B.Satyaseelan vs State Bank Of India
2021 Latest Caselaw 22129 Ker

                IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                PRESENT
          THE HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS
    FRIDAY, THE 5TH DAY OF NOVEMBER 2021 / 14TH KARTHIKA, 1943
                        WP(C) NO. 19838 OF 2021
PETITIONERS :

    1     B.SATYASEELAN,
          AGED 61 YEARS,
          S/O. BHASKARAN, RESIDING AT 'CHAIDHANYAM'
          (UMMARAPALLIL), KOTTATHALA P. O.,
          KOTTARAKARA,
          PIN - 691 507.

    2     RENUKA SATHYASEELAN,
          AGED 60 YEARS,
          W/O. SATYASEELAN, 'CHAIDHANYAM'
          (UMMARAPALLIL), KOTTATHALA P. O.,
          KOTTARAKARA, PIN - 691 507.

          BY ADVS.
          P.G.JAYASHANKAR
          P.K.RESHMA (KALARICKAL)
          REVATHY P. MANOHARAN


RESPONDENTS :

    1     STATE BANK OF INDIA,
          2ND FLOOR, RAVI'S ARCADE, NEAR IRON BRIDGE,
          KOLLAM - 691 013, REPRESENTED BY ITS GENERAL MANAGER.

    2     THE AUTHORISED OFFICER,
          STATE BANK OF INDIA, 2ND FLOOR,
          RAVI'S ARCADE, NEAR IRON BRIDGE,
          KOLLAM - 691 013.

    3     THE GENERAL MANAGER,
          STRESSED ASSETS RECOVERY BRANCH,
          STATE BANK OF INDIA, 2ND FLOOR,
          RAVI'S ARCADE, NEAR IRON BRIDGE,
          KOLLAM - 691 013.

          BY ADV P.GOPAL, SC


     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
05.11.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 19838 OF 2021
                                     2


                      BECHU KURIAN THOMAS, J.
                  -----------------------------------------
                       W.P.(C) No. 19838 of 2021
                  ----------------------------------------
                 Dated this the 5th day of November, 2021

                               JUDGMENT

Petitioners challenge the proceedings initiated under the

Securitisation and Reconstruction of Financial Assets and

Enforcement of Security Interest Act, 2002 (for short, the 'SARFAESI

Act'). They have also filed an application for one time settlement of

the entire loan liabilities through Ext.P2.

2. Adv.P.Gopal, the learned Standing Counsel for the

respondents, pursuant to instructions, submitted that the sale

scheduled initially on 24.09.2021 and thereafter on 25.10.2021, both

had not taken place due to absence of bidders. He further submitted

that though the amount offered by the petitioner as a one time

settlement as mentioned in Ext.P2 was not acceptable to the

respondent bank, they are willing to consider a scheme for

settlement if scales up his settlement offer.

3. The learned counsel for the petitioner agrees for the

suggestion to submit a fresh proposal with revised amount for

settlement.

WP(C) NO. 19838 OF 2021

Accordingly, there will be a direction to the respondents to

consider a fresh application for settlement mooted by the petitioner

with enhanced amount for settlement. If such an application is filed,

the competent among the respondents shall consider and pass

appropriate orders after hearing the petitioner within a period of 30

days from the filing of such a petition. It is also clarified that the

proposal to be suggested by the petitioner shall be filed before the

2nd respondent within a period of 15 days from today.

The writ petition is disposed of as above.

Sd/-

BECHU KURIAN THOMAS, JUDGE RKM WP(C) NO. 19838 OF 2021

APPENDIX OF WP(C) 19838/2021

PETITIONERS' EXHIBITS :

Exhibit P1 A TRUE COPY OF THE E-AUCTION NOTICE DATED 21.01.2018 ISSUED BY THE RESPONDENT BANK.

Exhibit P2 A TRUE COPY OF THE PETITION DATED 27.07.2021 PREFERRED BY THE PETITIONERS BEFORE THE 3RD RESPONDENT.

Exhibit P3 A TRUE COPY OF THE E-AUCTION NOTICE DATED 01.09.2021 ISSUED BY THE 1ST RESPONDENT BANK.

Exhibit P4 A TRUE COPY OF THE LEGAL NOTICE DATED 14.09.2021 PREFERRED BY THE PETITIONER AGAINST THE RESPONDENT BANK.