Court disposed of writ petition challenging SARESI Act recovery proceedings. Directed respondents to defer coercive action pending payment of ₹15 lakhs within one month followed by balance in 12 instalments.
Coercive proceedings stood deferred contingent upon payment of ₹15 lakhs within one month and the balance in 12 monthly installments.
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
FRIDAY, THE 1ST DAY OF DECEMBER 2023 / 10TH AGRAHAYANA, 1945
WP(C) NO. 7087 OF 2023
PETITIONERS:
1 ABDUL RAHIM.V., AGED 30 YEARS S/O. ALHAJ ABDULLA, VALLIL HOUSE, IRINGATTIRI (P.O), KARUVARAKUNDU, MALAPPURAM- 676523.2 MOHAMMED YASIN.V., AGED 38 YEARS S/O. ALHAJ ABDULLA, VALLIL HOUSE, IRINGATTIRI (P.O), KARUVARAKUNDU, MALAPPURAM - 6765233 UMMERIA, AGED 36 YEARS VALLIL HOUSE, IRINGATTIRI (P.O), KARUVARAKUNDU, MALAPPURAM – 676523BY ADVS.
H.PRAVEEN (KOTTARAKARA)
M.PREMKUMAR
RESPONDENTS:
1STATE BANK OF INDIA,
REPRESENTED BY IT'S CHIEF MANAGER,
RS BUILDING FIRST FLOOR, M.G.ROAD,
OPPOSITE MAHARAJAS COLLEGE GROUND, ERNAKULAM,
KERALA -682011.
2 THE CHIEF MANAGER, ASSET RECOVERY MANAGEMENT BRANCH, STATE BANK OF INDIA, RS BUILDING FIRST FLOOR, MG ROAD, OPPOSITE MAHARAJAS COLLEGE GROUND, ERNAKULAM, KERALA - 6820113 ADDL.R3: MYMOONA VALLIL, VALLIL HOUSE, IRINGATTIRI PO, KARUVARAKUNDU, MALAPURAM DISTRICT - 676 523.WP(C) NO.7087 Of 2023
2
4ADDL.R4: SEREENA VALLIL,
KAPPOOR HOUSE, MUTHIRAMANNA, THAZHEKODE,
MALAPPURAM DISTRICT - 679 357
( ARE IMPLEADED AS PER ORDER DATED 11/04/2023 IN
IA 1/23 IN WP© 7087 of 2023
BY ADVS.
S.AMBILY
H.PRAVEEN (KOTTARAKARA)
NAVANEETH D.PAI
K.K.CHANDRAN PILLAI (SR.)
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR
ADMISSION ON 01.12.2023, THE COURT ON THE SAME DAY
DELIVERED THE FOLLOWING:
3
WP(C) NO.7087 Of 2023
JUDGMENT
Dated this the 1st day of December, 2023
The petitioners have approached this Court aggrieved by the coercive proceedings for recovery of financial advance made by the State Bank of India to the petitioners, invoking the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.
WP(C) NO.7087 Of 2023
petitioners.
time is given to clear the dues in easy monthly installments. If the respondents are permitted to continue with the coercive proceedings and auction the secured assets provided by the petitioners, they will be put to untold hardship and loss.
WP(C) NO.7087 Of 2023
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loans.
WP(C) NO.7087 Of 2023
6
(i) The petitioners shall remit ₹15 lakhs within one month and the balance outstanding amount in 12 consecutive and equal monthly installments along with
WP(C) NO.7087 Of 2023
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accruing interest and other Bank charges, if
any.
(ii) If the petitioners commit single default in
making payments as directed above, the respondents will be at liberty to continue with the coercive proceedings against the petitioners in accordance with law.
(iii) If the petitioners make payments as directed above, coercive proceedings, if any, against the petitioners shall stand deferred.
Sd/-
N.NAGARESH JUDGE
hmh
WP(C) NO.7087 Of 2023
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APPENDIX OF WP(C) 7087/2023
PETITIONER EXHIBITS
Exhibit P1TRUE COPY OF THE POSSESSION NOTICE
ISSUED BY THE 2ND RESPONDENT TO THE
PETITIONER DATED 30-11-2022
Exhibit P2TRUE COPY OF THE OA NO. 59 OF 2023
WITHOUT EXHIBIT FILED THE RESPONDENT
BANK BEFORE THE DEBT RECOVERY TRIBUNAL,
ERNAKULAM.
Exhibit P3TRUE COPY OF THE SALE NOTICE ISSUED BY
THE 2ND RESPONDENT TO THE PETITIONER
DATED 09-02-2023
Exhibit P4TRUE COPY OF THE NOTICE ISSUED BY THE
ADVOCATE COMMISSION TO THE PETITIONER
IN CMP NO.1002/2023
Exhibit P5TRUE COPY OF THE SALE NOTICE ISSUED BY
THE 2ND RESPONDENT TO THE PETITIONER
DATED 16-11-2023
2 issues framed by the court
Whether writ petition challenging coercive recovery proceedings can be allowed if petitioners agree to remit dues in instalments.
Whether coercive proceedings can be deferred upon payment of a substantial lump sum followed by monthly instalments.
2 provisions across 2 enactments
ABDUL RAHIM.V.
MOHAMMED YASIN.V.
UMMERIA
STATE BANK OF INDIA
N. NAGARESH
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court