Satheesh Kumar vs The Authorized Officer
2024 Latest Caselaw 14040 Ker

Kerala High Court

Satheesh Kumar vs The Authorized Officer on 28 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 28TH DAY OF MAY 2024 / 7TH JYAISHTA, 1946
                         WP(C) NO. 22154 OF 2023
PETITIONER:

              SATHEESH KUMAR,
              AGED 52 YEARS
              S/O SOMANATHAN PILLAI, PUTHEN THUNDATHIL VEEDU,
              BEACH ROAD, KOLLAM, PIN - 691001

              BY ADVS.
              SAJU J PANICKER
              KURIAN K JOSE


RESPONDENT:

              THE AUTHORIZED OFFICER
              INDIAN BANK. KADAPPAKKADA BRANCH.
              KADAPPAKKADA P.O .KOLLAM.,
              PIN - 691008

              BY ADV K.V.RAJESWARI


     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
28.05.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) No.22154 Of 2023
                                2




                         JUDGMENT

Dated this the 28th day of May, 2024

The petitioner availed ₹16 lakhs as Overdraft facility

from the Indian Bank. The petitioner mortgaged 7.93 Ares of

property in Paripally Village, Kollam Taluk as security.

2. The petitioner states that Covid-19 pandemic

adversely affected his business considerably and the

petitioner could not maintain the loan account. The

respondent thereupon issued Ext.P1 notice under Section

13(2) of the Securitisation and Reconstruction of Financial

Assets and Enforcement of Security Interest Act, 2002.

Ext.P2 Possession Notice was also issued under Rule 8(1)

of the Security Interest (Enforcement) Rules, 2002.

3. In this writ petition, the petitioner contends that he

is ready to pay the liability due to the Bank. The petitioner

requires only 15 months time to clear the liability due to the WP(C) No.22154 Of 2023

Bank.

4. The petitioner therefore has made the following

prayers:-

"i. To issue a writ of mandamus, order or direction staying all further proceedings pursuant to Exhibit P2 possession notice.

ii. To issue a writ of mandamus, order or direction directing the respondents to allow the petitioner to clear the liability due to the bank as on today in fifteen monthly installments."

5. When this writ petition came up for admission on

07.07.2023, this Court passed an interim order directing the

respondent to defer further proceedings pursuant to Ext.P2

till 27.07.2023. The interim order was extended till

04.08.2023 and was not extended thereafter.

6. Heard.

7. The prayer of the petitioner is to clear the liability

due to the Bank in 15 monthly instalments. The writ petition

was filed in the month of July, 2023 and more than ten

months have already lapsed. The petitioner has not made WP(C) No.22154 Of 2023

any substantial remittances to the Bank.

8. The only other challenge made by the petitioner in

this writ petition is against Ext.P2 Possession Notice. Ext.P2

Possession Notice is one issued under the Securitisation

and Reconstruction of Financial Assets and Enforcement of

Security Interest Act, 2002. If the petitioner is aggrieved by

Ext.P2, the petitioner ought to have approached the

competent Debts Recovery Tribunal.

I find that the writ petition is without any merit. The writ

petition is therefore dismissed.

Sd/-

N.NAGARESH JUDGE hmh WP(C) No.22154 Of 2023

APPENDIX OF WP(C) 22154/2023

PETITIONER EXHIBITS Exhibit p1 THE TRUE COPY OF THE NOTICE DATED 20.02.2023 ISSUED BY THE RESPONDENT BANK TO THE PETITIONER .

Exhibit p2        THE TRUE COPY OF THE POSSESSION NOTICE
                  DATED   13.06.2023    ISSUED   BY   HE
                  RESPONDENT.