High Court of Kerala disposed a writ petition seeking quashing of notices and time for debt repayment under the SARFAESI Act, granting one month to pay remaining dues.
Time of one month granted to pay outstanding amount of Rs.90,77,000; no coercive steps for one month.
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 DINESH KUMAR SINGH
THURSDAY, THE 1ST DAY OF AUGUST 2024 / 10TH SRAVANA, 1946
WP(C) NO. 35145 OF 2023
PETITIONERS:
BY ADV LATHEESH SEBASTIAN
RESPONDENTS:
BY ADVS. JOMY GEORGE R.PADMARAJ CHITRA N. DAS RISHAB S. RONA ANN SIBY ASWIN ASHOK V.
OTHER PRESENT:
SRI.JOMY GEORGE-R
THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 01.08.2024,
THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
W.P(C) No. 35145 of 2023
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J U D G M E N T
The present writ petition has been filed seeking the
following reliefs:-
petitioner has paid so far Rs.45,50,000/-(Rupees Forty Five lakhs and Fifty Thousand only) and the remaining outstanding amount
of Rs.90,77,000/- (Rupees Ninety lakhs and Seventy Seven Thousand only) will be paid within a period of one month.
W.P(C) No. 35145 of 2023
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the petitioner, the present writ petition is disposed of granting time of one month to the petitioner to pay the entire outstanding amount of Rs.90,77,000/- (Rupees Ninety lakhs and Seventy Seven Thousand only) within a period of one month from today i.e. on or before 01.09.2024. In case the petitioner fails to make the payment of the entire outstanding amount as directed above, the bank shall be free to proceed against the petitioner. For a period of one month no coercive steps to be taken against the petitioner.
Sd/-
DINESH KUMAR SINGH JUDGE
Anu
W.P(C) No. 35145 of 2023
4
APPENDIX OF WP(C) 35145/2023
PETITIONER EXHIBITS
| Exhibit P1 | COPY OF THE NOTICE UNDER SECTION 13(2) |
|---|---|
| OF THE SARFAESI ACT OF THE 2ND RESPONDENT DATED 25.10.2021 |
|
| Exhibit P2 | TRUE COPY OF SECURITIZATION APPLICATION IN S.A NO 157/2022 DATED 16.03.2022 |
| Exhibit P3 | TRUE COPY OF THE NOTICE OF THE ADVOCATE COMMISSIONER DATED 21.06.2023 |
| Exhibit P4 | TRUE COPY OF THE I.A NO 2130/2023 IN S.A NO 157/2022 DATED 27.06.2023 |
| Exhibit P5 | TRUE COPY OF THE RECEIPT ISSUED BY THE 3RD RESOPONDENT ACKNOWLEDGING RECEIPT OF RS. 5 LAKHS ON 13.07.2023 |
| Exhibit P6 | TRUE COPY OF THE RECEIPT ISSUED BY THE |
| 3RD RESPONDENT TO THE PETITIONER | |
| ACKNOWLEDGING PAYMENT OF RS. 1 LAKH DATED 14.08.2023 |
|
| Exhibit P7 | TRUE COPY OF THE ENTRY IN THE PASSBOOK |
| SHOWING THE PAYMENT OF RS. 20 LAKHS DATED 30.08.2023 |
|
| Exhibit P8 | TRUE COPY OF THE LETTER OF THE PETITIONER DATED 11.09.2023 |
1 issue framed by the court
Whether time should be granted to the petitioner to clear the outstanding debt amount before coercive action is initiated.
1 provisions across 1 enactments
A.P.SPICES AND PAUL P.A.
SOUTH INDIAN BANK LTD.
THE AUTHORIZED OFFICER UNDER THE SARFAESI ACT
THE BRANCH MANAGER, SOUTH INDIAN BANK LTD.
DINESH KUMAR SINGH
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
