M/S. Heera Life Style (P) Ltd vs The Chief Manager
2021 Latest Caselaw 7253 Ker

               IN THE HIGH COURT OF KERALA AT ERNAKULAM

                                PRESENT

               THE HONOURABLE MR. JUSTICE SHAJI P.CHALY

       TUESDAY, THE 02ND DAY OF MARCH 2021 / 11TH PHALGUNA, 1942

                  RP.No.349 OF 2017 IN WP(C). 3261/2017

AGAINST THE JUDGMENT DATED 02.03.2017 IN WPC 3261/2017 OF HIGH COURT OF
                               KERALA


REVIEW PETITIONER/PETITIONER:

              M/S. HEERA LIFE STYLE (P) LTD.,
              HEERA PARK, M.P. APPAN ROAD,
              VAZHUTHACAUD,THIRUVANANTHAPURAM, REPRESENTED BY ITS
              MANAGING DIRECTOR, A. ABDUL [email protected] DR.A.R. BABU.

              BY ADVS.
              SRI.K.M.SATHYANATHA MENON
              SMT.KAVERY S THAMPI

RESPONDENTS/RESPONDENTS:

       1      THE CHIEF MANAGER
              KERALA FINANCIAL CORPORATION,BRANCH OFFICE,
              VELLAYAMBALAM,THIRUVANANTHAPURAM-695 033.

       2      KERALA FINANCIAL CORPORATION,
              VELLAYAMBALAM, THIRUVANANTHAPURAM,PIN - 695 033,
              REPRESENTED BY ITSCHAIRMAN/MANAING DIRECTOR.


     THIS REVIEW PETITION HAVING COME UP FOR ADMISSION ON 02.03.2021,
     THE COURT ON THE SAME DAY PASSED THE FOLLOWING:
 R.P. No. 349/2017                              :2:
in W.P.(C) No. 3261/2017

               Dated this the 2nd day of March, 2021.

                                ORDER

This Review Petition is filed by the petitioner in the writ petition

seeking to review the judgment dated 02.03.2017 in W.P.(C) No. 3261

of 2017.

2. The subject issue relates to the proceeding initiated by the

Kerala Financial Corporation against the review petitioner/writ

petitioner under the provisions of the SARFAESI Act. Directions were

issued to pay off the amounts due in 6 monthly instalments as was

sought for by the Review Petitioner.

3. The Review Petition is flied basically contending that the

review petitioner was unable to pay the amount and clear the loan

transaction.

4. However, today, when the matter was taken up for

consideration, the learned counsel for the review petitioner has

produced the proceeding of the National Company Law Tribunal in

CP(1b)-4447/MB/2018 apparently under Section 7 of the Insolvency

and Bankruptcy Code, 2016.

5. Anyhow, I do not think anything survives to be considered in

this Review Petition, in view of the later proceeding initiated before the

in W.P.(C) No. 3261/2017

National Company Law Tribunal, Mumbai Bench by the IFCI Limited,

New Delhi. Accordingly, the Review Petition is dismissed, leaving open

the liberty of the Review Petitioner to take up all the contentions in the

pending proceeding before the National Company Law Tribunal.

sd/-

SHAJI P. CHALY, JUDGE.

Rv

in W.P.(C) No. 3261/2017

APPENDIX

PETITIONER'S ANNEXURES:

ANNEXURE A: TRUE COPY OF THE JUDGMENT DATED 02.03.2017 IN W.P.(C) No. 3261/2017.

RESPONDENTS' ANNEXURES: NIL

/True Copy/

PS To Judge.

rv