Kerala High Court
M/S Kallada Tours And Travels vs M/S.Csb Limited on 12 April, 2024
Author: N.Nagaresh
Bench: N.Nagaresh
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR.JUSTICE N.NAGARESH
FRIDAY, THE 12TH DAY OF APRIL 2024 / 23RD CHAITHRA, 1946
WP(C) NO. 14423 OF 2024
PETITIONERS:
1 M/S KALLADA TOURS AND TRAVELS,
PROPRIETOR, MR. SURESH KUMAR K.R.,
REG. OFFICE: 14/37,
NEW PARISH HALL SHOPPING COMPLEX,
IRINJALAKUDA, THRISSUR, PIN - 680125
2 SINDHU K.T
AGED 51 YEARS
W/O SURESH KUMAR K.R., KALLADA HOUSE,
HILL ROAD, IRINJALAKUDA NORTH,
THRISSUR, PIN - 680125
3 SINDHU K.T,
PARTNER M/S KALLADA RENAISSANCE, DOOR NO. 5/534,
KALLADA HOUSE, HILL ROAD, IRINJALAKUDA NORTH,
THRISSUR, PIN - 680125
4 SURESH KUMAR.K.R
AGED 56 YEARS
S/O.RAMAKRISHNAN, KALLADA HOUSE, HILL ROAD,
IRINJALAKUDA NORTH, THRISSUR, PIN - 680125
5 M/S. KALLADA RENAISSANCE,
(PARTNERSHIP FIRM) DOOR NO. 5/534,, KALLADA HOUSE, HILL
ROAD, IRINJALAKUDA NORTH,THRISSUR, PIN - 680125
6 SURESH KUMAR.K.R
AGED 56 YEARS
PARTNER, M/S. KALLADA RENAISSANCE,
DOOR NO.5/534, KALLADA HOUSE, HILL ROAD,
IRINJALAKUDA NORTH, THRISSUR,
PIN - 680125
BY ADVS.
G.HARIHARAN
PRAVEEN.H.
K.S.SMITHA
B.R.SINDU
V.R.SANJEEV KUMAR
V.ROHITH
AFNA V.P.
WP(C) No.14423 Of 2024
2
RESPONDENT:
M/S.CSB LIMITED
[FORMERLY THE CATHOLIC SYRIAN BANK LIMITED)
ZONAL OFFICE, THRISSUR, POST BOX NO.502,
ST.MARY'S COLLEGE ROAD,
THRISSUR
REPRESENTED BY ITS REGIONAL MANAGER,
PIN - 680020
SRI.MADHU RADHAKRISHNAN
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR
ADMISSION ON 12.04.2024, THE COURT ON THE SAME DAY
DELIVERED THE FOLLOWING:
WP(C) No.14423 Of 2024
3
JUDGMENT
Dated this the 12th day of April, 2024 The writ petition has been filed seeking the following reliefs:-
"(i) Issue a writ of mandamus or any other appropriate writ or order commanding the respondent to consider and to take follow up action on the request for OTS proposed by the petitioners as evidenced by the issuance of Exts.P4 and P5 requests addressed to the respondent Bank by the petitioners after showing the names of prospective purchasers.
(ii) Issue a writ of mandamus or any other appropriate writ or order commanding the respondent to keep in abeyance all further proceeding pursuant to the issuance of Ext.P3 notice so as to enable the petitioner to clear of the loan account within a specified time by selling the secured asset along with portion of other properties held by the petitioner."
2. Standing Counsel submits that possession of the secured asset mortgaged by the petitioner has been taken over. As the public sale remained unsuccessful, the Bank has entered into a private sale. The proposed purchaser has paid substantial amount towards advance for purchasing the WP(C) No.14423 Of 2024 4 property of the petitioner.
3. Taking into consideration all the above facts, the prayer of the petitioner for One Time Settlement cannot be granted now. If the petitioner has any further grievance relating to the sale now concluded, the petitioner has to approach the Debts Recovery Tribunal invoking Section 17 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.
The writ petition is therefore dismissed granting liberty to the petitioner to approach the Debts Recovery Tribunal, if the petitioner is so advised.
Sd/-
N.NAGARESH JUDGE hmh WP(C) No.14423 Of 2024 5 APPENDIX OF WP(C) 14423/2024 PETITIONER EXHIBITS Exhibit P1 A TRUE COPY OF THE STATEMENT OF ACCOUNT MAINTAINED BY THE 1ST PETITIONER WITH THE RESPONDENT BANK UPTO 31.07.2021 Exhibit P2 A TRUE COPY OF THE STATEMENT OF ACCOUNT MAINTAINED BY THE 1ST PETITIONER WITH THE RESPONDENT BANK UPTO 30.04.2021 Exhibit P3 A TRUE COPY OF THE NOTICE DATED 12.03.2024 PROPOSING TO SELL THE SECURED ASSETS OF THE PETITIONER Exhibit P4 A TRUE COPY OF THE REPLY DATED 25.03.2024 SENT BY THE PETITIONER ADDRESSED TO THE RESPONDENT Exhibit P5 A TRUE COPY OF THE REQUEST DATED 01.04.2024 MADE BY THE PETITIONER ADDRESSED TO THE RESPONDENT BANK