K.P.Beena vs South Indian Bank
2023 Latest Caselaw 6101 Ker

                IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                PRESENT
                   THE HONOURABLE MR.JUSTICE C.S.DIAS
        FRIDAY, THE 9TH DAY OF JUNE 2023 / 19TH JYAISHTA, 1945
                        WP(C) NO. 18687 OF 2023
PETITIONER/S:

            K.P.BEENA
            AGED 52 YEARS
            , W/O.P.MURALEEDHARAN, MURALIKA HOUSE, PUTHUKKODY ROAD,
            MANJERI, MALAPPURAM DISTRICT., PIN - 676121

            BY ADVS.
            M.SASINDRAN
            S.SHYAM KUMAR
            SIDHARTH P. SASI



RESPONDENT/S:

    1       SOUTH INDIAN BANK
            SIB HOUSE, T.B.ROAD, MISSION QUARTERS, THRISSUR.
            REPRESENTED BY ITS MANAGING DIRECTOR., PIN - 680001

    2       SOUTH INDIAN BANK
            REGIONAL OFFICE, KOZHIKODE, 1ST FLOOR, HAPPY TOWERS,
            WARD NO. 7, MANANCHIRA, KOZHIKODE, REPRESENTED BY
            AUTHORISED OFFICER/ CHIEF MANAGER., PIN - 673001

    3       THE BRANCH MANAGER
            SOUTH INDIAN BANK, PERINTHALMANNA BRANCH,
            PERINTHALMANNA, MALAPPURAM., PIN - 679322

            SRI.P.A.AUGUSTINE


     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
09.06.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 18687 OF 2023
                             2

                          JUDGMENT

The writ petition is filed, inter-alia, to direct the

respondents to permit the petitioner to avail the One

Time Settlement Scheme and clear off the loan amount.

2. The petitioner's case is that she had availed a

loan from the 1st respondent bank by creating an

equitable mortgage. Due to various reasons, she could

not pay the installments on time. The respondents are

now proceeding against the secured asset under the

Securitization and Reconstruction of Financial Assets

and Enforcement of Security Interest Act, 2002 (in short,

'Act'). The petitioner is prepared to clear off the entire

outstanding amount by availing the One Time Settlement

Scheme. Hence, the writ petition.

3. Heard; Sri. M.Sasindran, the learned Counsel

appearing for the petitioner and Sri.P.A.Augustine, the

learned Counsel appearing for the respondents.

4. Sri.P.A.Augustine, on instructions, submitted that

the respondent is not ready to provide the petitioner the WP(C) NO. 18687 OF 2023

benefit of the One Time Settlement Scheme. The

respondents have already filed OA No.668/2022 before

the Debt Recovery Tribunal, Ernakulam, to recover the

outstanding amount of Rs.15/- Crore. Therefore, this

Court may entertain the writ petition and the petitioner

may be relegated to exhaust her statutory remedies.

5. The Hon'ble Supreme Court in South Indian

Bank Ltd vs. Naveen Mathew Philip (2023 LiveLaw

(SC) 320), after adverting to a myriad of earlier judicial

pronouncements, has categorically declared that High

Courts shall not, unless in extra ordinary circumstances,

interfere with proceedings initiated under the

Securitisation and Reconstruction of Financial Assets

and Enforcement of Security Interest Act, 2002, in writ

proceedings under Article 226 of the Constitution of

India.

6. Having considered the pleadings and materials

on record and taking note of the submission made by the WP(C) NO. 18687 OF 2023

learned Counsel appearing for the respondents,

especially the fact that OA No.668/2022 is already

pending before the Debt Recovery Tribunal, Ernakulam,

I am not inclined to entertain the writ petition by

exercising the extra ordinary powers of this Court under

Article 226 of the Constitution India. Nonetheless, the

petitioner would be at liberty to work out her statutory

remedies.

Resultantly, the writ petition is dismissed, without

prejudice to the right of the petitioner to work out her

remedies in accordance with law.

                                    Sd/-      C.S.DIAS
                                              JUDGE
rkc/09.06.23
 WP(C) NO. 18687 OF 2023


                APPENDIX OF WP(C) 18687/2023

PETITIONER EXHIBITS

Exhibit P1            TRUE COPY OF THE COMPLAINT PREFERRED BY

THE PETITIONER BEFORE THE 2ND RESPONDENT DATED 21.01.2021.

Exhibit P2 TRUE COPY OF THE TENDER CUM AUCTION SALE NOTICE NO.RO-KKD/ACR/TDR/01/2023-24 DATED 26.04.2023 ISSUED BY THE 2ND RESPONDENT .