Kerala High Court
K.M.Sebastine vs State Bank Of India on 20 February, 2024
Author: N. Nagaresh
Bench: N.Nagaresh
WP(C) No.24265/2023 1/4 Order Date : 20-02-2024
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR.JUSTICE N.NAGARESH
Tuesday, the 20th day of February 2024 / 1st Phalguna, 1945
WP(C) NO. 24265 OF 2023
PETITIONER:
K.M.SEBASTINE, AGED 58 YEARS, S/O.K.T.MICHAEL (LATE), SUSPENDED
DIRECTOR, M.S. SCHIFFLIES INDIA LTD, PLOT NO.244, DEVELOPMENT PLOTS,
KALAMASSERY, KOCHI, RESIDING AT 27, ALEXANDER GARDENS, SOUTH
KALAMASSERY, KDPIA POST, KOCHI 683104, PIN - 683109.
RESPONDENTs:
1. STATE BANK OF INDIA, STRESSED ASSETS MANAGEMENT BRANCH 1, 12TH
FLOOR, JAWAHAR VYAPAR BHAVAN, STC BUILDING, 1 TOLSTOY MAR, JANPATH,
NEW DELHI, REPRESENTED BY ITS DEPUTY MANAGER, PIN - 110001.
2. THE WILFUL DEFAULTER REVIEW COMMITTEE, REPRESENTEDBY ITS CHAIRMAN,
STATE BANK OF INDIA, WILFUL DEFAULTER IDENTIFICATION COMMITTEE - II,
CORPORATE CENTRE, MUMBAI, PIN - 400021.
3. SANJEEV CHAUDHARY, INSOLVENCY PROFESSIONAL, ADVOCATE, REGN. NO.
IBBI/IPA-001-IP/P/01892/2019-20/12911, 204, RAJKAMAL APARTMENT,
127-128, KAILASH VIHAR, CITY CENTRE, GWALIOR, PIN - 474011.
4. COMMITTEE OF CREDITORS OF SCHIFFLIES INDIA LTD (IN CIRP), (CINU;U
74899 DL1999 PLC101189) UNDER CORPORATE INSOLVENCY RESOLUTION
PROCESS, AT STATE BANK OF INDIA, SAM BRANCH, 12TH FLOOR, JAWAHAR
VYAPAR BHAVAN, STC BUILDING, 1 TOLSTOY MARG, JANPATH, NEW DELHI, PIN
- 110001.
5. WILFUL DEFAULTER IDENTIFICATION COMMITTEE-II. REPRESENTED BY ITS
CHAIRMAN, STATE BANK OF INDIA, CORPORATE CENTRE, MUMBAI, PIN -
400021.
Writ Petition (Civil) praying inter alia that in the circumstances
stated in the affidavit filed along with the WP(C) the High Court be
pleased to pass an interim order directing the respondents to refrain from
finalising the resolution plans by conducting auction by Swiss Challenge
Mode as mentioned in Ext.P22, pending disposal of the above Writ Petition
(Civil).
This petition again coming on for orders upon perusing the petition
and the affidavit filed in support of WP(C) and this Court's order dated
20/11/2023 and upon hearing the arguments of SRI.R.RAMADAS Advocates for
the petitioner and of M/S.GEORGE THOMAS (MEVADA) (SENIOR) & AMAL
GEORGE, Advocates for R1, R2 & R5, the court passed the following:
WP(C) No.24265/2023 2/4 Order Date : 20-02-2024
N. NAGARESH, J.
----------------------------
W.P. (C) Nos.17730 and 24265 of 2023
--------------------------------------------------
Dated this the 20th day of February, 2024
ORDER
Interim order is extended by one month.
Post on 07.03.2024.
