Kerala High Court
Sreeamara Industries Private ... vs The Authorized Officer on 11 January, 2022
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS
TUESDAY, THE 11TH DAY OF JANUARY 2022 / 21ST POUSHA, 1943
WP(C) NO. 18796 OF 2021
PETITIONERS:
1 SREEAMARA INDUSTRIES PRIVATE LIMITED
ABHI NIVAS,
KEEZHATTINGAL PO, KADAKKAVOOR,
THIRUVANANTHAPURAM-695 306
REPRESENTED BY ITS MANAGING DIRECTOR-
ABHILASH MADHAVAN.
2 ABHILASH MADHAVAN
MANAGING DIRECTOR,
SREEAMARA INDUSTRIES PRIVATE LIMITED,
ABHI NIVAS,
KEEZHATTINGAL PO, KADAKKAVOOR,
THIRUVANANTHAPURAM-695 306.
BY ADV P.K.BABU
RESPONDENTS:
1 THE AUTHORIZED OFFICER
DHANALAKSHMI BANK LTD.,
REGIONAL OFFICE, THIRUVANANTHAPURAM,
AMRITHA PLAZA, 2ND FLOOR, TC 30/1398/4,
NALUMMUKKU, PETTAH,
THIRUVANANTHAPURAM-695 024.
2 THE MANAGER
DHANALAKSHMI BANK LIMITED,
CHADAYAMANGALAM BRANCH,
DEVARAGAM BUILDING, NEAR KSRTC BUS STAND,
CHADAYAMANGALAM, KOLLAM-691 534.
BY ADV C.K.KARUNAKARAN
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR
ADMISSION ON 11.01.2022, THE COURT ON THE SAME DAY
DELIVERED THE FOLLOWING:
W.P.(C) No.18796/21 -:2:-
BECHU KURIAN THOMAS, J.
---------------------------------
W.P.(C) No.18796 of 2021
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Dated this the 11th day of January, 2022
JUDGMENT
Petitioners challenge Ext.P1 and Ext.P2 proceedings
initiated under the Securitisation and Reconstruction of Financial
Assets and Enforcement of Security Interest Act, 2002. A further
relief to regularise the cash credit account of the petitioners is
also sought for.
2. On 23.09.2021, this Court directed the petitioners to
deposit an amount of Rs.17 lakhs on or before 30.10.2021 being
one third of the amount due under the Machinery Loan Account
and further directed the recovery proceedings to be kept in
abeyance. However, petitioners failed to remit the amount so
directed. On 05.11.2021, an indulgence was shown by this Court
by granting further time to the petitioners to deposit the amount
till 12.11.2021. In spite of granting such time, petitioners have
not deposited the amount directed in the order dated
23.09.2021.
3. A perusal of the order of this Court on 05.11.2021
shows that there was a specific observation that on failure to pay
the amount so directed, no further indulgence shall be shown
under any circumstances.
4. Learned counsel for the petitioners as well as the
learned counsel for the respondents submit that petitioners have
not complied with the order dated 23.09.2021. In view of the
above, no indulgence can be shown to the petitioners for
granting further time to pay the amount due, as directed in the
order aforesaid.
5. Ext.P1 is a notice issued under section 13(2) of the Act
while Ext.P2 is a possession notice dated 03.08.2021.
Admittedly amounts are due from the petitioners. The
respondents are free to proceed in accordance with law in the
event of failure to pay any amount, after notice under section
13(2) is issued.
In view of the failure on the part of the petitioners to make
any payment as directed, nothing further remains to be
considered in this writ petition. Hence the writ petition stands
dismissed.
Sd/- BECHU KURIAN THOMAS
JUDGE
vps
APPENDIX OF WP(C) 18796/2021
PETITIONER EXHIBITS
Exhibit P1 TRUE COPY OF THE NOTICE U/S.13(2)
SARFAESI ACT DATED 25.5.2021 ISSUED BY
THE RESPONDENT BANK
Exhibit P2 TRUE COPY OF NOTICE DATED 3.8.2021
ISSUED UNDER SEC.13(2) OF THE ACT.
Exhibit P3 TRUE COPY OF THE REPRESENTATION DATED
10.8.2021 SUBMITTED BEFORE THE IST
RESPONDENT.
Exhibit P4 TRUE COPY OF THE MEDICAL CERTIFICATE
ISSUED BY DR.ADARSH SING.AS, BAVA
HOSPITAL, ATTINGAL ON 16/9/2021
RESPONDENT'S/S' EXHIBITS
Annexure R1(a) TRUE COPY OF THE LETTER DATED 10.08.2021
OF THE 1ST RESPONDENT TOGETHER WITH THE
POSTAL ENVELOP IN WHICH IT WAS RECEIVED
