Kerala High Court
Marson Cherian vs M/S. South Indian Bank Ltd on 23 May, 2024
Author: N.Nagaresh
Bench: N.Nagaresh
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR.JUSTICE N.NAGARESH
THURSDAY, THE 23RD DAY OF MAY 2024 / 2ND JYAISHTA, 1946
WP(C) NO. 18630 OF 2024
PETITIONER:
MARSON CHERIAN
AGED 63 YEARS
S/O. CHERIAN, VENNATTUPARAMBIL HOUSE',
CHENGALUR ROAD, NEAR HOLY FAMILY HOSPITAL,
OLLUR P.O. , THRISSUR, PROPRIETOR,
M/S. TUBE LINKS,1/449, S.N.PURAM,
CHENGALUR - PUDUKKAD, THRISSUR DISTRICT,
PIN - 680306
BY ADVS.
R.MURALEEDHARAN
DR.ANIES GEORGE
RESPONDENTS:
1 M/S. SOUTH INDIAN BANK LTD
OLLUR BRANCH, D.NO.XI/758, RAMUS SHOPPING MALL,
MAIN ROAD, PANAMKUTTICHIRA, OLLUR P.O. ,
THRISSUR DISTRICT,
REPRESENTED BY THE BRANCH MANAGER, PIN - 680306
2 AUTHORIZED OFFICER AND CHIEF MANAGER
SOUTH INDIAN BANK LTD. , REGIONAL OFFICE,
THRISSUR, PLATINUM JUBILEE BUILDING,
CIVIL LANE, AYYANTHOLE,
THRISSUR, PIN - 680003
SRI.P.A.AUGUSTINE-R1 & R2
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
23.05.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WP(C) No.18630 Of 2024
2
JUDGMENT
Dated this the 23rd day of May, 2024
The petitioner, who has availed financial assistance
from the South Indian Bank and against whom coercive
proceedings under the Securitisation and Reconstruction of
Financial Assets and Enforcement of Security Interest Act,
2002 are pending, has filed this writ petition seeking the
following reliefs:-
"(a) Issue a writ of certiorari or any other
appropriate writ or order quashing Ext.P1 notice issued
under Sec.13(2) and pursuant to Ext.P-9 notice issued
by the Advocate Commissioner to dispossess the
properties from petitioners;
b) Issue a writ of mandamus or any other
appropriate writ, order or direction to the respondents,
directing to extend the time limit given to discharge the
debts under One Time Settlement Scheme upto
September 2024 as the time granted was too short
considering the amount directed to remit;
(c) Issue a writ of mandamus or any other
appropriate wit, order or direction to the respondents,
directing the 1st respondent to allow the petitioner to
pay off the entire debts remains as outstanding in the
Cash Credit Loans and the overdue amount in the term
loan account in twenty five equal monthly installments;"
WP(C) No.18630 Of 2024
2. In effect, what the petitioner seeks is change of
conditions of One Time Settlement enlarging the time for
paying the offered One Time Settlement amount.
3. Standing Counsel entered appearance on behalf
of the respondents and resisted the writ petition. The
Standing Counsel pointed out that the One Time Settlement
proposal has already been cancelled by the Bank as is
evident from Ext.P11 and in view of the law laid down by the
Hon'ble Apex Court, this Court cannot interfere in the matter
invoking the powers under Article 226 of the Constitution of
India.
4. Heard.
5. The Hon'ble Apex Court has held in the judgment
in State Bank of India v. Arvindra Electronics Private
Limited [(2023) 1 SCC 540] that the High Court in exercise
of the powers under Article 226 of the Constitution of India
cannot unilaterally alter the terms of One Time Settlement
WP(C) No.18630 Of 2024
agreement entered into between Bank and their customers.
6. If the petitioner seeks any re-arrangement in the
matter of repayment, the petitioner has to approach the Bank
authorities.
In view of the above, the writ petition is disposed of
permitting the petitioner to approach the respondents, if the
petitioner is so advised, for any settlement / fresh One Time
Settlement proposal in the matter.
Sd/-
N.NAGARESH
JUDGE
hmh
WP(C) No.18630 Of 2024
APPENDIX OF WP(C) 18630/2024
PETITIONER EXHIBITS
Exhibit P1 TRUE COPY OF THE NOTICE ISSUED UNDER
SEC.13(2) OF THE ACT. BY THE 2ND
RESPONDENT DATED 12.01.2023
Exhibit P2 TRUE COPY OF THE STATEMENT OF
TRANSACTION DETAILS OBTAINED FROM THE
BANK, DATED 05.08.2023
Exhibit P3 TRUE COPY OF THE POSSESSION NOTICE
ISSUED UNDER RULE 8( 1) BY THE 2ND
RESPONDENT, DT.20.04.2023
Exhibit P4 TRUE COPY OF THE APPLICATION SUBMITTED
BY THE PETITIONER SEEKING ONE TIME
SETTLEMENT, DT.14.11.2023
Exhibit P5 TRUE COPY OF THE JUDGMENT DATED
21.12.2023 IN WP(C) NO.43325/2023
Exhibit P6 TRUE COPY OF THE COMMUNICATION DATED
05.01.2024 SERVED TO THE PETITIONERS
REJECTING EXT.P-5 APPLICATION
Exhibit P7 TRUE COPY OF THE APPLICATION SEEKING
PERMISSION FOR SALE OF PROPERTY BY
PRIVATE NEGOTIATIONS DATED 06.10.2023
Exhibit P8 TRUE COPY OF THE APPLICATION SEEKING
PERMISSION FOR SALE OF PROPERTY BY
PRIVATE NEGOTIATIONS DATED 08.01.2024
Exhibit P9 TRUE COPY OF THE NOTICE ISSUED BY THE
ADV. COMMISSIONER TO TAKE PHYSICAL
POSSESSION OF PROPERTIES DATED
30.11.2023
Exhibit P10 TRUE COPY OF THE JUDGMENT IN W.P.
(C).NO. 2378 0F 2024 DATED 23.01.2024
Exhibit P11 TRUE COPY OF THE COMMUNICATION
RECEIVED BY THE PETITIONER DATED
18.04.2024.
