE COMMUNICATION DATED 26-07-2021 ISSUED BY THE 3RD RESPONDENT TO THE PETITIONER
Exhibit P2	TRUE COPY OF THE GUARANTEE INVOCATION LETTER DATED 28-06-2021 ISSUED BY THE 3RD RESPONDENT
Exhibit P3	TRUE COPY OF THE REPRESENTATION DATED 22-07-2021 SUBMITTED BY THE PETITIONER BEFORE THE 5TH RESPONDENT
Exhibit P4	TRUE COPY OF THE NOTICE VIDE NO. EKM RO REC RCP SAR 083 2021-22 DATED 10-08-2021 ISSUED BY THE 2ND RESPONDENT TO THE PETITIONER.
Exhibit P4A	TRUE COPY OF THE OBJECTION DATED 8-10-2021 SUBMITTED BY THE PETITIONER BEFORE THE 2ND RESPONDENT
Exhibit P5	TRUE COPY OF THE REQUEST DATED 15-06-2021 SUBMITTED BY THE PETITIONER BEFORE THE 3RD RESPONDENT
Exhibit P6	TRUE COPY OF THE REQUEST DATED 6-10-2021 SUBMITTED BY THE PETITIONER BEFORE THE 3RD RESPONDENT
Exhibit P7	TRUE COPY OF THE LETTER DATED EKM RO REC 0038 21:22 DATED 9-11-2021 ISSUED BY THE 2ND RESPONDENT TO THE PETITIONER
Exhibit P8	TRUE COPY OF THE NOTICE DATED 1-1-2022 ISSUED BY THE 2ND RESPONDENT TO THE PETITIONER
Exhibit P10	TRUE COPY OF THE SECURITIZATION APPLICATION NO.2042/2022 FILED BEFORE THE HON'BLE DEBT RECOVERY TRIBUNAL-I, ERNAKULAM.

The Kerala Plantation v. the South Indian Bank Ltd.

Case brief

What is this about?

What did the court decide?

The Kerala Plantation v. the South Indian Bank Ltd.

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Parties & counsel

Coram

Case details

Similar cases

Alikunju P S Vs Authorised Officer

Sanil Muhammed Khani Vs State of Kerala , High Court of Kerala

Haneef Vs State of Kerala

Mary Stenu Vs the Union Bank of India

Rajesh R Shenoy Vs the Authorised Officer

Kiranram M. Vs the Icici Bank Ltd.