A writ petition filed to seek permission to pay a bank loan in instalments and regularize proceedings under the SARFAESI Act was dismissed. The court held no extraordinary circumstances existed as the petitioner failed to comply with a prior interim stay order requiring a specific deposit.
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IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR.JUSTICE C.S.DIAS
FRIDAY, THE 2ND DAY OF JUNE 2023 / 12TH JYAISHTA, 1945
WP(C) NO. 3435 OF 2022
PETITIONER:
SAFEER M. B.,
AGED 48 YEARS,
S/O. MOHAMMED BASHEER S.,
FAIZAL MANZIL, NEAR GIRLS HIGH SCHOOL,
NEDUMANGAD, TRIVANDRUM – 695541.
BY ADVS.C.S.MANILAL
S.NIDHEESH
RESPONDENTS:
1THE FEDERAL BANK LTD.,
LCRD/THIRUVANANTHAPURAM DIVISION,
4TH FLOOR, FEDERAL TOWERS, STATUE,
THIRUVANANTHAPURAM,
REP. BY ITS AUTHORIZED OFFICER – 695001.
2 THE BRANCH MANAGER, FEDERAL BANK LTD., NEDUMANGAD BRANCH, NEDUMANGAD, THIRUVANANTHAPURAM – 695541.BY ADVS.SUNIL SHANKER
KEVIN VARGHESE JACOB
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
02.06.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
W.P.(C)No.3435/2022
-:2:-
Dated this the 2nd day of June,2023
J U D G M E N T
The writ petition is filed to direct the respondents to permit the petitioner to pay off the outstanding loan amount in instalments and regularise the loan account.
W.P.(C)No.3435/2022
-:3:-
on condition that the petitioner deposits an amount of Rs.10,00,000/- on or before 10.05.2023 and to approach the Bank with the proposal for payment of the balance amount.
W.P.(C)No.3435/2022
-:4:-
Security Interest Act, 2002, in writ proceedings under Article 226 of the Constitution of India.
Sd/-
C.S.DIAS,JUDGE
//True copy//
DST/02.06.23
P.A.To Judge
W.P.(C)No.3435/2022
-:5:-
APPENDIX
PETITIONER EXHIBITS
EXHIBIT P1TRUE COPY OF THE NOTICE U/S 13(4) OF THE
SARFAESI ACT ISSUED BY THE RESPONDENTS
DATED 12.01.2022.
EXHIBIT P2TRUE COPY OF THE NOTICE DATED 19.01.2022
FOR PROPOSED SALE OF THE SECURED ASSETS.
EXHIBIT P3TRUE COPY OF THE SALE NOTICE ISSUED BY THE
RESPONDENTS DATED 27.01.2022.
RESPONDENT’S EXHIBITS: NIL
2 issues framed by the court
Whether the writ petition filed to regularize an SARFAESI proceeding should be entertained when the petitioner failed to comply with an interim order.
Whether extra ordinary circumstances exist to interfere with the enforcement proceedings initiated by the bank under the SARFAESI Act.
Colour shows how this judgement treated each authority
South Indian Bank Ltd vs. Naveen Mathew PhilipRelied on¶26
South Indian Bank Ltd vs. Naveen Mathew Philip [2023 LiveLaw (SC) 320]
Safeer M.B.
The Federal Bank Ltd., Nedumangad
C.S. Dias
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court