Vinod Sivasankar vs Dewan Housing Finance ...
2023 Latest Caselaw 114 Ker

                IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                    PRESENT
                 THE HONOURABLE MR. JUSTICE GOPINATH P.
       FRIDAY, THE 6TH DAY OF JANUARY 2023 / 16TH POUSHA, 1944
                          WP(C) NO. 39796 OF 2022
 AGAINST THE ORDER/JUDGMENTMC 392/2019 OF CHIEF JUDL.MAGISTRATE,
                                 ERNAKULAM
PETITIONER/S:
     1     VINOD SIVASANKAR,AGED 50 YEARS
           S/O M.K. SHIVASANKARAN NAIR, MERRA-38A, KUTTIKKATTU
           HOUSE, PONNICHIRA ROAD, CENTRAL PARK LANE, ELAMAKKARA,
           ERNAKULAM -, PIN - 682024
     2     BINDU VINOD, AGED 45 YEARS, W/O VINOD SIVASANKAR,
           MERRA-38A, KUTTIKKATTU HOUSE, PONNICHIRA ROAD,
           CENTRAL PARK LANE, ELAMAKKARA, ERNAKULAM , PIN - 682024
           BY ADVS.
           NANDAGOPAL S.KURUP
           ABHIRAM T.K.


RESPONDENT/S:
     1     DEWAN HOUSING FINANCE CORPORATION LIMITED,
           A COMPANY INCORPORATED UNDER THE COMPANIES ACT, 1956,
           HAVING ITS REGISTERED OFFICE AT WARDEN HOUSE, 2ND
           FLOOR, SIR P.M. ROAD, FORT, MUMBAI- 400001 AND BRANCH
           OFFICE AT FIRST FLOOR, K M M BUILDING, PALARIVATTOM,
           COCHIN - 682025, PIN - 682025
     2     AUTHORISED OFFICER
           DEWAN HOUSING FINANCE CORPORATION LIMITED, A COMPANY
           INCORPORATED UNDER THE COMPANIES ACT, 1956, HAVING ITS
           REGISTERED OFFICE AT WARDEN HOUSE, 2ND FLOOR, SIR P.M.
           ROAD, FORT, MUMBAI- 400001 AND BRACH OFFICE AT FIRST
           FLOOR, K M M BUILDING, PALARIVATTOM, COCHIN -682025,
           PIN - 682025
     3     DEWAN HOUSING FINANCE CORPORATION LIMITED
           A COMPANY INCORPORATED UNDER THE COMPANIES ACT, 1956,
           HAVING ITS REGISTERED OFFICE AT WARDEN HOUSE, 2ND
           FLOOR, SIR P.M. ROAD, FORT, MUMBAI- 400001 AND BRACH
           OFFICE AT FIRST FLOOR, K M M BUILDING, PALARIVATTOM,
           COCHIN - , REPRESENTED BY ITS AUTHORIZED OFFICER, MR.
           RAKESH DAWNY KOKKATTU., PIN - 682025


              ADV. DENU JOSEPH (SC)
THIS   WRIT    PETITION   (CIVIL)   HAVING    COME   UP   FOR   ADMISSION   ON
06.01.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 39796 OF 2022              2




                               JUDGMENT

This writ petition has been filed, challenging the

proceedings initiated against the petitioners under the

provisions of the SARFAESI Act.

2. This Court had, on 08.12.2022, stayed the

proceedings initiated for taking of physical possession of the

secured asset on condition that the petitioners pay a sum of

Rs.5,00,000/- (Rupees Five lakhs only) towards the loan

liability on or before 28.12.2022.

3. When this matter is taken up for consideration

today, learned counsel appearing for the petitioners would

submit that the petitioner could not comply with the condition

and therefore, the petitioners may be permitted to challenge

the proceedings before the Debts Recovery Tribunal.

4. Having regard to the fact that the petitioners have

not shown any bona fides, entitling them to any order under

Article 226 of the Constitution of India (in matters arising

under the SARFAESI Act) this writ petition is closed. It is

made clear that if the petitioners have any remedies before

the Debts Recovery tribunal, it will be open to the petitioners

to avail such remedies.

The writ petition is disposed of as above.

sd/-

GOPINATH P.

JUDGE ajt

APPENDIX OF WP(C) 39796/2022

PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE NOTICE DATED 21.11.2017 UNDER S.13(2) OF THE SARFEASI ACT ISSUED BY THE RESPONDENT TO THE PETITIONER Exhibit2 TRUE COPY OF THE APPLICATION NUMBERED M.C NO.

392/2019 ON THE FILES OF THE CHIEF JUDICIAL MAGISTRATE COURT, ERNAKULAM