Kerala High Court
M/S. Fotton Paints Pvt Ltd vs The Authorized Officer on 7 July, 2023
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR.JUSTICE C.S.DIAS
FRIDAY, THE 7TH DAY OF JULY 2023 / 16TH ASHADHA, 1945
WP(C) NO. 17202 OF 2021
PETITIONERS:
1 PRASAD.M.S
AGED 54 YEARS
(MANAGING DIRECTOR, M/S. FOTTON PAINTS PVT.LTD),
KRISHNA NIVAS, KODIMATHA P.O, KOTTAYAM, KERALA,
PIN CODE - 686013.
2 FOTTON PAINTS PVT.LTD
REPRESENTED BY ITS MANAGING DIRECTOR, 6/225 A,
THARAPPEL BUILDINGS, VATTUKALAM P.O, KADAPPOORU,
KOTTAYAM, KERALA - 686587.
BY ADV M.SASINDRAN
RESPONDENTS:
1 DEPT. OF FINANCIAL SERVICES OF THE MINISTRY OF
FINANCE
GOVERNMENT OF INDIA, REPRESENTED BY SECRETARY TO
THE MINISTRY OF FINANCE, JEEVAN DEEP BUILDING,
NORTH BLOCK, NEW DELHI, PIN - 110001.
2 RESERVE BANK OF INDIA
REPRESENTED BY THE GENERAL MANAGER, REGIONAL
OFFICE FOR THE STATE OF KERALA TO RBI, BAKERY
JUNCTION, PB NO. 6507, THIRUVANANTHAPURAM, PIN -
695033.
3 THE SOUTH INDIAN BANK LTD
REPRESENTED BY ITS CHAIRMAN,REGD. OFFICE, 'SIB
HOUSE', TB ROAD, MISSION QUARTERS, THRISSUR,
KERALA STATE, PIN - 680001.
4 THE CHIEF MANAGER
REGIONAL OFFICE, THE SOUTH INDIAN BANK LTD,
REGENCY SQUARE, K.K. ROAD, COLLECTORATE P.O,
KOTTAYAM, PIN - 686002.
5 THE SOUTH INDIAN BANK LTD
KOTTAYAM MAIN BRANCH, REPRESENTED BY THE MANAGER,
CATHOLIC CENTRE, CENTRAL JUNCTION, KOTTAYAM, PIN
- 686001.
WP(C) NO. 17202/2021 & 21031/2022
2
6 THE DISTRICT INDUSTRIES CENTRE
KOTTAYAM, DEPARTMENT OF INDUSTRIES, GOVERNMENT OF
KERALA, REPRESENTED BY PRINCIPAL SECRETARY TO
DEPARTMENT OF INDUSTRIES, GOVERNMENT SECRETARIAT,
THIRUVANANTHAPURAM, PIN CODE - 695001.
SUNIL SHANKER
Farha Mather
SHRI.A.K.HARIDAS, CGC
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR
ADMISSION ON 07.07.2023, ALONG WITH WP(C)21031/2022, THE
COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WP(C) NO. 17202/2021 & 21031/2022
3
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR.JUSTICE C.S.DIAS
FRIDAY, THE 7TH DAY OF JULY 2023 / 16TH ASHADHA, 1945
WP(C) NO. 21031 OF 2022
PETITIONERS:
1 FOTTON PAINTS
M/S. FOTTON PAINTS PVT LTD., 6/225 A,THARAPPEL
BUILDING, KADAPPOORU, VATTUKULAM P.O, KOTTAYAM,
REPRESENTED BY ITS MANAGING DIRECTOR, M.S
PRASAD., PIN - 686587
2 M.S PRASAD
AGED 54 YEARS
S/O. SIVARAMAN NAIR, KRISHNA NIVAS, NATTAKOM,
KODIMATHA P.O, KOTTAYAM., PIN - 686039
3 RAJESH T.G
AGED 44 YEARS
S/O. RAVEENDRAN NAIR, ELAKKAD, VATTUKULAM P.O,
KOTTAYAMM., PIN - 686013
4 GOPINATHAN NAIR @ RAVINDRAN NAIR
AGED 80 YEARS
S/O. VELAYUDAN NAIR, THARAPPEL HOUSE, KANAKKARI,
VATTUKULAM P.O, KOTTAYAM, PIN - 686587
BY ADV M.SASINDRAN
RESPONDENTS:
1 THE AUTHORIZED OFFICER
SOUTH INDIAN BANK, REGIONAL OFFICE KOTTAYAM, 1ST
FLOOR, REGENCY SQUARE, COLLECTORATE P.O,
KOTTAYAM., PIN - 686002
2 SOUTH INDIAN BANK
KOTTAYAM MAIN BRANCH, CATHOLIC CENTRE, CENTRAL
JUNCTION, KOTTAYAM REPRESENTED BY ITS MANAGER.,
PIN - 686001
WP(C) NO. 17202/2021 & 21031/2022
4
BY ADVS.
