Disposed

V.Muraleedharan v. Dhanlaxmi Bank Ltd.

Kerala HC15 Jun 2022WP(C)/3288/2022

Case brief

AI extract

What is this about?

The High Court of Kerala disposed of a writ petition challenging the declaration of NPA status by a bank. The Court held that the alternative remedy under Section 17 of the Securitisation Act, 2002 was appropriate and granted interim relief while allowing time to approach the Tribunal.

What did the court decide?

Interim order continued for two weeks to enable petitioners to file application under Section 17 of the Securitisation Act.

V.Muraleedharan Vs Dhanlaxmi Bank Ltd. — Arbitration | Kerala HC (2022)

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WIN 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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WP(C) NO. 3288 OF 2022

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PETITIONERS:

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1 V.MURALEEDHARAN AGED 62 YEARS S/O VELAYUDHAN, PROPRIETOR OF M/S MURALI HOTEL, NEAR KSRTC BUS STAND, HARIPAD, ALAPPUZHA-690514, RESIDING AT PANAVELIL PADEETTATHIL, PILAPPUZHA, HARIPAD, ALAPPUZHA690514.

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2 G SUDHARMA AGED 56 YEARS W/O MURALEEDHARAN, RESIDING AT PANAVELIL PADEETTATHIL, PILAPPUZHA, HARIPAD, ALAPPUZHA-690514.

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BY ADVS. SREEDEVI KYLASANATH ACHUTH KYLAS R.MAHESH MENON

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RESPONDENT:

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DHANLAXMI BANK LTD.

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HARIPAD BRANCH, REPRESENTED BY ITS AUTHORIZED OFFICER, ASHOKA TOWERS, NEAR ASHOKA FULES, NH 66, MADHAVA JUNCTION, HARIPAD, ALAPPUZHA-690514.

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OTHER PRESENT:

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SRI. C.K. KARUNAKARAN (SC)

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THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 15.06.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

W.P (C) No.3288/2022

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J U D G M E N T

This writ petition was filed at the time when there was no regular sitting before the Debts Recovery Tribunal, Ernakulam. It is now reported that the Debts Recovery Tribunal, Ernakulam has commenced regular sitting. It is pointed out by learned counsel appearing on either side the petitioners have raised a contention that even the declaration of NPA status is wrong. Considering the nature of the contentions raised, I am of the opinion that it is only appropriate to relegate the petitioner to the alternative remedy available to them under Section 17 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. To enable the petitioners to move such an application the interim order granted by this court will continue for a period of 2 weeks from today. The period during which this writ petition was pending before this court that is from 31-01-2022 till today (15-06-2022) shall be excluded for the purposes of calculating any period of limitation within which the petitioner had to file application under Section 17 of the Securitization Act.

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Writ petition is disposed of.

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Sd/- GOPINATH P. JUDGE

AMG

W.P (C) No.3288/2022

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APPENDIX OF WP(C) 3288/2022

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PETITIONER EXHIBITS

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Exhibit P1	A TRUE COPY OF THE REPRESENTATION SUBMITTED BY THE 1ST PETITIONER TO THE RESPONDENT DATED 23.06.2021.
Exhibit P2	A TRUE COPY OF THE NOTICE ISSUED UNDER SEC 13 (2) BY THE RESPONDENT TO THE PETITIONERS DATED 30.09.2021.
Exhibit P3	A TRUE COPY OF THE SEC 13(12) NOTICE ISSUED BY RESPONDENT TO THE PETITIONERS DATED 09.12.2021.
Exhibit P4	A TRUE COPY OF THE BANK STATEMENT OF PETITIONER'S TERM LOAN A/C NO.2552600001011 DATED 17.01.2022 ISSUED BY RESPONDENT.
Exhibit P5	A TRUE COPY OF THE BANK STATEMENT OF PETITIONER'S TERM LOAN A/C NO.2552600001022 DATED 17.01.2022 ISSUED BY RESPONDENT.
Exhibit P6	A TRUE COPY OF THE BANK STATEMENT OF PETITIONER'S TERM LOAN A/C NO.002552600001036 DATED 17.01.2022 ISSUED BY RESPONDENT.
Exhibit P7	A TRUE COPY OF THE BANK STATEMENT OF PETITIONER'S FITL NO.2557000000016 DATED 17.01.2022 ISSUED BY RESPONDENT.
Exhibit P8	A TRUE COPY OF THE REPRESENTATION SUBMITTED BY THE PETITIONERS TO THE RESPONDENT DATED 27.01.2022.
Exhibit P9	A TRUE COPY OF THE NOTIFICATION NO RBI/2019-20/186 ISSUED RESERVE BANK OF INDIA BEARING DOR NO BP BC 47/21.4.048/2019-20 DATED 27.3.2020.
Exhibit P10	A TRUE COPY OF THE RECEIPT FOR DEPOSIT OF RS 3,50,000/- IN A/C NO 002510100000197 DATED 23..2.2022 IN DHANALAXMI BANK.
Exhibit P11	A TRUE COPY OF THE RECEIPT FOR DEPOSIT OF RE 6,50,000/- IN A/C MP 002555260001036 DATED 23.2.2022 IN DHANALAXMI BANK
Exhibit P12	A TRUE COPY OF THE REPRESENTATION DATED 23.2.2022 SUBMITTED BY THE PETIONERS BEFORE THE RESPONDENT

V.Muraleedharan v. Dhanlaxmi Bank Ltd.

Case brief

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V.Muraleedharan v. Dhanlaxmi Bank Ltd.

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