Valiyavilayil Construction ... vs The Federal Bank Ltd
2022 Latest Caselaw 4303 Ker

               0IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                PRESENT
          THE HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS
     THURSDAY, THE 7TH DAY OF APRIL 2022 / 17TH CHAITHRA, 1944
                        WP(C) NO. 28789 OF 2021
PETITIONERS:

    1     M/S.VALIYAVILAYIL CONSTRUCTION COMPANY,
          A REGISTERED OFFICE AT BUILDING NO.MP-V/308 A,
          CHENGAMANAD P.O., KOTTARAKKARA, PIN-581 557,
          REPRESENTED BY ITS MANAGING PARTNER.

    2     Y.SLEEBACHAN,AGED 59 YEARS,
          S/O.YOHANNAN, CHARUVILA VEEDU, MELILA, CHENGAMANAD
          P.O., KOTTARAKKARA, KOLLAM DISTRICT, PIN-691 557.

    3     SUJA SLEEBACHAN, AGED 54 YEARS,
          W/O.Y.SLEEBACHAN, CHARUVILA VEEDU, CHENGAMANAD P.O.,
          KOTTARAKKARA, KOLLAM DISTRICT, PIN-691 557.

    4     ABY SLEEBACHAN, AGED 25 YEARS,
          S/O.Y.SLEEBACHAN, CHARUVILA VEEDU, CHENGAMANAD P.O.,
          KOTTARAKAKRA, KOLLAM DISTRICT, PIN-691 557.

          BY ADVS.
          M.R.JAYALATHA
          THOMSTINE K.AUGUSTINE



RESPONDENTS:

    1     THE FEDERAL BANK LTD.,
          REPRESENTED BY ITS BRANCH MANAGER, EDAMON BRANCH,
          KOLLAM DISTRICT, PIN-691 556.

    2     THE AUTHORIZED OFFICER, THE FEDERAL BANK LTD.,
          REPRESENTED BY ITS BRANCH MANAGER,
          EDAMON BRANCH, KOLLAM DISTRICT, PIN-691 556.

          BY ADVS.
          SUNIL SHANKER
          VIDYA GANGADHARAN


     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
07.04.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 W.P.(C) No.28789 of 2021                  2




                          BECHU KURIAN THOMAS, J
                      =======================
                          W.P.(C) No.28789 of 2021
                          ........................................
                      Dated this the 7th day of Arpil , 2022


                                 JUDGMENT

This writ petition was preferred by the petitioners challenging

the proceedings under the Securitization and Reconstruction of Financial

Assets and Enforcement of Security Interest Act, 2002. This Court had

entertained the writ petition since at that time, the Debts Recovery

Tribunal was not functioning and an interim order of stay was also

granted, which continues till today.

2. In the meantime, the Tribunal has commenced its functioning

and the petitioners have an effective remedy before the Tribunal to

pursue its statutory remedies.

3. Having regard to the aforesaid circumstances, I am of the

view that this writ petition can be disposed of giving liberty to the

petitioners to pursue their statutory remedies before the Debts Recovery

Tribunal. As far as the interim order is concerned, since from the date of

filing of the writ petition till date, this Court had interdicted dispossessing

the petitioners, the same shall continue for a period of thirty days to

enable the petitioners to move the statutory Tribunal.

Accordingly, the petitioners shall not be dispossessed for a further

period of thirty days from today and liberty is granted to the petitioners

to move the said Tribunal. Needless to mention the period spent by the

petitioners from 13-12-2021 till today, in pursuing this writ petition shall

stand excluded under Section 14 of the Limitation Act.

The writ petition is disposed of accordingly.

Sd/-

BECHU KURIAN THOMAS JUDGE amk

APPENDIX OF WP(C) 28789/2021

PETITIONERS' EXHIBITS :

Exhibit P1 A TRUE COPY OF THE NOTICE UNDER SECTION 13(2) OF SARFAESI ACT DATED 07.01.2019.

Exhibit P2 A TRUE COPY OF THE NOTICE UNDER SECTION 13(4) OF SARFAESI ACT DTED 28.03.2019.

Exhibit P3 A TRUE COPY OF THE JUDGMENT DATED 25.10.2019 VIDE WPC NO.26060/2019 OF THIS HON' BLE COURT.

Exhibit P4 A TRUE COPY OF THE STATEMENT OF ACCOUNT FOR THE PERIODS 1.1.2016 TO 26.10.2021.

Exhibit P5 A TRUE COPY OF THE REPRESENTATION DATED 29.03.2021 FILED BY THE 2ND PETITIONER.

Exhibit P6 A TRUE COPY OF THE REPLY NOTICE DATED 05.04.2021 ISSUED TO THE 2ND PETITIONER BY THE 2ND RESPONDENT BANK.

Exhibit P7 A TRUE COPY OF THE APPLICATION ONE TIME SETTLEMENT BEFORE THE RESPONDENT BANK DATED 11.11.2021 IN LOAN ACCOUNT NO.12635500003099.

Exhibit P7 A A TRUE COPY OF THE APPLICATION ONE TIME SETTLEMENT BEFORE THE RESPONDENT BANK DATED 11.11.2021 IN LOAN ACCOUNT NO.12635500000590.

Exhibit P8 A TRUE COPY OF THE REPLY NOTICE DATED 12.11.2021 ISSUED BY THE RESPONDENT BANK.

Exhibit P9 A TRUE COPY OF THE REPRESENTATION DATED 18.11.2021 TO THE REPRESENTATION TO THE DEPUTY VICE PRESIDENT OF THE RESPONDENT BANK FILED BY THE 2ND PETITIONER.

Exhibit P10 A TRUE COPY OF THE ORDER DATED 27.11.2021 ISSUED BY THE HON'BLE CHIEF JUDICIAL MAGISTRATE, KOLLAM.

Exhibit P11 A TRUE COPY OF THE TAX RECEIPT DATED 04.12.2021 ISSUED BY THE VILLAGE OFFICER, MELILA.

Exhibit P11 A A TRUE COPY OF THE TAX RECEIPT DATED 04.12.2021 ISSUED BY THE VILLAGE OFFICER, MELILA.

Exhibit P11 B A TRUE COPY OF THE TAX RECEIPT DATED 04.12.2021 ISSUED BY THE VILLAGE OFFICER, MELILA.

Exhibit P1 1 C A TRUE COPY OF THE TAX RECEIPT DATED 04.12.2021 ISSUED BY THE VILLAGE OFFICER, MELILA.

Exhibit P11 D A TRUE COPY OF THE TAX RECEIPT DATED 04.12.2021 ISSUED BY THE VILLAGE OFFICER, MELILA.

Exhibit P12 A TRUE COPY OF THE NEWS PAPER PUBLICATION DATED 31/12/2021