M/S.Jrp Enterprises vs Authorised Officer
2022 Latest Caselaw 12427 Ker

                IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                PRESENT
                 THE HONOURABLE MR. JUSTICE GOPINATH P.
     FRIDAY, THE 23RD DAY OF DECEMBER 2022 / 2ND POUSHA, 1944
                        WP(C) NO. 42220 OF 2022
PETITIONER/S:

    1     M/S.JRP ENTERPRISES
          AGED 57 YEARS
          REPRESENTED BY ITS MANAGING PARTNER, JAYASANKAR, AGED
          57 YEARS , S/O MADHAVA PANICKER, 33/1541-A, THEMPAT
          HOUSE,
          PRIYADARSHINI ROAD, CHAKKARAPARAMBU, VENNALA P.O,
          KOCHI. , PIN - 682028
    2     JAYASANKAR
          AGED 57 YEARS
          S/O MADHAVA PANICKER, 33/1541-A, THEMPAT
          HOUSE, PRIYADARSHINI ROAD, CHAKKARAPARAMBU, VENNALA
          P.O, KOCHI. , PIN - 682028
    3     MRS. JEEJA NAIR
          AGED 49 YEARS
          W/O.JAYASANKAR, 33/1541-A, THEMPAT HOUSE,
          PRIYADARSHINI ROAD, CHAKKARAPARAMBU, VENNALA P.O,
          KOCHI. , PIN - 682028
          BY ADVS.
          VINOD VALLIKAPPAN
          S.SUMITHA


RESPONDENT/S:

          AUTHORISED OFFICER
          ( CHIEF MANAGER) SOUTH INDIAN BANK, REGIONAL OFFICE,
          SIB BUILDLING, INFO PARK ROAD, RAJAGIRI VALLEY POST,
          KAKKANAD, ERNAKULAM, DISTRICT., PIN - 682039
          BY ADV SUNIL SHANKER




          Adv Sunil Shanker


     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
23.12.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 42220 OF 2022                    2



                                JUDGMENT

Petitioners obtained credit facilities from the respondent

bank and committed default in repayment. Proceedings were

taken against them under the provisions of the SARFAESI Act.

An earlier writ petition, which were disposed of, finding that

since the petitioners have already moved the Debts Recovery

Tribunal by filing a Securitisation Application under Section 17 of

the SARFAESI Act, it is for them to obtain relief in those

proceedings.

2. Though the earlier writ petition was disposed of in the

month of June, 2022, the petitioners have not attempted to have

their interlocutory applications filed before the Tribunal heard.

The properties of the petitioners are now scheduled to be sold on

09.01.2023. The petitioners have now approached this Court,

stating that they have filed an application for One Time

Settlement and the same may be considered before taking

physical possession of the property pursuant to Ext.P3 notice

issued by the advocate commissioner.

3. Learned counsel appearing for the respondent bank

refers to the earlier proceedings before this Court and submits

that since the petitioners did not move the Tribunal as observed

by this Court, they are unnecessarily trying to protract the

proceedings. It is also pointed out that the offer for One Time

Settlement submitted by the petitioners as Ext.P4 has already

been rejected by the bank and a communication in this regard

has already been issued on 22.12.2022.

4. Faced with this situation, learned counsel appearing

for the petitioners would submit that petitioners may be

permitted to approach the bank with an improved offer for One

Time Settlement.

5. Having regard to the limited nature of relief now

sought for by the petitioners, the writ petition will stand disposed

of, directing that if the petitioners appear before the respondent

at 11.00 AM on 26.12.2022 and also makes a fresh application for

One Time Settlement, the competent authority of the respondent

shall consider the same and communicate its decision to the

petitioner not later than 28.12.2022. If One Time Settlement is

granted to the petitioners, petitioners will abide by the terms of

One Time Settlement. If the application for One Time Settlement

is rejected or if the petitioners fail to comply with the terms of

One Time Settlement granted to them, the respondent is at

liberty to continue with proceedings under the provisions of the

SARFAESI Act, including taking of physical possession of the

secured asset.

The writ petition is disposed of as above.

Sd/-

GOPINATH P.

JUDGE ajt

APPENDIX OF WP(C) 42220/2022

PETITIONER EXHIBITS Exhibit-P1 A TRUE COPY OF THE NOTICE DATED 11.08.2021. Exhibit-P2 A TRUE COPY O THE NOTICE DATED 15.12.2022. Exhibit-P3 A TRUE COPY OF THE NOTICE DATED 10.12.2022. Exhibit-P4 A TRUE COPY OF THE APPLICATION MADE TO THE RESPONDENT DATED 19.12.2022 ALONG WITH THE POSTAL RECEIPT.