SRI.GEORGE VARGHESE,SC,SOUTH INDIAN BAN
Sunil Shankar A
VIDYA GANGADHARAN(K/000424/2020)
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR
ADMISSION ON 07.07.2023, ALONG WITH WP(C)17202/2021, THE
COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WP(C) NO. 17202/2021 & 21031/2022
5
JUDGMENT
[WP(C) Nos.17202/2021, 21031/2022]
In view of the Memo dated 19.7.2023 filed by the
petitioners, the writ petitions are dismissed as not
pressed.
Sd/- C.S.DIAS, JUDGE
ma/7.7.2023
WP(C) NO. 17202/2021 & 21031/2022
APPENDIX OF WP(C) 21031/2022
PETITIONER EXHIBITS
Exhibit-P1 TRUE COPY OF NOTICE
NO.KTYM/RO/SARFAESI/12/2122 DATED
19/5/21 U/S 13(2) OF SARFAESI ACT 2002
ISSUED BY 1ST RESPONDENT TO THE
PETITIONERS
Exhibit-P2 TRUE COPY OF THE REPLY LETTER DATED
12/7/21 SENT TO 3RD RESPONDENT BY THE
PETITIONERS
Exhibit-P3 TRUE COPY OF GURANTEE INVOCATION LETTER
NO.BR/SAR/23/2021-22 DATED 22/4/21 SENT
BY THE BRANCH MANAGER OF 2ND RESPONDENT
BANK TO THE 4TH PETITIONER
Exhibit-P4 TRUE COPY OF RECALL NOTICE
NO.BR/SAR/14/2021-22 DATED 22/4/21 SENT
BY 2ND RESPONDENT BANK TO THE 1ST
PETITIONER COMPANY
Exhibit-P5 TRUE COPY OF NOTICE
NO.RO/KTM.RED.12.22-23 DATED 31/5/22
U/S 13(8) OF SARFAESI ACT 2002R/W RULE
8(6) OF SECURITY INTEREST (ENFORCEMENT)
RULES,2002 ISSUED BY 1ST RESPONDENT TO
1ST PETITIONER COMPANY
Exhibit-P6 TRUE COPY OF REPLY LETTER DATED 20/6/22
SENT TO 1ST RESPONDENT BY 1ST
PETITIONER COMPANY
Exhibit P7 A TRUE COPY OF THE BANK STATEMENTS OF
THE PETITIONER
Exhibit P8 A TRUE COPY OF THE LETTER ISSUED BY THE
KERALA FINANCIAL CORPORATION
Exhibit P9 A TRUE COPY OF THE NOTICE ISSUED BY THE
ADVOCATE COMMISSIONER
WP(C) NO. 17202/2021 & 21031/2022
APPENDIX OF WP(C) 17202/2021
PETITIONER EXHIBITS
Exhibit P1 TRUE COPY OF THE CERTIFICATE OF
REGISTRATION OF THE 2ND PETITIONER
COMPANY, DATED 13.09.2017 ISSUED FROM
THE CENTRAL REGISTRATION CENTRE BY THE
REGISTRAR OF COMPANIES.
Exhibit P2 TRUE COPY OF THE UDYAM REGISTRATION
CERTIFICATE', DATED 13.09.2017, ISSUED
BY THE MINISTRY OF MICRO, SMALL AND
MEDIUM ENTERPRISE, GOVERNMENT OF INDIA
THOUGH ON-LINE, AND DOWN LOADED FROM
INTERNET.
