New Horizon Mosaics vs South Indian Bank Ltd
2021 Latest Caselaw 17238 Ker

               IN THE HIGH COURT OF KERALA AT ERNAKULAM
                               PRESENT
          THE HONOURABLE MR. JUSTICE DEVAN RAMACHANDRAN
     FRIDAY, THE 13TH DAY OF AUGUST 2021 / 22ND SRAVANA, 1943
                       WP(C) NO. 16350 OF 2021
PETITIONERS:

    1     M/S.NEW HORIZON MOSAICS, KULANJIPURACKAL BUILDINGS,
          THIRUMOOLAPURAM, THIRUVALLA, PATHANAMTHITTA DISTRICT,
          PIN-689115, REPRESENTED BY ITS 'MANAGING PARTNER',
          SAM JOSE, AGED 63 YEARS, S/O VARGHESE SAMUEL.

    2     SAM JOSE, AGED 63 YEARS,
          S/O VARGHESE SAMUEL, 'MANAGING PARTNER', M/S.NEW
          HORIZON MOSAICS, RESIDING AT THOZHUVATHINKAL HOUSE,
          NEDUMBRAM P.O, THIRUVALLA, PATHANAMTHITTA DISTRICT,
          PIN-689110.

    3     TOM JOSE, 'PARTNER',M/S NEW HORIZON MOSAICS, RESIDING
          AT KAYYALETHU MALAYIL HOUSE, OTHERA WEST P O, OTHERA
          WEST P.O, THIRUVALLA, PATHANAMTHITTA DISTRICT, PIN-
          689551.

          BY ADVS.
          S.JAYAKRISHNAN
          S.PARAMESWARA PRASAD
          S.USHAKUMARI


RESPONDENTS:

    1     SOUTH INDIAN BANK LTD.,
          REPRESENTED BY ITS MANAGING DIRECTOR, REGISTERED
          OFFICE, THRISSUR, PIN-680001.

    2     THE CHIEF MANAGER/AUTHORIZED OFFICER,
          SOUTH INDIAN BANK LTD, REGIONAL OFFICE, 2ND FLOOR, TMJ
          COMPLEX, RAMANCHIRA, THIRUVALLA, PATHANAMTHITTA
          DISTRICT, PIN-689107.

          BY ADVS.SRI.K.K.JOHN
          SMT.NIGI GEORGE
          SRI.MOHAN JACOB GEORGE,SC
          P.V.PARVATHY (P-41)
          REENA THOMAS

      THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION      ON
13.08.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 16350 OF 2021
                                  -2-

                               JUDGMENT

The petitioners have approached this Court

singularly seeking that a loan facility availed of

by them from the 1st respondent Bank, be directed

to be regularized.

2. However, the learned Standing Counsel for

the 1st respondent Bank, Sri.Mohan Jacob George,

submitted that this writ petition is premature

because Ext.P1 is only a notice issued under

Section 13(2) of the Securitization and

Reconstruction of Financial Assets and Enforcement

of Security Interest Act, 2002 ('the SARFAESI

Act', for short). He submitted that, therefore, if

the petitioners require any relief, they will have

to first approach the respondent Bank and seek it,

rather than have approached this Court.

3. In reply, the learned counsel for the

petitioners - Sri.S.Jayakrishnan, submitted that WP(C) NO. 16350 OF 2021

his clients were constrained to approach this

Court because there was no reply to their Ext.P2

request, which was submitted by them before the

respondent Bank. He, therefore, prayed that this

writ petition be ordered as prayed for.

4. When I consider the afore submissions,

there can be little doubt that, at this point of

time, it would not require this Court to intervene

in this matter because the recovery is only at the

stage of issuance of notice under Section 13(2) of

the SARFAESI Act.

5. I, therefore, leave liberty to the

petitioners to approach the Bank with an

appropriate request for regularisation or such

other reliefs; and if this is done within a period

of two weeks from the date of receipt of a copy of

this judgment, the same shall be considered by its

competent Authority, after affording an

opportunity of being heard to the petitioners - WP(C) NO. 16350 OF 2021

either physically or through video conferencing -

thus culminating in an appropriate order thereon,

as expeditiously as is possible.

Needless to say, until such time as the afore

exercise is completed and the resultant order

communicated to the petitioners, all further

action for recovery of the amounts from them will

stand deferred.

This writ petition is thus ordered.

Sd/-

DEVAN RAMACHANDRAN JUDGE akv WP(C) NO. 16350 OF 2021

APPENDIX OF WP(C) 16350/2021

PETITIONER'S EXHIBITS

EXHIBIT P1 TRUE COPY OF NOTICE DATED 21.06.2021 ISSUED BY THE 2ND RESPONDENT TO THE 1ST PETITIONER UNDER SECTION 1392) OF THE SECURITIZATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY INTEREST (SARFAEST) ACT,2002.

EXHIBIT P2 TRUE COPY OF THE REQUEST DATED 16.07.2021 SUBMITTED BY THE PETITIONERS BEFORE THE 2ND RESPONDENT.

EXHIBIT P3 TRUE COPY OF THE REPRESENTATION DATED 03.08.2021 FILED BY THE PETITIONERS BEFORE THE 1ST RESPONDENT.

RESPONDENT'S/S EXHIBITS : NIL.

//TRUE COPY// P.A. TO JUDGE