Petitioner sought to release her property from S.A.2002 proceedings, arguing husband had other assets. Court dismissed petition, holding guarantor cannot compel bank to exhaust other mortgaged properties first.
Petition to release petitioner's property is dismissed; parties allowed to arrange loan settlement.
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 N.NAGARESH WEDNESDAY, THE 20TH DAY OF DECEMBER 2023 / 29TH AGRAHAYANA, 1945
WP(C) NO. 31422 OF 2023
PETITIONER:
BEENA.V.NAIR, AGED 42 YEARS W/O. VINOD.R.NAIR, 124, SURESH BHAVAN, CHERUKODE WARD, ELLUVILA ROAD, VILAPPIL, VILAPPILSALA, THIRUVANANTHAPURAM – 695573
BY ADVS.
BIJU BALAKRISHNAN V.S.RAKHEE K.J.GISHA AJMAL P. YRISHIKA R.
RESPONDENTS:
1 THE AUTHORIZED OFFICER, AXIS BANK LTD, 2ND FLOOR, NIHAL COMPLEX, KARAMANA, THIRUVANANTHAPURAM - 695002
2 THE AXIS BANK LTD, PATTOM BRANCH, 2/2421, CONDOR PLAZA, PATTOM PALACE P.O, THIRUVANANTHAPURAM – 695004
BY ADVS.
P.PAULOCHAN ANTONY MADHU RADHAKRISHNAN SREEJITH K. NELSON JOSEPH M.D.JOSEPH DEEPAK ASHOK KUMAR
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 20.12.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
W.P.(C) No.31422/2023
: 2 :
N. NAGARESH, J.
W.P.(C) No.31422 of 2023
Dated this the 20th day of December, 2023
J U D G M E N T
~ ~ ~ ~ ~ ~ ~ ~ ~
The petitioner is before this Court seeking to
command the respondents to proceed against item No.1 property in Ext.P3 for the purpose of realisation of the loan liability of her husband and to release item No.2 property in Ext.P3 owned and possessed by the petitioner, from the proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.
Nair was doing pharmaceutical business and he availed a Cash Credit facility of ₹1 Crore in the year 2008 from the 2nd respondent-Bank. The petitioner's husband created equitable
W.P.(C) No.31422/2023
: 3 :
mortgage of three items of properties for availing the Cash Credit facility.
W.P.(C) No.31422/2023
: 4 :
against the 6 Cents of land and the residential building therein situated in Re-survey Nos.162/21-1 and 162-19 of Vilappil Village, Neyyattinkara Taluk, Thiruvananthapuram District, contends the petitioner.
and the learned Standing Counsel representing the respondents.
W.P.(C) No.31422/2023
: 5 :
Neyyattinkara Taluk in Thiruvanthapuram District.
The writ petition is therefore dismissed. However, it is made clear that the petitioner may approach the respondents for any arrangement for settling the loan account.
Sd/-
N. NAGARESH, JUDGE
aks/04.01.2024
W.P.(C) No.31422/2023
: 6 :
APPENDIX OF WP(C) 31422/2023
PETITIONER’S EXHIBITS
| Exhibit-P1 | TRUE COPY OF THE IN THE MALAYALA M 01-2012 |
NEWS ANORAM |
ITEM PUBLISHED A DAILY, DT.14- |
|---|---|---|---|
| Exhibit-P2 | TRUE COPY OF THE DEPOSIT OF TITLE ISSUED BY THE 2ND |
RECORD DEED, RESPON |
OF MORTGAGE BY DT.01-09-2008, DENT BANK |
| Exhibit-P3 | TRUE COPY OF THE BY THE 1ST RESPON JUDICIAL MA THIRUVANANTHAPURA |
M.C NO DENT B GISTRA M |
.207/2021 FILED EFORE THE CHIEF TE COURT, |
| Exhibit-P4 | TRUE COPY OF THE ISSUED BY THE ADV THE PETITIONER |
NOTIC OCATE |
E DT.28-09-2023 COMMISSIONER TO |
| Exhibit-P5 | TRUE COPY OF THE 09-2023 SUBMITTE BEFORE THE RESPON |
REPRES D BY DENTS |
ENTATION DT.21- THE PETITIONER |
2 issues framed by the court
Whether the bank can proceed against the petitioner's property without exhausting the husband's other mortgaged properties.
Whether the petitioner has a legal right to insist the bank proceed against other properties first.
1 provisions across 1 enactments
Beena V. Nair
The Authorized Officer, Axis Bank Ltd
The Axis Bank Ltd, Pattom Branch
N. Nagares
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
