Kerala High Court
P.I.Kurien vs M/S.Syndicate Bank Ltd on 21 June, 2024
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE EASWARAN S.
FRIDAY, THE 21ST DAY OF JUNE 2024 / 31ST JYAISHTA, 1946
WP(C) NO. 19954 OF 2018
PETITIONER:
P.I.KURIEN
AGED 78, PADINJAREYIL HOUSE, KANNIMANGALAM,
KADUKULANGARA, AYYAMPUZHA P.O., ERNAKULAM - 683 581.
BY ADVS.
N.M.MADHU
C.S.RAJANI
RESPONDENTS:
1 M/S.SYNDICATE BANK LTD.,
ANGAMALY BRANCH, JANATHA BUILDING,
CHURCH JUNCTION, ANGAMALY - 683 572.
2 THE AUTHORIZED OFFICER,
SYNDICATE BANK LTD., REGIONAL OFFICE,
SHANMUGHAM ROAD, KOCHI - 31.
3 M.V. VINCENT,
MADATHIPARAMBIL HOUSE, CHITTOOR ROAD,
SCHOOLPADY, VADUTHALA.
4 GEO KURIEN
AGED 41, S/O. P.I. KURIEN, PADINJAREYIL HOUSE,
KANNIMANGALAM, KADUKULANGARA, AYYAMPUZHA P.O.,
ERNAKULAM - 683 581.
BY ADVS.
SRI.R.S.KALKURA
PHILIP J.VETTICKATTU
VINEETH KURIAKOSE
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
21.06.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WP(C) NO. 19954 OF 2018 -2-
JUDGMENT
The above writ petition is filed seeking to challenge
a sale conducted under the provisions of the SARFAESI
Act, 2002.
2. The jurisdiction of this Court to entertain a writ
petition challenging the proceedings under the
SARFAESI Act is now settled by various judgment of the
honourable Supreme Court. Though the writ petition
was sent for mediation on several occasions, the same
did not fructify and the mediator had filed a report
stating that the mediation failed and accordingly the
matter came up for consideration before this Court on
14.06.2024.
3. When the matter was taken up for
consideration on 14.06.2024 the point of law as held by
the Supreme Court was put against the petitioner.
Faced with this situation, the petitioner prayed an
opportunity be granted once more to settle the issues
with the respondent auction purchaser. Accordingly, the
case was adjourned to 19.06.2024. On 19.06.2024, when
the matter was taken up for consideration, the following
order was passed.
"Both sides represented that the matter has
been settled between the parties wherein the
petitioner is willing to pay Rs.40,00,000/-
(Rupees Forty Lakhs only) to the purchaser, out
of which Rs.5,00,000/- (Rupees Five Lakhs only)
will be paid within a period of three weeks and
balance amount of Rs.35,00,000/- (Rupees
Thirty Five Lakhs only) within two months. The
parties seek time for filing a joint
statement/memo to record the compromise."
4. Today when the writ petition came up for
consideration, a joint statement has been filed by the
petitioner and the third respondent. The joint statement
of the parties reads as follows:
"......3.Now the writ petitioner and the 3rd
respondent has agreed to settle the matter
amicably on the following terms :
(i) The writ petitioner would pay the
3rd respondent a total sum of
Rs. 40,00,000/- (Forty Lakhs)
against which the 3rd respondent
would give up all his rights over
the property purchased by him in
the auction under challenge and
the writ petitioner would get
back absolute rights over the
property with marketable title
and possession.
(ii) Out of the aforesaid
Rs.40,00,000/- (Forty Lakhs), the
writ petitioner shall pay a sum of
Rs.5,00,000/- (Five Lakhs) on or
before 12.07.2024 and the balance
Rs.35,00,000/- (Thirty Five Lakhs)
on or before 21.08.2024 to the 3rd
respondent directly.
(iii) Upon payment of the entire
amount of Rs.40,00,000/-, the
sale of the property in favour of
the 3rd respondent would stand
nullified and the writ petitioner
shall get the absolute title over
the property.
(iv) The 3rd respondent shall not have
any objection in the first
respondent bank gives back the
entire original documents
regarding the property including
the title deed, back documents
etc. to the writ petitioner.
4. The first respondent bank shall have no
rights over the property in future.
5. If at all the writ petitioner fails to comply
with the payment as stipulated above, the
sale in favour of the 3rd respondent shall
stand confirmed and if in the writ
petitioner paid only the first instalment
and failed to pay the second instalment,
the 3rd respondent shall repay the said
amount to the writ petitioner within two
weeks from 21.08.2024 and the sale would
stand confirmed in favour of the 3rd
respondent."
