M/S Pegasus Assets ... vs *M/S Sooryadev Marketers & ...
2023 Latest Caselaw 8870 Ker

               IN THE HIGH COURT OF KERALA AT ERNAKULAM
                               PRESENT
                THE HONOURABLE MR. JUSTICE GOPINATH P.
     MONDAY, THE 14TH DAY OF AUGUST 2023 / 23RD SRAVANA, 1945
                       WP(C) NO. 42714 OF 2022


PETITIONER:

          M/S PEGASUS ASSETS RECONSTRUCTION PVT. LTD.
          55-56, 5TH FLOOR, FREE PRESS HOUSE, NARIMAN POINT
          MUMBAI -, A COMPANY INCORPORATED UNDER THE COMPANIES
          ACT, 1956 AND REGISTERED AS AN ASSET RECONSTRUCTION
          COMPANY IN ACCORDANCE WITH S.3 OF THE SARFAESI ACT AND
          HAVING ITS REGISTERED OFFICE AT 507/DALAMAL HOUSE,
          NARIMAN POINT, MUMBAI REPRESENTED BY ITS AUTHORISED
          OFFICER, MR. P.M. MOHAN, PIN - 400021

          BY ADVS.
          C.A.JOY
          ASHISH MOHAN


RESPONDENTS:

    1     *M/S SOORYADEV MARKETERS & EXPORTERS*DELETED
          19/1172, NEAR CHALAPURAM POST OFFICE, P.O.CHALAPURAM
          KOZHIKODE, PIN - 673002

    2     *SMT.M.NEENA*DELETED
          W/O SRI. PRASHANT KUMAR, MANAGING PARTNER, M/S
          SOORYADEV MARKETERS & EXPORTERS, SUMIPURI,
          PANTHALAYINI, KOYILANDI,KOZHIKODE, PIN - 673305

    3     *SRI.V.K.MANOJ KUMAR*DELETED
          S/O SRI.GOPALAKRISHNAN, PARTNER, M/S SOORYADEV
          MARKETERS & EXPORTERS, VATTAKANDIYIL HOUSE, OPP. KSRTC
          BUS STAND,THAMARASSERY, KOZHIKODE, PIN - 673573

    4     *SMT.SMITHA V.K*DELETED
          W/O SRI.JAYAPRAKASH, VATTAKANDIYIL HOUSE, OPP. KSRTC
          BUS STAND, THAMARASSERY, KOZHIKODE, PIN - 673573

    5     *SRI.PRASANTHKUMAR T.C*DELETED
          S/O SRI PREMANANTHAN, SUMIPURI, PANTHALAYINI,
          KOYILANDI, KOZHIKODE ( **RESPONDENTS 1 TO 5 DELETED
          FROM PARTY ARRAY AS PER ORDER DATED 02/08/2023 IN IA
          2/2023**), PIN - 673305
 W.P (C) No.42714/2022             -2-

      6      THE SUB REGISTRAR
             SUB REGISTRAR OFFICE, THAMARASSERY TOWN, THAMARASSERY,
             KOZHIKODE, PIN - 673573

      7      KHADEEJA FARAH
             AGED 32 YEARS, D/O SHAMSHUDEEN ,MELEKANJIRATHINGAL(H),
             MARYKKUNNU P.O., CHEVAYOOR, KOZHIKODE-, PIN - 673017

      8      SAMEER
             AGED 36 YEARS, S/O MOIDEEN, PULPARAMBIL (H), VIZHUPUR,
             THAMARASSERY, KOZHIKODE, PIN - 673573

             SMT. DEEPA V., GOVT. PLEADER


      THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
14.08.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 W.P (C) No.42714/2022                      -3-

                                  JUDGMENT

The petitioner has approached this court being aggrieved by the fact that a

sale certificate issued by the Recovery officer of the Debts Recovery Tribunal at the

instance of the petitioner is not being permitted to the registered on account of

certain encumbrance noted in the encumbrance certificate.

2. The learned counsel appearing for the petitioner submits that since

encumbrance noted at Sl. Nos.4 and 7 appear on account of two sale deeds executed

after the date of mortgage, the petitioner may be permitted to pursue remedies

before the Recovery officer of the Debts Recovery Tribunal. Reserving any legal

remedy open to the petitioner to challenge the encumbrances mentioned above, this

writ petition is closed, leaving open all contentions of the writ petitioner.

Sd/-

GOPINATH P.

JUDGE

AMG

APPENDIX OF WP(C) 42714/2022

PETITIONER EXHIBITS

Exhibit P1 TRUE COPY OF THE RECOVERY CERTIFICATE DATED 07.10.2017 IN DRC NO. 199/2017 IN OA NO.135/2013 IN THE FILES OF THE DEBT RECOVERY TRIBUNAL-I, ERNAKULAM

Exhibit P2 TRUE COPY OF THE FINAL ORDER DATED 21.09.2017 IN O.A. NO. 135/2013 BY THE DEBT RECOVERY TRIBUNAL-I, ERNAKULAM

Exhibit P3 TRUE COPY OF THE ABOVE ORDER OF INJUNCTION DATED 22.03.2013 IN IA NO. 979/2013 IN OA NO. 135/2013 BY THE DEBT RECOVERY TRIBUNAL-I, ERNAKULAM

Exhibit P4 TRUE COPY OF THE ENCUMBRANCE CERTIFICATE NO. 404/22 DATED 18.01.2022 ISSUED FROM THE OFFICE OF THE 6TH RESPONDENT, S.R.O. THAMARASSERY TOWN