IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE GOPINATH P.
THURSDAY, THE 25TH DAY OF AUGUST 2022 / 3RD BHADRA, 1944
WP(C) NO. 26598 OF 2022
PETITIONER/S:
1 SOUBAGYAM FOOD INDUSTRY (PVT) LTD
REGD OFFICE 7/653, ELATHOOR PANCHAYATH, PUTHIANGADI,
KOZHIKODE-673002 REPRESENTED BY ITS MANAGING DIRECTOR
MR. P V CHANDRAN, AGED 84 YEARS, S/O. LATE P V SWAMY,
RESIDING AT KERALA KALA, AZCHAVATTOM PO, MANKAVU,
KOZHIKODE, PIN - 673007
2 M/S. K T C MOTORS,6/771 B, YMCA ROAD,
KOZHIKODE- 673 001 REPRESENTED BY
MANAGING PARTNER MR. P.V. NIDHEESH
S/O MR.P.V CHANDRAN AGED 52 YEARS ,
RESIDING AT KERALA KALA,AZCHAVATTOM
P.O,MANKAVU ,KOZHIKODE- 673007, PIN - 673007
3 M/S. KERALA TRANSPORT COMPANY, YMCA ROAD,
CALICUT 673 001 REPRESENTED BY MANAGING PARTNER
MR.P.V.CHANDRAN , S/O PV SWAMY AGED 87 YEARS
RESIDING AT KERALA KALA AZCHAVATTOM PO
MANKAVU ,KOZHIKODE- 673007, PIN - 673007
4 MR. P V. NIDHISH, AGED 52 YEARS
S/O MR. P.V.CHANDRAN
RESIDING AT KERALA KALA AZCHAVATTOM PO
MANKAVU ,KOZHIKODE- 673007, PIN - 673007
5 MR. P V CHANDRAN, AGED 87 YEARS
S/O LATE P.V SWAMY
RESIDING AT KERALA KALA AZCHAVATTOM PO
MANKAVU ,KOZHIKODE, PIN - 673007
6 MR. P V GANGADHARAN,AGED 79 YEARS
S/O LATE P.V SWAMY
RESIDING AT KERALA KALA, AZCHAVATTOM PO
MANKAVU , KOZHIKODE- 673007, PIN - 673007
7 MRS. P V SHENUGA
AGED 50 YEARS
D/O P.V.GANGADHARAN
KERALA KALA AZCHAVATTOM PO
MANKAVU ,KOZHIKODE- 673007, PIN - 673007
BY ADVS.
T.G.RAJENDRAN
C.S.ULLAS
T.R.TARIN
WP(C) NO. 26598 OF 2022 2
RESPONDENT/S:
1 UNION OF INDIA
REPRESENTED BY ITS
SECRETARY, MINISTRY OF FINANCE,
UNION OF INDIA,NEW DELHI, PIN - 110001
2 RESERVE BANK OF INDIA
REPRESENTED BY ITS REGIONAL DIRECTOR,
BANERJI ROAD, ERNAKULAM NORTH, KALOOR,
ERNAKULAM, KERALA, PIN - 682018
3 DEWAN HOUSING FINANCE CORPORATION LTD
HAVING REGISTERED OFFICE AT WARDEN HOUSE,
2NDFLOORSIR PM ROAD,FORT,MUMBAI-400 001
AND BRANCH OFFICE AT FIRST FLOOR ,CITY MALL BUILDING,
YMCA ROAD, JUNCTION CALICUT REPRESENTED
BY MATHEW GEORGE, AUTHOIRSED OFFICER & REGIONAL
MANAGER, PIN - 400001
ADV. P PAULOCHAN ANTONY (SC)
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
25.08.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WP(C) NO. 26598 OF 2022 3
JUDGMENT
This writ petition is filed, being aggrieved by the fact the proceedings under Section 14 of the SARFAESI Act were initiated and continued by a Company which is non-existing, .
2. When this matter taken up for consideration today, it is the submission of Adv.Paulochan Antony, who appears for Piramal Capital and Housing Finance Limited that, the Company which filed the petition under Section 14 of the SARFAESI Act before the Chief Judicial Magistrate Court, Kozhikode has been taken over by the aforesaid Company, following a resolution plan sanctioned by the National Company Law Tribunal, Mumbai Bench on 07.06.2021. He submits that appropriate applications will be filed before the Chief Judicial Magistrate Court, Kozhikode. He also refers to the fresh certificate of incorporation issued under the provisions of the Companies Act, in respect of the Company which moved the application before the Chief Judicial Magistrate Court, Kozhikode .