Exhibit P3 TRUE COPY OF THE CERTIFICATE OF
IMPORTER - EXPORTER CODE (IEC) ISSUED
FROM THE OFFICE OF JOINT DIRECTOR
GENERAL OF FOREIGN TRADE, MINISTRY OF
COMMERCE AND INDUSTRY, GOVERNMENT OF
INDIA.
Exhibit P4 TRUE COPY OF THE BROCHURE, ISSUED BY
THE 2ND PETITIONER COMPANY.
Exhibit P5 TRUE COPY OF THE LETTER DATED
29.03.2018, ISSUED FROM THE 5TH
RESPONDENT BANK, INTIMATING SANCTIONING
OF CASH CREDIT FACILITY (CCOL) TO THE
2ND PETITIONER COMPANY.
Exhibit P6 TRUE COPY OF THE EXTRACT FROM NOTES TO
FINANCIAL STATEMENTS, PERTAINING TO THE
2ND PETITIONER COMPANY, FOR THE PERIOD
ENDED 31.03.2020.
Exhibit P7 TRUE COPY OF THE CIRCULAR ON COVID -19
REGULATORY PACKAGE DATED 27TH MARCH,
2020, ISSUED BY THE RESERVE BANK OF
INDIA, DOWNLOADED FROM THE RBI WEBSITE.
Exhibit P8 TRUE COPY OF THE CIRCULAR ON COVID -19,
REGULATORY PACKAGE DATED 23RD MAY,
2020, ISSUED BY THE RESERVE BANK OF
WP(C) NO. 17202/2021 & 21031/2022
INDIA, DOWNLOADED FROM THE RBI WEBSITE.
Exhibit P9 TRUE COPY OF THE INTIMATION LETTER
DATED 27.08.2020 ISSUED BY THE BRANCH
MANAGER OF THE 5TH RESPONDENT BANK,
REGARDING SANCTIONING OF CCOL FACILITY.
Exhibit P10 TRUE COPY OF THE PRESS RELEASE PAGE OF
PIB DELHI, REGARDING THE ECLG SCHEME,
AS DOWNLOADED FROM INTERNET.
Exhibit P11 TRUE COPY OF THE LETTER OF REQUEST
DATED 25.05.2020 MADE BY THE MANAGING
DIRECTOR OF THE COMPANY, TO THE MANAGER
OF THE 5TH RESPONDENT BANK.
Exhibit P12 TRUE COPY OF THE APPLICATION CUM
DECLARATION TO BE OBTAINED FOR AVAILING
EMERGENCY CREDIT LINE GUARANTEE SCHEME,
DATED 6.06.2020, SUBMITTED ON BEHALF OF
THE 2ND PETITIONER COMPANY BEFORE THE
BRANCH HEAD OF THE 5TH RESPONDENT BANK.
Exhibit P13 TRUE COPY OF THE RESOLUTION GRANTING
CONSENT OF THE BOARD OF DIRECTORS, FOR
AVAILING BENEFIT UNDER THE ECLG SCHEME,
HELD ON 06.06.2020.
Exhibit P14 TRUE COPY OF THE LETTER OF
CLARIFICATION DATED 30.07.2020, ISSUED
BY MR. RAJESH T.G. DIRECTOR OF THE 2ND
PETITIONER COMPANY, ADDRESSED TO THE
ASSISTANT MANAGER OF THE 5TH RESPONDENT
BANK.
Exhibit P15 TRUE COPY OF THE RBI NOTIFICATION NO.
RBI/2019-20/255 DOR. BP.BC.NO.
76/21.06.201/2019-20 DATED 21.06.2020
DOWN LOADED FROM THE WEB SITE OF RBI.
Exhibit P16 TRUE COPY OF THE COMMUNICATION DATED
12.11.2020 SENT TO THE 5TH RESPONDENT
BANK ON BEHALF OF THE 2ND PETITIONER
COMPANY.
