Saju P.P vs M/S. Muthoot Vehicle & Asset ...
2022 Latest Caselaw 7458 Ker

               IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                PRESENT
                 THE HONOURABLE MR. JUSTICE GOPINATH P.
        FRIDAY, THE 24TH DAY OF JUNE 2022 / 3RD ASHADHA, 1944
                        WP(C) NO. 20513 OF 2022
PETITIONERS:

    1      SAJU P.P.
           AGED 58 YEARS,
           S/O.PAILY, POLAYIL HOUSE, PERINGOLE KARA,
           KINGINIMATTAM, KOLENCHERY P.O.,
           ERNAKULAM DISTRICT - 682 311.

    2      ALLEY SAJNU
           W/O.SAJU,POLAYIL HOUSE, PERINGOLE KARA,
           KINGINIMATTAM, KOLENCHERY P.O.,
           ERNAKULAM DISTRICT - 682 311.

           BY ADVS.    K.G.CLEETUS
                       N.V.PAUL



RESPONDENT:

           M/S. MUTHOOT VEHICLE & ASSET FINANCE LTD.,
           REGISTERED OFFICE AT MUTHOOT CHAMBERS,
           KURIAN TOWERS, BANERJI ROAD, COCHIN - 682 018,
           AND CORPORATE OFFICE AT 5TH AND 6TH FLOOR,
           MIDUN TOWERS, K.P.VALLON ROAD,KADAVANTHARA,
           COCHIN - 682 020, REPRESENTED BY ITS AUTHORIZED
           OFFICER/CHIEF MANAGER.
OTHER PRESENT:

           SRI. SHIJU VARGHESE (SC)



     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
24.06.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 W.P(C).No.20513/2022                 2




                         JUDGMENT

The petitioners have approached this Court challenging

proceedings initiated against the petitioners under the

provisions of Securitisation and Reconstruction of Financial

Assets and Enforcement of Security Interest Act (SARFAESI

Act). The petitioners state that the present proceedings

initiated by the respondent are clearly barred especially

taking into consideration Ext.P12 Division Bench judgment

of this Court and also taking into consideration the fact that

the debt is clearly a time barred debt, even if it is accepted

for a moment that a mortgage was created in the year 2009.

It is also submitted that the petitioners have not created any

mortgage by deposit of title deeds and reference is made in

this regard to Ext.P1.

2. Having regard to the nature of contentions raised

in this writ petition, I am of the opinion that it is for

petitioners to approach Debts Recovery Tribunal though a

duly constituted Securitisation Application as disputed

questions of fact are involved. To enable the petitioners to

approach the Tribunal and obtain suitable reliefs, the taking

of physical possession of any secured asset shall be deferred

by a period of 1 month. I make it clear that the tribunal

may consider the matter in accordance with law and

untrammelled by any observation by this Court.

Sd/-

GOPINATH P.

JUDGE

ats

APPENDIX OF WP(C) 20513/2022

PETITIONER EXHIBITS

EXHIBIT P1 TRUE COPY OF THE HYPOTHECATION AGREEMENT DATED 12.5.2009 EXECUTED BETWEEN THE PETITIONERS AND THE RESPONDENT.

EXHIBIT P2 TRUE COPY OF THE REGISTRATION CERTIFICATE ISSUED BY THE REGIONAL TRANSPORT OFFICER, MUVATTUPUZHA WITH RESPECT TO VEHICLE NO.KI40B9525.

EXHIBIT P3 TRUE COPY OF THE O.P. (ARB) NO.

1777/2009 DATED 30.11.2009 ON THE FILE OF HON'BLE DISTRICT COURT, ERNAKULAM.

EXHIBIT P4 TRUE COPY OF THE JUDGMENT DATED 23.3.2012 IN S.T. NO.3560/2010 OF THE HON'BLE JUDICIAL FIRST CLASS MAGISTRATE COURT, KOLENCHERY.

EXHIBIT P5 TRUE COPY OF THE O.P. (ARB) NO.75/2011 DATED 6.1.2011 ON THE FILES OF THE HON'BLE DISTRICT COURT, ERNAKULAM.

EXHIBIT P6 TRUE COPY OF THE I.A. NO.360/2011 IN O.P. (ARB) NO.75/2011 DATED 6.1.2011 ON THE FILE OF DISTRICT COURT, ERNAKULAM.

EXHIBIT P7 TRUE COPY OF THE ORDER DATED 31.7.2012 IN I.A. NO.360/2011 BY THE DISTRICT COURT, ERNAKULAM LIFTING THE ATTACHMENT.

EXHIBIT P8 TRUE COPY OF THE SALE DEED NO.2233/2013 OF S.R.O., PUTHENCRUIZ DATED 11.4.2013.

EXHIBIT P9 TRUE COPY OF THE NOTICE DATED 28.5.2012 IN E.P. NO.75/2012 ON THE FILE OF DISTRICT COURT, ERNAKULAM.

EXHIBIT P10 TRUE COPY OF THE ARBITRATION AWARD DATED 11.8.2011 IN O.P. (ARB) NO.564/2012 OF THE DISTRICT COURT, ERNAKULAM.

EXHIBIT P11 TRUE COPY OF THE JUDGMENT DATED 19.10.2013 IN O.P. (ARB) NO.564/2012 OF THE DISTRICT COURT, ERNAKULAM.

EXHIBIT P12 TRUE COPY OF THE JUDGMENT DATED 31.7.2015 IN ARB.APPEAL NO.11/2014 OF THIS HON'BLE COURT.

EXHIBIT P13 TRUE COPY OF THE NOTICE DATED 30.4.2021 ISSUED BY RESPONDENT TO THE PETITIONERS.

EXHIBIT P14 TRUE COPY OF THE REPLY NOTICE DATED 29.6.2021 ISSUED BY PETITIONERS TO THE RESPONDENT.

EXHIBIT P15 TRUE COPY OF THE REPLY DATED 14.7.2021 SENT BY RESPONDENT TO PETITIONER'S ADVOCATE.

EXHIBIT P16 TRUE COPY OF THE POSSESSION NOTICE DATED 16.8.2021 ISSUED BY THE AUTHORIZED OFFICER OF THE RESPONDENT COMPANY.

EXHIBIT P17 TRUE COPY OF THE M.C. NO.300/2021 ON THE FILE OF ADDL. CHIEF JUDICIAL MAGISTRATE SPECIAL COURT (FOR CASES RELATED TO MPS/MLAS), ERNAKULAM DATED 20.9.2021.

EXHIBIT P18 TRUE COPY OF THE OBJECTIONS DATED 24.11.2021 FILED IN M.C. NO.300/2021 ON THE FILE OF CHIEF JUDICIAL MAGISTRATE COURT, ERNAKULAM.

EXHIBIT P19 TRUE COPY OF THE ORDER DATED 19.1.2022 IN M.C. NO.300/2021 OF ADDL. CHIEF JUDICIAL MAGISTRATE SPECIAL COURT (FOR CASES RELATED TO MPS/MLAS), ERNAKULAM.