A borrower who availed an overdraft facility sought stay of the bank's SARFAESI possession notice and permission to clear dues in fifteen monthly instalments. With no substantial remittances made, the court dismissed the petition, directing that grievances against the possession notice be taken to the Debts Recovery Tribunal.
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IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR.JUSTICE N.NAGARESH
TUESDAY, THE 28TH DAY OF MAY 2024 / 7TH JYAISHTA, 1946
WP(C) NO. 22154 OF 2023
PETITIONER:
SATHEESH KUMAR,
AGED 52 YEARS
S/O SOMANATHAN PILLAI, PUTHEN THUNDATHIL VEEDU,
BEACH ROAD, KOLLAM, PIN – 691001
BY ADVS.
SAJU J PANICKER
KURIAN K JOSE
RESPONDENT:
THE AUTHORIZED OFFICER
INDIAN BANK. KADAPPAKKADA BRANCH.
KADAPPAKKADA P.O .KOLLAM.,
PIN – 691008
BY ADV K.V.RAJESWARI
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
28.05.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WP(C) No.22154 Of 2023
2
JUDGMENT
Dated this the 28th day of May, 2024
The petitioner availed 16 lakhs as Overdraft facility₹ from the Indian Bank. The petitioner mortgaged 7.93 Ares of property in Paripally Village, Kollam Taluk as security.
is ready to pay the liability due to the Bank. The petitioner requires only 15 months time to clear the liability due to the
WP(C) No.22154 Of 2023
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Bank.
4. The petitioner therefore has made the following
prayers:-
“i. To issue a writ of mandamus, order or direction staying all further proceedings pursuant to Exhibit P2 possession notice.
ii. To issue a writ of mandamus, order or direction directing the respondents to allow the petitioner to clear the liability due to the bank as on today in fifteen monthly installments.”
07.07.2023, this Court passed an interim order directing the respondent to defer further proceedings pursuant to Ext.P2
till 27.07.2023. The interim order was extended till
04.08.2023 and was not extended thereafter.
due to the Bank in 15 monthly instalments. The writ petition
was filed in the month of July, 2023 and more than ten months have already lapsed. The petitioner has not made
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any substantial remittances to the Bank.
this writ petition is against Ext.P2 Possession Notice. Ext.P2 Possession Notice is one issued under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. If the petitioner is aggrieved by Ext.P2, the petitioner ought to have approached the competent Debts Recovery Tribunal.
I find that the writ petition is without any merit. The writ petition is therefore dismissed.
Sd/-
N.NAGARESH
JUDGE
hmh
WP(C) No.22154 Of 2023
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APPENDIX OF WP(C) 22154/2023
PETITIONER EXHIBITS
Exhibit p1THE TRUE COPY OF THE NOTICE DATED
20.02.2023 ISSUED BY THE RESPONDENT
BANK TO THE PETITIONER .
Exhibit p2THE TRUE COPY OF THE POSSESSION NOTICE
DATED 13.06.2023 ISSUED BY HE
RESPONDENT.
2 issues framed by the court
Whether proceedings pursuant to the possession notice could be stayed and the loan liability cleared in fifteen monthly instalments.
Whether a writ petition is the proper forum for challenging the SARFAESI possession notice.
2 provisions across 2 enactments
Satheesh Kumar
The Authorized Officer, Indian Bank, Kadappakkada Branch
N.NagaresH
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court