M/S Canon Granites (P) Limited ... vs The Authorized Officer
2022 Latest Caselaw 12025 Ker

                      IN THE HIGH COURT OF KERALA AT ERNAKULAM

                                      PRESENT

                       THE HONOURABLE MR. JUSTICE GOPINATH P.

           THURSDAY, THE 22ND DAY OF DECEMBER 2022 / 1ST POUSHA, 1944

                              WP(C) NO. 29795 OF 2022

   AGAINST THE ORDER/JUDGMENTSA 403/2022 OF DEBT RECOVERY TRIBUNAL, ERNAKULAM

PETITIONERS:

     1         M/S CANON GRANITES (P) LIMITED REP. BY ITS MANAGING DIRECTOR,
               JOSE.K.FRANCIS
               AGED 60 YEARS
               S/O K C FRANCIS,
               KUTTIKKADAN HOUSE, LOURDHPURAM , THRISSUR, PIN - 680005
     2         SIMON K FRANCIS
               AGED 58 YEARS
               S/O.K.C FRANCIS, DIRECTOR,
               M/S CANON GRANITES (P) LIMITED KUTTIKKADAN HOUSE, LOURDHPURAM ,
               THRISSUR
               , PIN - 680005
               BY ADV G.SREEKUMAR (CHELUR)


RESPONDENTS:

     1         THE AUTHORIZED OFFICER
               SOUTH INDIAN BANK, REGD. OFFICE, SIB HOUSE, TB ROAD, MISSION
               QUARTERS, THRISSUR , PIN - 680001
     2         SOUTH INDIAN BANK
               AYYANTHOLE BRANCH, PLATINUM JUBILEE BUILDING, CIVIL LINE ROAD,
               AYYANTHOLE, THRISSUR-03 REPRESENTED BY ITS BRANCH MANAGER,
               AYYANTHOLE P O, THRISSUR DISTRICT , PIN - 680003
               BY ADVS.
               SRI.K.K.JOHN,SC,SOUTH INDIAN BANK
               Sunil Shankar A
               VIDYA GANGADHARAN(K/000424/2020)
               SANDHRA.S(K/001610/2021)



      THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
22.12.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 W.P. (C) No. 29795 of 2022
                               ..2..




                             JUDGMENT

Dated this the 22nd day of December, 2022

This writ petition has been filed challenging

Ext.P6 order of the Tribunal on I.A.No.1927 of 2022

and I.A.No.1926 of 2022 in S.A.No.403 of 2022.

When this Writ petition is taken up for consideration

today, it is not disputed that the petitioners have

failed to comply with the conditions imposed in the

interim order, dated 26.09.2022.

2. It is submitted by the learned counsel

appearing for the respondent bank that the amount

remitted by the petitioners is less than 10% of the

amount directed to be paid in terms of the interim

order.

3. The learned counsel appearing for the

petitioners would state that the petitioners have

already filed an affidavit in S.A.No. 403 of 2022, W.P. (C) No. 29795 of 2022 ..3..

undertaking that if the entire liability is not settled

within three months from 07.11.2022, the petitioners

will abandon all the contentions taken in the

Securitization Application. It is submitted that the

tribunal is not acting on the said affidavit, on account

of the fact that this Writ Petition is pending before

this court. The learned counsel for the petitioners

would state that if the bank is willing to permit the

petitioners to act in terms of the undertaking

contained in the affidavit filed before the Debts

Recovery Tribunal, this Writ Petition can be disposed

of recording the undertaking given by the

petitioners.

4. The learned counsel appearing for the

respondent bank states that since the petitioners

have not complied with the conditions imposed in the

interim order dated 26.09.2022, the petitioners are

clearly not entitled to any further directions or relief W.P. (C) No. 29795 of 2022 ..4..

from this court. The learned counsel appearing for

the respondent bank states that since the petitioners

did not comply with the terms of the interim order,

the bank is proposing to take physical possession of

the secured asset tomorrow (23.12.2022).

5. The learned counsel appearing for the

petitioners would submit that the secured asset in

question is a running quarry, where nearly 200

workers are employed and if the bank takes

possession without considering the request of the

petitioners for some time to settle the liability, the

entire business will collapse and nearly 200 families

will loose their only source of livelihood. It is

submitted that the other secured asset is the

residential house of the petitioners. It is submitted

that in such circumstances since the petitioners are

undertaking to withdraw all contentions in the

securitisation application and also undertaking to W.P. (C) No. 29795 of 2022 ..5..

give up all challenge to the measures adopted by the

bank, it is only appropriate that the bank considers

the request of the petitioners for time to settle the

liability.

6. Having heard the learned counsel for the

petitioners and learned counsel for the respondent

bank and having regard to the limited relief now

sought for by the petitioners, this writ petition will

stand disposed of directing that if the petitioners

submit a proposal for settling the liability in full on or

before a particular date to be indicated in the

proposal, the competent authority of the respondent

bank shall consider such request, provided such

request is filed before 05.00PM today (22.12.2022).

A decision on the request of the petitioners shall be

taken after affording to the petitioners an opportunity

of being heard. The petitioners shall appear before

the competent authority of the respondent bank at W.P. (C) No. 29795 of 2022 ..6..

11.00AM on Monday (26.12.2022). Till such time as a

decision is taken on the request made by the

petitioners, taking of physical possession shall stand

adjourned.

The writ petition will stand disposed of as above.

Sd/-

GOPINATH P.

JUDGE RMV W.P. (C) No. 29795 of 2022 ..7..

APPENDIX OF WP(C) 29795/2022

PETITIONER EXHIBITS Exhibit P1 A TRUE COPY OF THE DEMAND NOTICE DATED 23.7.2021 ISSUED BY THE RESPONDENT TO THE PETITIONERS. Exhibit P2 A TRUE COPY OF THE OBJECTION DATED 16.9.2021 ISSUED BY THE PETITIONERS TO THE RESPONDENT. Exhibit P3 A TRUE COPY OF THE PAPER PUBLICATION DATED 29.3.2022 OF THE POSSESSION NOTICE.

Exhibit P4 A TRUE COPY OF THE S A NO 403 OF 2022 DATED 22.6.2022 ON THE FILE OF THE DEBTS RECOVERY TRIBUNAL, ERNAKULAM.

Exhibit P5 : A TRUE COPY OF THE NOTICE DATED 5.8.2022 ISSUED BY THE ADVOCATE COMMISSIONER TO THE PETITIONERS. Exhibit P6 TRUE COPY OF THE ORDER IN IA NO. 1926 OF 2022 FOR STAY OF EXHIBIT P5 NOTICE DATED 26.8.2022 PASSED BY THE DRT II, ERNAKULAM..

Exhibit P7 A TRUE COPY OF THE JUDGMENT IN O P DRT NO 355 OF 2022 DATED 1.9.2022 BY THIS HON'BLE COURT. Exhibit P8 A TRUE COPY OF THE LETTER GIVEN BY THE PETITIONERS DATED 13.9.2022.

Exhibit P9 A TRUE COPY OF THE SALE NOTICE ISSUED TO THE PETITIONERS DATED 13.9.2022.

Exhibit P10 A TRUE COPY OF THE I A IN S A NO. 403 OF 2022 DATED 15/L2/2022.

RESPONDENTS' EXHIBITS:NIL

TRUE COPY

P.A.TO JUDGE