Exhibit P17 TRUE COPY OF THE DOWN LOADED E-MAIL
COMMUNICATION DATED 17.03.2021 SENT TO
WP(C) NO. 17202/2021 & 21031/2022
THE 5TH RESPONDENT BANK BY MR. RAJESH
T.G, DIRECTOR OF THE 2ND PETITIONER
COMPANY.
Exhibit P18 TRUE COPY OF THE LETTER DATED
05.04.2021 ISSUED BY THE BRANCH MANAGER
OF THE 5TH RESPONDENT BANK TO THE 2ND
PETITIONER COMPANY.
Exhibit P19 TRUE EXTRACTS FROM THE POLICY DOCUMENT
FOR KOTAK E-TERM PLAN ADDRESSED TO THE
1ST PETITIONER, WHICH SHOWS TOTAL
INSTALLMENT PREMIUM AS RS. 37,752.00/-
Exhibit P20 TRUE EXTRACTS FROM THE POLICY DOCUMENT
FOR KOTAK E-TERM PLAN, ADDRESSED TO THE
1ST PETITIONER, WHICH SHOWS 'TOTAL
INSTALLMENT PREMIUM" OF R.S 56,513.00/-
Exhibit P21 TRUE COPY OF THE CIRCULAR DATED
06.08.2020, ISSUED BY THE RBI BEARING
NO. RBI/2020-21/20 DOR.NO. BP.BC/7/21-
04-048/2020-21 DOWNLOADED FROM THE RBI
WEBSITE.
Exhibit P22 TRUE COPY OF THE LETTER DATED
09.11.2020 ISSUED FROM THE 5TH
RESPONDENT BANK, INTIMATING RENEWAL OF
THE CREDIT FACILITIES SANCTIONED TO THE
2ND PETITIONER COMPANY.
Exhibit P23 TRUE COPY OF THE LETTER DATED
18.11.2020 ISSUED FROM THE 5TH
RESPONDENT BANK, TO THE DIRECTORS OF
THE 2ND PETITIONER COMPANY.
Exhibit P24 TRUE COPY OF THE REGISTERED NOTICE
DATED 22.04.2021 ISSUED FROM THE 5TH
RESPONDENT BANK TOT HE 2ND PETITIONER
COMPANY.
Exhibit P25 TRUE COPY OF A GUARANTEE INVOCATION
LETTER DATED 22.04.2021, ISSUED FROM
THE 5TH RESPONDENT BANK TO THE ONE OF
THE GUARANTORS OF THE 2ND PETITIONER
COMPANY.
WP(C) NO. 17202/2021 & 21031/2022
Exhibit P26 TRUE COPY OF THE STATUTORY NOTICE DATED
19.05.2021, U/S 13(2) OF THE SERFAESI
ACT 2002, ISSUED TO THE 2ND PETITIONER
COMPANY.
Exhibit P27 TRUE COPY OF THE LETTER OF REPLY DATED
12.07.2021 SENT TO THE 4TH RESPONDENT,
IN REGISTERED POST WITH ACKNOWLEDGMENT
CARD.
Exhibit P28 TRUE COPY OF THE RECEIPT FOR POSTAL
REGISTRATION OF EXHIBIT P27.
Exhibit P29 TRUE COPY OF THE ACKNOWLEDGMENT CARD
RETURNED TO AND RECEIVED BY THE 1ST
PETITIONER MANAGING DIRECTOR, OF THE
2ND PETITIONER COMPANY WITH RESPECT TO
EXHIBIT P27.
Exhibit P30 TRUE COPY OF THE APPLICATION DATED
05.07.2021 SUBMITTED BY MANAGING
DIRECTOR OF THE 2ND PETITIONER COMPANY
TO THE 5TH RESPONDENT.
Exhibit P31 TRUE COPY OF THE REPRESENTATION DATED
15.07.2021, SUBMITTED TO THE 1ST
RESPONDENT.
Exhibit P32 TRUE COPY OF THE POSTAL RECEIPT WITH
RESPECT TO EXHIBIT P31.
Exhibit P33 TRUE COPY OF THE REPRESENTATION DATED
15.07.2021 SUBMITTED TO THE 2ND
RESPONDENT, RBI.
Exhibit P34 TRUE COPY OF THE POSTAL RECEIPT WITH
RESPECT TO EXHIBIT P33.
