Ignatious Loyola vs Branch Manager
2023 Latest Caselaw 7158 Ker

               IN THE HIGH COURT OF KERALA AT ERNAKULAM
                               PRESENT
                 THE HONOURABLE MR.JUSTICE C.S.DIAS
        FRIDAY, THE 23RD DAY OF JUNE 2023 / 2ND ASHADHA, 1945
                       WP(C) NO. 20556 OF 2023
PETITIONER:

            IGNATIOUS LOYOLA
            AGED 47 YEARS
            S/O JOHNSON MATHIYAS ,THYTHOPPIL HOUSE,
            SAKTHIKULANGARA P O KOLLAM,
            PIN - 691581

            BY ADVS.    V.I.RAHUL
                        SHIFA LATHEEF
                        DEVIKA G.RAJESH


RESPONDENTS:

    1       BRANCH MANAGER
            UNION BANK OF INDIA, KOLLAM CIVIL STATION BRANCH,
            DEVAPRIYA COMPLEX, SCHOOL JUNCTION,KOLLAM,KERALA.,
            PIN - 691009

    2       AUTHORISED OFFICER
            UNION BANK OF INDIA,REGIONAL OFFICE, SECOND
            FLOOR,BSNL TELEPHONE EXCHANGE,CHINNAKADA, KOLLAM, PIN
            - 691001

            BY ADV ASP.KURUP

      THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
23.06.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 W.P.(C)No.20556/2023

                                       -:2:-




                       Dated this the 23rd day of June,2023

                             JUDGMENT

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

respondents to grant the petitioner some more time to

settle the outstanding amount under the One Time

Settlement (OTS) scheme.

2. The petitioner's case is that, he had availed

financial assistance from the first respondent - Bank -

to purchase a fishing boat. Unfortunately, the fishing

boat capsized and the petitioner was unable to pay the

instalments on time. The Bank has now proceeded

against the secured asset of the petitioner under the

Securitisation and Reconstruction of Financial Assets

and Enforcement of Security Interest Act, 2002 (in

short 'SARFAESI Act'). The Bank is threatening to sell

the property. The petitioner is prepared to pay off the

outstanding amount under the OTS scheme. Hence, the

writ petition.

W.P.(C)No.20556/2023

3. Heard; Sri.V.I.Rahul, the learned counsel

appearing for the petitioner and Sri. ASP. Kurup, the

learned counsel appearing for the respondents.

4. Sri. ASP. Kurup, on instructions, submitted

that the Bank has already proceeded under the

SARFAESI Act and the matter stands posted for sale

on 27.06.2023. At this stage, the Bank is not willing to

offer the OTS scheme to the petitioner. The petitioner

may be relegated to exhaust the statutory remedies.

Hence, the writ petition may be dismissed.

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 rendered under the SARFAESI Act,

has categorically declared that High Courts shall not,

unless in extraordinary circumstances, interfere with

proceedings initiated under the SARFAESI Act, in writ

proceedings filed under Article 226 of the Constitution W.P.(C)No.20556/2023

of India.

6. Having considered the pleadings and materials

on record, and after hearing the submissions on either

side, I do not find any extra-ordinary circumstances

made out in the writ petition to exercise the

discretionary powers of this Court under Article 226 of

the Constitution of India to entertain the writ petition.

Nonetheless, it would be up to the petitioner to work

out his statutory remedies as provided under the

SARFAESI Act.

Resultantly, the writ petition is dismissed, without

prejudice to the right of the petitioner to work out his

remedies, in accordance with law.

Sd/-

                                                 C.S.DIAS,JUDGE

DST/23.06.23                                                       //True copy//

                                                                    P.A.To Judge
 W.P.(C)No.20556/2023






                              APPENDIX



PETITIONER EXHIBITS
EXHIBIT P1          TRUE COPY OF THE REGISTRATION CERTIFICATE

OF THE FISHING BOAT MARIYAM DATED 08-06- 2020.

EXHIBIT P2 PHOTOS OF THE BOAT RAMMED INTO ON 18-02-

2021.

EXHIBIT P3 COPY OF THE NEWSPAPER REPORT IN MANORAMA DAILY DATED 19-02-2021

EXHIBIT P4 TRUE COPY OF THE REPRESENTATION SUBMITTED BY THE PETITIONER TO THE RESPONDENT BANK DATED 04-03-2021.

EXHIBIT P5 TRUE COPY OF THE CERTIFICATE ISSUED BY THE ISHO,POOVAR POLICE STATION DATED 02-03-2021 TO THE FISHERIES DEPARTMENT

EXHIBIT P6 TRUE COPY OF THE DEMAND NOTICE ISSUED BY THE RESPONDENT BANK DATED 15-10-2022

EXHIBIT P7 TRUE COPY OF THE SYMBOLIC POSSESSION NOTICE ISSUED BY RESPONDENT BANK DATED 07-02-2023

EXHIBIT P8 TRUE COPY OF THE NOTICE DATED 24-05-2023 ISSUED BY THE RESPONDENT BANK UNDER RULE 8 OF SECURITY INTEREST ENFORCEMENT RULES

RESPONDENT'S EXHIBITS: NIL