Thankachan Samuel vs The Quilon Co-Operative Urban ...
2021 Latest Caselaw 1462 Ker

                IN THE HIGH COURT OF KERALA AT ERNAKULAM

                                PRESENT

                  THE HONOURABLE MR. JUSTICE A.M.BADAR

    THURSDAY, THE 14TH DAY OF JANUARY 2021 / 24TH POUSHA, 1942

                        WP(C).No.1000 OF 2021(Y)


PETITIONER/S:

                THANKACHAN SAMUEL, AGED 57 YEARS
                S/O.SAMUEL, KANNAKARA, ETHANVAZHA, NELLAMTHOTTAM,
                LAKSHMI NADA, KOLLAM.

                BY ADV. SRI.BIJU .C. ABRAHAM

RESPONDENT/S:

      1         THE QUILON CO-OPERATIVE URBAN BANK LTD Q NO.960
                YMCA ROAD, KOLLAM DISTRICT-691 581,
                REPRESENTED BY ITS AUTHORIZED OFFICER.

      2         THE AUTHORIZED OFFICER,
                QUILON CO-OPERATIVE URBAN BANK LTD.,
                YMCA ROAD, KOLLAM DISTRICT-691 581.

      3         THASNI OAS, W/O.SINU, FLAT NO.61, SUNAMI FLAT,
                UNNIASO COLONY, MUDAKARA, KOLLAM,
                NOW RESIDING AT KADAPPURAM PURAMPOKE, KAIKULANGARA
                WEST, NOW COLONY NO.41, PO VADDY, KOLLAM.




                 SMT. RENU D.P, STANDING COUNSEL

     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
14.01.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C).No.1000 OF 2021               2



                                JUDGMENT

Dated this the 14th day of January 2021

Heard both sides.

2. The petitioner had availed consumptional loan from the

respondent society by mortgaging his property. It is seen from the

averments made in the petition that the said loan became Non

Performing Asset and the secured creditor has taken steps under the

Securitisation and Reconstruction of Financial Assets and Enforcement of

Securities Interest Act (hereinafter referred to as 'the SARFAESI Act').

3. Ultimately, as reported by the learned Standing Counsel

appearing for respondent Nos.1 and 2, on 28.12.2020, sale of secured

assets in favour of respondent No.3 has been confirmed.

4. The learned counsel appearing for the petitioner submits

that the petitioner could not repay the loan because of heart ailments.

According to the learned counsel for the petitioner, there was only a

single person who participated in the auction. Others were not allowed

to participate in the auction. It is further contended that petitioner had

filed a representation before the bank, which was not considered and if

further actions are not stayed, the petitioner would be thrown on the

street.

5. Learned Standing Counsel appearing for respondent Nos.1

and 2 opposed the petition.

6. I have considered the submissions so advanced. According

to the avermetns made in the petition itself, the loan was declared as

Non Performing Asset and by adhering to the steps prescribed by the

SARFAESI Act, physical possession of the secured asset was already

taken . Ultimately, it was sold in favour of the 3 rd respondent and the

sale has also been confirmed. Now the interest of third person is created

by operation of law.

7. The SARFAESI Act is a self content Code, which prescribes

statutory remedy of challenging steps taken by the secured creditor in

the matter. Therefore, this is not a fit case to exercise the writ

jurisdiction. Valuable reference can be made to the position of law

enumerated by the Hon'ble Apex Court in the matter of Authorized

Officer, State Bank of Travancore and another vs. Mathew K.C

(2018(1) KLT 784). The writ petition is accordingly dismissed, because

of availability of alternate and most efficacious remedy.

8. The learned counsel appearing for the petitioner has made

request for stay of further proceedings in the matter, but as alternate

remedy is available, such request cannot be adhere to.

The writ petition is accordingly dismissed.

Sd/-

A.M.BADAR

JUDGE

APPENDIX PETITIONER'S/S EXHIBITS:

EXHIBIT P1 TRUE COPY OF THE AUCTION NOTICE AFFIXED IN THE HOUSE OF THE PETITIONER ALONG WITH ENGLISH TRANSLATION.

EXHIBIT P1(a) TRUE COPY OF THE RELEVANT PAGES OF THE PROPERTY DETAILS OF THE PETITIONER'S PROPERTY PUBLISHED BY THE RESPONDENTS ALONG WITH ENGLISH TRANSLATION.