Kerala High Court
M/S. Gee Cee Brothers vs The Authorized Officer on 21 May, 2024
Author: N.Nagaresh
Bench: N.Nagaresh
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR.JUSTICE N.NAGARESH
TUESDAY, THE 21ST DAY OF MAY 2024 / 31ST VAISAKHA, 1946
WP(C) NO. 42046 OF 2022
PETITIONERS:
1 M/S. GEE CEE BROTHERS,
AGED 41 YEARS
REPRESENTED BY ITS MANAGING PARTNER,
VISHWANADH KANNAN, S/O. G.KANNAN,
DOOR NO. IV-1287, KURUPLAVU ROAD,
FORT KOCHI, ERNAKULAM PIN - 682002.
2 VISHWANADH KANNAN,
AGED 41 YEARS
S/O. G.KANNAN, DOOR NO.IV-1287,
KURUPLAVU ROAD, FORT KOCHI,
ERNAKULAM PIN - 682002.
3 V.YALIZAI,
AGED 39 YEARS
DOOR NO.IV-1287, KURUPLAVU ROAD,
FORT KOCHI, ERNAKULAM PIN - 682002.
4 C.VENKATESH,
AGED 38 YEARS
DOOR NO.IV-1287, KURUPLAVU ROAD,
FORT KOCHI, ERNAKULAM PIN - 682002.
BY ADV K.MOHANAKANNAN
RESPONDENTS:
1 THE AUTHORIZED OFFICER,
KOTAK MAHINDRA BANK LIMITED,
40/9702, KANAKA DAMODAR BUILDING,
VEEKSHANAM ROAD,
OPPOSITE INTERNATIONAL HOTEL,
KOCHI, PIN - 682035.
W.P.(C)No.42046 of 2022
:2:
2 THE CHIEF MANAGER,
KOTAK MAHINDRA BANK LIMITED,
40/9702, KANAKA DAMODAR BUILDING,
VEEKSHANAM ROAD,
OPPOSITE INTERNATIONAL HOTEL,
KOCHI, PIN - 682035.
BY ADVS.
J.RAMKUMAR
M.A.JOSEPH MANAVALAN
KRUSCH P.A
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR
ADMISSION ON 21.05.2024, THE COURT ON THE SAME DAY
DELIVERED THE FOLLOWING:
W.P.(C)No.42046 of 2022
:3:
JUDGMENT
Dated this the 21st day of May, 2024
The petitioners are before this Court seeking to quash
Ext.P3 and to direct the respondents to permit the petitioners
to clear the amount demanded as per Ext.P3, less the
amount already remitted, in easy monthly instalments.
2. The petitioners challenge Ext.P3. Ext.P3 is a
possession notice issued by the respondents under Rule 8(1)
of the Security Interest (Enforcement) Rules, 2002.
3. It is settled law that no writ would lie against the
proceedings initiated by a financial institution under the
provisions of the SARFAESI Act. In United Bank of India v.
Satyawati Tondon and others [(2010) 8 SCC 110], the
Hon'ble Apex Court declared that no writ petition shall be
entertained against the proceedings initiated under the
SARFAESI Act at the instance of a defaulter since the statute
provides for an efficacious alternate remedy.
4. In the judgment in Authorised Officer, State
Bank of Travancore v. Mathew K.C. [2018 (1) KLT 784], the
Hon'ble Apex Court reiterated that no writ petition would lie
against the proceedings under the SARFAESI Act in view of
the statutory remedy available under the said Act.
5. Following the judgment in Satyawati Tondon
(supra), a Division Bench of this Court in the judgment in
Anilkumar v. State Bank of India [2020 (2) KLT 756]
declined to exercise jurisdiction under Article 226 of the
Constitution of India against the proceedings initiated under
the Securitisation Act.
6. In South Indian Bank Limited v. Naveen
Mathew Philip [2023 (4) KLT 29], the Apex Court held that
when the legislature has provided a specific mechanism for
appropriate redressal, the powers conferred under Article 226
of the Constitution of India shall be exercised only in
extraordinary circumstances.
7. In Jayakrishnan A. v. Union Bank of India and
others (W.P.(C) No.30803/2023), this Court held that writ
petition challenging any proceedings under the Securitisation
Act is not maintainable since the aggrieved person has an
effective and efficacious remedy before the Tribunal
constituted under the Act which is competent to adjudicate
the issues of fact and law, including statutory violations.
In the light of the categorical pronouncements of law
made by the Apex Court and by this Court, the above writ
petition is not maintainable and it is dismissed.
Sd/-
N. NAGARESH
JUDGE
ams
APPENDIX OF WP(C) 42046/2022
PETITIONERS' EXHIBITS
Exhibit P1 TRUE COPY OF THE NOTICE ISSUED U/S.
13(2) OF THE SARFAESI ACT DATED
17/08/2022.
Exhibit P2 TRUE COPY OF THE STATEMENT OF ACCOUNTS
FROM 01/01/2022 TO 19/12/2022.
Exhibit P3 TRUE COPY OF THE POSSESSION NOTICE
ISSUED BY THE 1ST RESPONDENT DATED
14/12/2022.
Exhibit P4 TRUE COPY OF THE PROPOSAL FOR
SETTLEMENT DATED 24.12.2022.
Exhibit P5 TRUE COPY OF THE STATEMENT OF ACCOUNT
FURNISHED BY THE RESPONDENT BANK FOR
THE PERIOD FROM 01/12/2022 TO
31/12/2022.
Exhibit P6 TRUE COPY OF THE STATEMENT OF ACCOUNT
OF THE RESPONDENT BANK DATED 13-9-
2023.