Exhibit P35 TRUE COPY OF THE CIRCULAR DATED
04.08.2021 ISSUED BY THE RBI ADDRESSED
TO ALL SCHEDULED COMMERCIAL BANKS AND
ALL PAYMENT BANKS, DOWNLOADED FROM RBI
WEB SITE.
Exhibit P36 TRUE COPY OF THE RBI CIRCULAR DATED
05.05.2021, DOWNLOADED FROM RBI WEB
WP(C) NO. 17202/2021 & 21031/2022
SITE.
Exhibit P37 TRUE COPY OF THE RBI CIRCULAR DATED
07.07.2021, DOWNLOADED FROM RBI WEB
SITE.
Exhibit P38 TRUE COPY OF THE REPRESENTATION
SUBMITTED TO THE HONOURABLE MINISTER
FOR INDUSTRIES, GOVERNMENT OF KERALA,
THROUGH E-MAIL, DOWNLOADED FROM
INTERNET.
Exhibit P39 TRUE COPY OF THE NOTICE DATED 7.1.2022
ISSUED BY THE 4TH RESPONDENT TO THE 2ND
PETITIONER, UNDER SECTION 13(2) OF THE
SARFAESI ACT,2002
Exhibit P40 TRUE COPY OF THE REPLY DATED 4.3.2022,
SENT BY THE 1ST PETITIONER ON BEHALF OF
THE 2ND PETITIONER, TO THE NOTICE DATED
7.1.2022, ISSUED BY THE 4TH RESPONDENT
Exhibit P41 TRUE COPY OF THE RECEIPT FOR POSTAL
REGISTRATION OF EXT P-40
Exhibit P42 TRUE COPY OF THE LETTER DATED
18.3.2022, SENT BY THE 4TH RESPONDENT
IN RESPONSE TO THE REPLY SENT BY THE
COMPANY, ITS DIRECTOR/ GUARANTORS
Exhibit P43 TRUE COPY OF THE REPLY DATED 28.3.2022
TO THE LETTER DATED 18.3.2022, SENT BY
THE 4TH RESPONDENT
Exhibit P44 TRUE COPY OF THE RECEIPT FOR POSTAL
REGISTRATION ON EXT P43
Exhibit P45 TRUE COPY OF THE STATUTORY POSSESSION
NOTICE REGARDING THE IMMOVABLE SECURED
ASSETS, UNDER RULE 8(1) OF THE SECURITY
INTEREST (ENFORCEMENT) RULES, 2002 DTD.
10/05/2022
Exhibit P46 TRUE COPY OF THE STATUTORY NOTICE DATED
31/05/2022, ISSUED BY THE 4TH
RESPONDENT TO THE 1ST AND 2ND
WP(C) NO. 17202/2021 & 21031/2022
PETITIONERS.
Exhibit P47 TRUE COPY OF THE LETTER DATED
07/09/2021 ISSUED FROM THE FACULTY
MANAGEMENT GROUP- CUSTOMER RELATIONS,
OF THE 3RD RESPONDENT.
Exhibit P48 TRUE COPY OF THE REPLY DATED 08/10/2021
OF THE 1ST PETITIONER TO EXT.P47.
Exhibit P49 TRUE COPY OF THE RESOLUTION OF
ACCEPTANCE PASSED ON 09/11/2020 BY THE
DIRECTOR BOARD OF THE 2ND PETITIONER
COMPANY.
Exhibit P50 TRUE COPY OF THE LETTER DATED 2807/2021
RECEIVED BY THE 1ST PETITIONER FROM THE
2ND RESPONDENT.
Exhibit P51 TRUE COPY OF THE LETTER DATED
02/08/2021 RECEIVED BY THE 1ST
PETITIONER FROM THE 2ND RESPONDENT.
Exhibit P52 TRUE COPY OF THE REPRESENTATION DATED
26/03/2022 PREFERRED BY THE 1ST
PETITIONER TO THE 1ST RESPONDENT.
Exhibit P53 TRUE COPY OF THE REPRESENTATION DATED
26/03/2022 PREFERRED BY THE 1ST
PETITIONER TO THE 2ND RESPONDENT.