5. The joint statement attested by the notary shall
form part of the judgment. Recording the above joint
statement, the writ petition is ordered accordingly.
6. In the event of the terms and conditions be
complied with, the sale in favour of the third
respondent would stand set aside and the property will
revert back to the petitioner. Failure of any of the terms
and conditions in the joint statement will entail the
petitioner from loosing the benefit of this judgment.
If the terms and conditions of the joint statement
are fulfilled, the third respondent shall intimate to the
first respondent (now Canara Bank), Angamaly Branch
regarding the receipt of the sale consideration
mentioned by the parties in the joint statement. Once
such intimation is received, the first respondent shall
return the documents to the petitioner. However, for
reasons best known, the third respondent refuses to
issue such letter, the petitioner shall be free to approach
the first respondent with evidence to show the
compliance of the terms and conditions of the joint
statement recorded by this Court in the writ petition.
Once the same is done, the first respondent shall take
appropriate action to release the documents in favour of
the petitioner. During the currency of this arrangement,
the third respondent shall not create any encumbrance of
the property or commit any waste. In other words no
further alienation of the property shall be done by the
third respondent during the currency of the period fixed
for performance of the conditions mentioned in the joint
statement before this Court.
Sd/-
EASWARAN S.
JUDGE
vv
APPENDIX OF WP(C) 19954/2018
PETITIONER EXHIBITS
EXHIBIT P1 TRUE COPY OF THE REPORT BY THE
ADVOCATE COMMISSIONER JIJO T.J. DATED
05.03.2013.
EXHIBIT P2 TRUE COPY OF THE SALE NOTICE DATED
19.01.2018.
EXHIBIT P3 TRUE COPY OF THE STATEMENT OF ACCOUNT
OF J.K. 27-31 RUBBERS FROM 01.04.2014
TO 30.04.2018 UPON TERMINATION OF THE
FACILITY EVIDENCING.
EXHIBIT P4 TRUE COPY OF THE SALE DEED NO. 2217/17
OF S.R.O. ANGAMALY.
EXHIBIT P4(A) TRUE COPIES OF THE SALE DEED NO.
2220/17 OF S.R.O.ANGAMALY.
EXHIBIT P5 TRUE COPY OF THE VALUATION REPORT
DATED 15.05.2015 PREPARED BY
K.A.THOMAS REGISTERED VALUER ON BEHALF
OF IDBI BANK LTD.
EXHIBIT P6 THE PRINT OUT OF THE GOOGLE MAP BY
MARKING THE LOCATIONS.
EXHIBIT P7 TRUE COPY OF THE EMAIL COMPLAINT DATED
03.05.2018.
EXHIBIT P8 TRUE COPY OF THE REPLY LETTER DATED
23.05.
EXHIBIT P9 TRUE COPY OF THE INTERIM SALE
CERTIFICATE.
EXHIBIT P10 TRUE COPY OF THE REPRESENTATION DATED
30.05.2018.
RESPONDENT EXHIBITS
EXHIBIT R1(a) TRUE COPY OF THE VALUATION REPORT BY
M/S. MECC ASSOCIATES
EXHIBIT R1(b) TRUE COPY OF THE ORDER FIXING THE
RESERVE PRICE CARRIED OUT BY THE
AUTHORIZED OFFICER DATED 13.12.2017
EXHIBIT R1(c) TRUE COPY OF THE SALE NOTICE ISSUED TO
THE PETITIONER IN RESPECT OF ITEM NO.1
DATED 19.1.2018 BY THE FIRST
RESPONDENT BANK
EXHIBIT R1(d) THE TRUE COPY OF THE POSTAL
ACKNOWLEDGMENT EVIDENCING RECEIPT OF
THE SALE NOTICE BY THE PETITIONER IN
RESPECT OF ITEM NO.1 PROPERTY
EXHIBIT R1(e) TRUE COPY OF THE COMPUTER GENERATED
AUCTION BID REPORT DATED 5.3.2018
EXHIBIT R1(f) TRUE COPY OF THE LETTER DATED 6.3.2018
SUBMITTED BY CYRIL THOMAS TO THE FIRST
RESPONDENT BANK.
EXHIBIT R1(g) TRUE COPY OF THE VALUATION REPORT
DATED 01.12.2017
