Kerala High Court
M/S Kallada Tours And Travels vs M/S.Csb Limited on 12 April, 2024
Author: N.Nagaresh
Bench: N.Nagaresh
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR.JUSTICE N.NAGARESH
FRIDAY, THE 12TH DAY OF APRIL 2024 / 23RD CHAITHRA, 1946
WP(C) NO. 14423 OF 2024
PETITIONERS:
1 M/S KALLADA TOURS AND TRAVELS,
PROPRIETOR, MR. SURESH KUMAR K.R.,
REG. OFFICE: 14/37,
NEW PARISH HALL SHOPPING COMPLEX,
IRINJALAKUDA, THRISSUR, PIN - 680125
2 SINDHU K.T
AGED 51 YEARS
W/O SURESH KUMAR K.R., KALLADA HOUSE,
HILL ROAD, IRINJALAKUDA NORTH,
THRISSUR, PIN - 680125
3 SINDHU K.T,
PARTNER M/S KALLADA RENAISSANCE, DOOR NO. 5/534,
KALLADA HOUSE, HILL ROAD, IRINJALAKUDA NORTH,
THRISSUR, PIN - 680125
4 SURESH KUMAR.K.R
AGED 56 YEARS
S/O.RAMAKRISHNAN, KALLADA HOUSE, HILL ROAD,
IRINJALAKUDA NORTH, THRISSUR, PIN - 680125
5 M/S. KALLADA RENAISSANCE,
(PARTNERSHIP FIRM) DOOR NO. 5/534,, KALLADA HOUSE, HILL
ROAD, IRINJALAKUDA NORTH,THRISSUR, PIN - 680125
6 SURESH KUMAR.K.R
AGED 56 YEARS
PARTNER, M/S. KALLADA RENAISSANCE,
DOOR NO.5/534, KALLADA HOUSE, HILL ROAD,
IRINJALAKUDA NORTH, THRISSUR,
PIN - 680125
BY ADVS.
G.HARIHARAN
PRAVEEN.H.
K.S.SMITHA
B.R.SINDU
V.R.SANJEEV KUMAR
V.ROHITH
AFNA V.P.
WP(C) No.14423 Of 2024
2
RESPONDENT:
M/S.CSB LIMITED
[FORMERLY THE CATHOLIC SYRIAN BANK LIMITED)
ZONAL OFFICE, THRISSUR, POST BOX NO.502,
ST.MARY'S COLLEGE ROAD,
THRISSUR
REPRESENTED BY ITS REGIONAL MANAGER,
PIN - 680020
SRI.MADHU RADHAKRISHNAN
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR
ADMISSION ON 12.04.2024, THE COURT ON THE SAME DAY
DELIVERED THE FOLLOWING:
WP(C) No.14423 Of 2024
3
JUDGMENT
Dated this the 12th day of April, 2024
The writ petition has been filed seeking the
following reliefs:-
"(i) Issue a writ of mandamus or any other
appropriate writ or order commanding the respondent to
consider and to take follow up action on the request for
OTS proposed by the petitioners as evidenced by the
issuance of Exts.P4 and P5 requests addressed to the
respondent Bank by the petitioners after showing the
names of prospective purchasers.
(ii) Issue a writ of mandamus or any other
appropriate writ or order commanding the respondent to
keep in abeyance all further proceeding pursuant to the
issuance of Ext.P3 notice so as to enable the petitioner
to clear of the loan account within a specified time by
selling the secured asset along with portion of other
properties held by the petitioner."
2. Standing Counsel submits that possession of the
secured asset mortgaged by the petitioner has been taken
over. As the public sale remained unsuccessful, the Bank
has entered into a private sale. The proposed purchaser has
paid substantial amount towards advance for purchasing the
WP(C) No.14423 Of 2024
property of the petitioner.
3. Taking into consideration all the above facts, the
prayer of the petitioner for One Time Settlement cannot be
granted now. If the petitioner has any further grievance
relating to the sale now concluded, the petitioner has to
approach the Debts Recovery Tribunal invoking Section 17
of the Securitisation and Reconstruction of Financial Assets
and Enforcement of Security Interest Act, 2002.
The writ petition is therefore dismissed granting liberty
to the petitioner to approach the Debts Recovery Tribunal, if
the petitioner is so advised.
Sd/-
N.NAGARESH
JUDGE
hmh
WP(C) No.14423 Of 2024
APPENDIX OF WP(C) 14423/2024
PETITIONER EXHIBITS
Exhibit P1 A TRUE COPY OF THE STATEMENT OF
ACCOUNT MAINTAINED BY THE 1ST
PETITIONER WITH THE RESPONDENT BANK
UPTO 31.07.2021
Exhibit P2 A TRUE COPY OF THE STATEMENT OF
ACCOUNT MAINTAINED BY THE 1ST
PETITIONER WITH THE RESPONDENT BANK
UPTO 30.04.2021
Exhibit P3 A TRUE COPY OF THE NOTICE DATED
12.03.2024 PROPOSING TO SELL THE
SECURED ASSETS OF THE PETITIONER
Exhibit P4 A TRUE COPY OF THE REPLY DATED
25.03.2024 SENT BY THE PETITIONER
ADDRESSED TO THE RESPONDENT
Exhibit P5 A TRUE COPY OF THE REQUEST DATED
01.04.2024 MADE BY THE PETITIONER
ADDRESSED TO THE RESPONDENT BANK