Sd/-
N. NAGARESH
JUDGE
AMR
WP(C) No.24265/2023 3/4 Order Date : 20-02-2024
APPENDIX OF WP(C) 24265/2023
Exhibit P1 TRUE COPY OF THE NOTICE DATED 19.02.2021FROM THE 1ST
RESPONDENT TOGETHER WITH ORDER DATED 08.01.2021
Exhibit P2 TRUE COPY OF THE REPRESENTATION DATED 09.03.2021
SUBMITTED BY THE PETITIONER BEFORE THE 2ND RESPONDENT
Exhibit P3 TRUE COPY OF THE ORDER DATED 20.03.2021 PASSED BY TEH
WILFUL DEFAULTER REVIEW COMMITTEE TOGETHER WITH THE
COVERING LETTER DATED 31.05.2021 ISSUED BY THE 1ST
RESPONDENT
Exhibit P4 TRUE COPY OF THE JUDGMENT DATED 12.01.2023 IN W.P. (C)
Exhibit P5 TRUE COPY OF THE LETTER DATED 01.03.2023 OF THE 1ST
RESPONDENT
Exhibit P6 TRUE COPY OF THE REPRESENTATION / WRITTEN SUBMISSION
DATED 22.03.2023 BEFORE THE 2ND RESPONDENT
Exhibit P7 TRUE COPY OF THE NOTICE DATED 18.05.2023 RECEIVED BY
THE PETITIONER FROM THE 1ST RESPONDENT
Exhibit P8 TRUE COPY OF THE REPRESENTATION DATED 08.05.2023
SUBMITTED BY THE PETITIONER BEFORE THE CONVENOR OF
COMMITTEE OF CREDITORS
Exhibit P9 TRUE COPY OF THE RELEVANT PAGES OF TEH RESOLUTION PLAN
SUBMITTED BY THE PETITIONER DATED 05.05.2023
Exhibit P10 TRUE COPY OF THE MINUTES OF THE COMMITTEE OF CREDITORS
DATED 11.05.2023
Exhibit P11 TRUE COPY OF THE ONE TIME SETTLEMENT PROPOSAL DATED
03.03.2015 SUBMITTED BY THE PETITIONER BEFORE THE
RESPONDENT BANK
Exhibit P12 TRUE COPY OF THE LETTER DATED 22.04.2016 ISSUED BY THE
RESPONDENT BANK
Exhibit P13 TRUE COPY OF THE INTERIM ORDER DATED 05.06.2023 IN W.P.
Exhibit P14 TRUE COPY OF THE WRITTEN SUBMSSION DATED 03.06.2023
SUBMITTED THROUGH EMAIL ON 04.06.2023
Exhibit P15 TRUE COPY OF THE COMMUNICATION DATED 08.06.2023 FROM
THE 1ST RESPONDENT BANK TO THE PETITIONER
Exhibit P16 TRUE COPY OF THE EMAIL SENT BY THE PETITIONER TO THE
RESPONDENT BANK ON 12.06.2023
Exhibit P17 TRUE COPY OF THE EMAIL SENT BY THE PETITIONER TO THE
RESPONDENT BANK ON 13.06.2023
Exhibit P 18 TRUE COPY OF THE EMAIL SENT BY THE PETITIONER TO THE
RESPONDENT BANK ON 17.06.2023
Exhibit P19 TRUE COPY OF THE EMAIL SENT BY THE PETITIONER TO THE
RESPONDENT BANK ON 19.06.2023
Exhibit P20 TRUE COPY OF THE ORDER DATED 02.06.2023 ALONG WITH A
COVERING LETTER DATED 06.07.2023 BY THE WDIC TO THE
PETITIONER
Exhibit P21 TRUE COPY OF THE REPRESENTATION DATED 19.07.2023
SUBMITTED BY THE PETITIONER BEFORE THE REVIEW COMMITTEE
Exhibit P22 TRUE COPY OF THE AGENDA NO.6 OF THE MINUTES OF THE
COMMITTEE OF CREDITORS DATED 07.07.2023
Exhibit P23 TRUE COPY OF THE LETTER DATED 08.07.2023 SUBMITTED BY
THE PETITIONER BEFORE THE 3RD RESPONDENT
WP(C) No.24265/2023 4/4 Order Date : 20-02-2024
Exhibit P24 TRUE COPY OF THE LETTER DATED 19.07.2023 SUBMITTED BY
THE PETITIONER BEFORE THE 3RD RESPONDENT
Exhibit R1(A) True photocopy of the RBI Master Circular on Wilful
Defaulters dated 01/07/2015
Exhibit R1(B) True photocopy of the Sanction Letter dated 20/10/2010
issued by the respondent Bank, signed by the company
and its guarantors.
Exhibit R1(C) True photocopy of the Letter of Arrangement dated
19/11/2010 issued by the respondent Bank, signed by the
company and guarantors
Exhibit R1(D) True photocopy of the Reserve Bank of India Circular
relating to opening of current account dated 15/05/2004
Exhibit R1(E) True photocopy of the order passed by the 2nd
respondent WDRC dated 22/08/2023
Exhibit R1(F) True photocopy of the Minutes of the meeting held on
30/05/2014 between the Bank officials and the
petitioner along with his CA Mr. Malik.
Exhibit R1(G) True photocopy of the last page of Ext. P1 order dated
08/01/2021 (omitted to be produced by the petitioner)
passed by the 5th respondent WDIC.
