IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE GOPINATH P.
THURSDAY, THE 7TH DAY OF JULY 2022 / 16TH ASHADHA, 1944
WP(C) NO. 14201 OF 2022
PETITIONER:
ADARSH MURALEEDHARAN,
AGED 36 YEARS,
S/O. V.A.MURALEEDHARAN, 522/21, ANJALI,
AVANEESHWARAM RSPO, KUNNIKODU, KOLLAM DISTRICT,
PIN-691 508.
BY ADV P.A.MUJEEB
RESPONDENTS:
1 SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA (SIDBI),
REPRESENTED BY ITS BRANCH MANAGER, FINANCE TOWER,
2ND FLOOR, POST BOX NO.4209, KALOOR, KOCHI,
PIN - 682 017.
2 THE AUTHORIZED OFFICER,
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA (SIDBI),
FINANCE TOWER, 2ND FLOOR, POST BOX NO.4209, KALOOR,
KOCHI, PIN-682 017.
BY ADV SUJESH KUMAR K P, SC
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
07.07.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WP(C) NO. 14201 OF 2022
2
JUDGMENT
This writ petition has been filed challenging the proceedings initiated against the petitioner under the provisions of the SARFAESI Act.
2. Today when the matter is taken up consideration, it is the submission of the learned counsel appearing for the 1 st respondent that the amount presently due from the petitioner is Rs.1.98 Crores and the 1 st respondent has already filed an Original Application before the Tribunal. It is submitted that this writ petition is not maintainable as no concrete proposal has been put forward by the petitioner to settle the liabilities towards the 1st respondent.
3. Heard the learned counsel for the petitioner and the learned counsel appearing for the respondents.
Taking note of the fact that the 1st respondent has already approached the Debts Recovery Tribunal by filing an Original Application, I am of the opinion that the petitioner is not entitled to any further relief from this Court. The petitioner may file a Securitisation application against any proceedings WP(C) NO. 14201 OF 2022 3 initiated by the Bank under the SARFAESI Act if he is aggrieved by the same. Reserving such liberty of the petitioner, this writ petition will stand closed, making it clear that the period during which this writ petition was pending before this Court, namely from 19.04.2022 till today shall be excluded for the purpose of determining any period of limitation for filling a Securitisation application. This will however be on condition that the Securitisation Application is filed within a period of one week from the date of receipt of a certified copy of this judgment. If such Securitisation application is filed within the time permitted above, the coercive steps against the petitioner under the SARFAESI Act shall be kept in abeyance till 25.07.2022 in order to enable the petitioner to seek appropriate interim reliefs from the Tribunal. It is made clear that I have not expressed any opinion on the merits of the matter and it will be open to the Tribunal to decide the matter in accordance with law .
Sd/-
GOPINATH P.
JUDGE DK WP(C) NO. 14201 OF 2022 4 APPENDIX OF WP(C) 14201/2022 PETITIONER EXHIBITS Exhibit P1 A TRUE COPY OF THE NOTICE ISSUED THE 2ND RESPONDENT AGAINST THE PETITIONER TO THE CLEARANCE OF OVERDUES DATED 21.10.2021 Exhibit P2 TRUE COPY OF THE STATEMENT OF LOAN ACCOUNT Exhibit P3 TRUE COPY OF THE ORDER DATED 20.12.2021 IN WPC NO.25071 OF 2021 BEFORE THIS HON'BLE COURT