3. Taking note of the above submissions this writ petition is disposed of, permitting Piramal Capital and Housing WP(C) NO. 26598 OF 2022 4 Finance Limited to file an appropriate application for substituting it as a 'petitioner' in proceedings before the Chief Judicial Magistrate Court, Kozhikode under Section 14 of the SARFAESI Act. Further proceedings pursuant to any order issued by the Chief Judicial Magistrate, Kozhikode shall be kept abeyance till orders are passed substituting Piramal Capital and Housing Finance Limited as the petitioner in place of the former Company which filed the application.
Piramal Capital and Housing Finance Limited shall also file a copy of the scheme by which all rights, liabilities and assets of M/s. Dewan Housing Finance Corporation Limited vested in Piramal Capital and Housing Finance Limited, before the Chief Judicial Magistrate Court The writ petition is disposed of as above.
sd/-
GOPINATH P.
JUDGE ajt WP(C) NO. 26598 OF 2022 5 APPENDIX OF WP(C) 26598/2022 PETITIONER EXHIBITS Exhibit1 THE TRUE COPY OF THE 13(2) NOTICE DATED 13.8.2018 ISSUED TO THE PETITIONERS BY THE 3RD RESPONDENT Exhibit2 THE TRUE COPY OF THE 13(2) NOTICE DATED 30.6.2022 Exhibit3 THE TRUE COPY OF THE POSSESSION NOTICE DATED 15.12.2020 Exhibit4 THE TRUE COPY OF THE NOTICE DATED 15.7.2021 ISSUED BY THE ADVOCATE COMMISSIONER APPOINTED BY THE CHIEF JUDICIAL MAGISTRATE COURT KOZHIKODE IN MC 20/2021 Exhibit5 THE TRUE COPY OF THE SECTION 14 APPLICATION NUMBERED AS MC 20/2021 BEFORE THE CHIEF JUDICIAL MAGISTRATE COURT KOZHIKODE Exhibit6 5. THE TRUE COPY OF THE EXTRACT OF THE BOARD DIRECTORS OF THE 3RDRESPONDENT COMPANY DATED 12.11.2019 APPOINTING THE SIGNATORY TO THE MC 20/2021 AS AUTHORISED OFFICER UNDER THE SAFAESI ACT FILED ALONG WITH THE MC 20/2021 Exhibit7 THE TRUE COPY OF THE GAZETTE OF INDIA DATED 10.11.2003 Exhibit8 THE TRUE COPY OF THE ORDER DATED 23.3.2021 IN MC 20/2021 PASSED BY THE CHIEF JUDICIAL MAGISTRATE COURT KOZHIKODE Exhibit9 THE TRUE COPY OF THE PRESS RELEASE ISSUED BY THE RESERVE BANK OF INDIA DATED 20.11.2019 Exhibit10 COPY OF THE PRESS RELEASE DATED 29.11.2019 ISSUED BY THE RESERVE BANK OF INDIA INTIMATING THE INITIATION INSOLVENCY RESOLUTION PROCESS AGAINST THE 3RDRESPONDENT FINANCIAL INSTITUTION Exhibit11 THE TRUE COPY OF THE NOTICE DATED 29.11.2019 ISSUED BY THE 3RD RESPONDENT Exhibit12 THE TRUE COPY OF THE PRESS RELEASE DATED 4.12.2019 REGARDING THE FORMATION OF ADVISORY COMMITTEE Exhibit13 THE TRUE COPY OF THE NOTICE DATED 8.8.2022 ISSUED BY THE HONOURABLE CHIEF JUDICIAL MAGISTRATE COURT KOZHIKODE IN MC 20/2021 Exhibit14 THE TRUE COPY OF THE ORDER DATED 12.8.2022 ISSUED BY THE HONOURABLE CHIEF JUDICIAL MAGISTRATE COURT KOZHIKODE IN MC 20/2021 DOWNLOADED FROM THE E COURT SITE