Kerala High Court
Devanandhan K Pillai vs Union Bank Of India on 6 June, 2024
Author: N.Nagaresh
Bench: N.Nagaresh
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR.JUSTICE N.NAGARESH
THURSDAY, THE 6TH DAY OF JUNE 2024 / 16TH JYAISHTA, 1946
WP(C) NO. 12986 OF 2024
PETITIONER:
DEVANANDHAN K PILLAI,
AGED 59 YEARS
S/O.SIVASANKARA PILLA, PERUNCHERY HOUSE,
KURUCHILAKOD JUNCTION, KODANAD P.O.,
PERUMBAVOOR, ERNAKULAM DISTRICT,
PIN - 683544
BY ADVS.
K.T.THOMAS
NIKHIL BERNY
RESPONDENTS:
1 UNION BANK OF INDIA,
UNION BANK BHAVAN,239, VIDHAN BHAWAN MARG,
NARIMAN POINT, MUMBAI , MAHARASHTRA
REP. BY ITS MANAGING DIRECTOR,
PIN - 400021
2 THE AUTHORISED OFFICER,
UNION BANK OF INDIA, ASSET RECOVERY BRANCH,
UNION BANK BHAWAN, MAHATMA GANDHI ROAD,
ERNAKULAM, KOCHI, PIN - 682035
3 THE CHIEF MANAGER,
UNION BANK OF INDIA, KOOVAPPADY BRANCH,
SIVALY, OORAMANA,ERNAKULAM,
PIN - 686730
4 THE BRANCH MANAGER,
KERALA STATE FINANCIAL ENTERPRISES LTD.,
KURUPPAMPADY BRANCH, WINNER TOWER,
1ST FLOOR, AM ROAD, NEAR PRIVATE BUS STAND,
KURUPPAMPADY P.O., PERUMBAVOOR,
PIN - 683545
WP(C) No.12986 Of 2024
2
BY ADVS.
SRI.ASP.KURUP - R2 & R3
SRI.PRIJITH P -R4
SADCHITH.P.KURUP
C.P.ANIL RAJ
SIVA SURESH
B.SREEDEVI
ATHIRA VIJAYAN
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR
ADMISSION ON 06.06.2024, THE COURT ON THE SAME DAY
DELIVERED THE FOLLOWING:
WP(C) No.12986 Of 2024
3
JUDGMENT
Dated this the 6th day of June, 2024
The petitioner, who is a businessman by profession
and who is running a Hardware Shop at Kurichilakod near
Kodanad, is before this Court seeking to direct the 4 th
respondent to release the amounts due to the 2 nd respondent
from out of the auctioned / prized chit amount of
₹37.60 lakhs and to collect the title documents from the
Bank towards security for releasing the amount. The
petitioner also seeks to direct the 2 nd respondent to restrain
from proceeding with coercive proceedings against the
petitioner under the Securitisation and Reconstruction of
Financial Assets and Enforcement of Security Interest Act,
2002.
2. Standing Counsel representing the Bank
submitted that the total outstanding amount payable by the
WP(C) No.12986 Of 2024
petitioner as on 03.06.2024 is ₹38.50 lakhs. The petitioner
would submit that he has remitted ₹5 lakhs pursuant to the
interim directions of the Court.
3. Standing Counsel for the 4th respondent-Branch
Manager of the KSFE Limited submits that against the prized
chit of the petitioner, an amount of ₹29,17,324/- is payable to
the petitioner, subject to the petitioner remitting the
instalment promptly. The petitioner will have to make
available the title documents in respect of the property being
given as security to the KSFE Limited. The said document
now stands pledged to the Bank.
4. Standing Counsel for the Bank, on the other hand,
would submit that the amount payable by the KSFE Limited
will not wipe off the entire liability of the petitioner towards
the Bank. Therefore, unless the petitioner ensures that when
the KSFE pays the money, the balance outstanding is
already cleared, title documents cannot be handed over to
WP(C) No.12986 Of 2024
the KSFE.
5. Counsel for the petitioner submits that the
petitioner is ready to pay the balance outstanding amount to
the Bank in advance, before the KSFE Limited paying the
chit prize money to the Bank.
6. In the afore circumstances, the writ petition is
disposed of with the following directions:-
(1) The petitioner shall immediately provide
photocopies of the title documents of the property to be
given as security, to the 4th respondent.
(2) The petitioner shall pay the balance outstanding
amount payable to the Bank after deducting ₹29,17,324/-
payable by the KSFE Limited in advance.
(3) After ensuring that the balance amount is paid
and all other parameters except production of original title
deed, are satisfied, the KSFE Limited is directed to pay the
chit amount due to the petitioner to the Bank directly. On
WP(C) No.12986 Of 2024
receiving the balance amount from the KSFE, the Bank shall
handover the title documents to the 4th respondent.
(4) The petitioner shall thereafter remit the overdue
amount in the Housing Loan Account, in which case the
respondent shall regularise the Housing Loan account.
(5) Needless to say, the petitioner has to execute all
other requisite documents as required by the KSFE Limited.
(6) Coercive proceedings against the petitioner shall
stand deferred for a period of six weeks. Respondents 1 to 3
will be free to proceed against the petitioner, if the above
arrangement suggested by the petitioner do not materialise
within six weeks.
Sd/-
N.NAGARESH
JUDGE
hmh
WP(C) No.12986 Of 2024
APPENDIX OF WP(C) 12986/2024
PETITIONER EXHIBITS
Exhibit-P1 TRUE COPY OF SALE NOTICE DATED
13.11.2023 ISSUED BY 3RD RESPONDENT
Exhibit-P2 TRUE COPY OF SALE NOTICE DATED
06.03.2024 ISSUED BY 2ND RESPONDENT
Exhibit-P3 TRUE COPY OF SALE NOTICE DATED
18.04.2024 ISSUED BY 2ND RESPONDENT
