Kerala High Court
Nishad K.A vs Indusind Bank Limited on 6 September, 2024
Author: Dinesh Kumar Singh
Bench: Dinesh Kumar Singh
WP(C) NO. 24014 OF 2024
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IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE DINESH KUMAR SINGH
FRIDAY, THE 6TH DAY OF SEPTEMBER 2024 / 15TH BHADRA, 1946
WP(C) NO. 24014 OF 2024
PETITIONER:
NISHAD K.A.,
AGED 46 YEARS
S/O. ABUBAKKAR, KULANGARA KUDIYIL HOUSE, MULAVOOR
P.O., MUVATTUPUZHA, PIN - 686673
BY ADVS.
DENU JOSEPH
MUHISEENA.V.Z
MANJU M.K.
JOYAL P. JOY
RESPONDENTS:
1 INDUSIND BANK LIMITED,
INDUSIND BANK LIMITED, GAURI NARAYANAN, 40/8200,
OPP. JAYALAKSHMI SILKS, M.G. ROAD, KOCHI,
REPRESENTED BY ITS MANAGER, PIN - 682035
2 AUTHORISED OFFICER,
INDUSIND BANK LIMITED, GAURI NARAYANAN, 40/8200,
OPP. JAYALAKSHMI SILKS, M.G. ROAD, KOCHI, PIN -
682035
3 REGIONAL TRANSPORT OFFICE (RTO),
MINI CIVIL STATION, VAZHAPILLY, MUVATTUPUZHA,
MUDAVOOR P.O., PIN - 686669
BY ADV VARGHESE C.KURIAKOSE
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION
ON 06.09.2024, THE COURT ON THE SAME DAY DELIVERED THE
FOLLOWING:
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JUDGMENT
The present writ petition has been filed for the following
prayers:
"a)To issue a writ in the nature of certiorari calling call for
the records leading to Exhibit P5 and Exhibit P6 and to quash
the same.
b)To issue a writ in the nature of mandamus or any other
appropriate writ order or direction directing the Respondent
Bank to consider offering OTS with installments to the
Petitioner deducting excessive interests & other charges and
also consider permitting vehicle to be sold to the persons
brought in by the Petitioner through which amount can be
adjusted against the loan."
2. As per the averments made in the statement filed
on behalf of the respondent Bank, a loan of Rs.5,05,645/- was
availed by the petitioner, who was the principal borrower along
with his wife, who was the co-borrower. The loan amount was
repayable in monthly installments. The petitioner has committed
defaults in making repayment of the loan in terms of the loan
agreement and therefore, the Bank after classifying the loan
account of the petitioner as Non-Performing Asset, has proceeded
under the provisions of the SARFAESI Act and Rules made
thereunder.
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3. The notice under Section 13(2) of the SARFAESI
Act was issued on 30.01.2023. The said notice was sent through
registered post to the petitioner as well as his wife. As per the
postal authorities, the aforesaid notice was delivered to the
petitioner on 31.01.2023.
4. As the petitioner did not pay the demanded sum
under Section 13(2) notice, Section 14 proceedings were initiated
before the Chief Judicial Magistrate. The possession of the property
was taken over by the Advocate Commissioner from the petitioner.
It is stated in the statement that the notices were issued to the
petitioner even before the sale notice and there was no response
from his side. He further submitted that, the personal notice
contemplated under the SARFAESI Act was issued on 05.01.2024
to the petitioner. But the petitioner did not make any attempt to
close the transaction and get back the vehicle.
5. In view thereof, a public notice for sale of the
vehicle was published in 'New India Express' and 'Kerala Kaumudi'
on 14.02.2024 and in pursuance of the same, the sale was
conducted. The reserve price was Rs.4 lakhs and EMD was
Rs.40,000/- . The said vehicle has been sold to one Sakkeena K.P.
6. The learned counsel for the respondent Bank
submits that the Bank shall furnish the copy of the notices issued
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to the petitioner within a period of ten days from today and will
also furnish the amount for which the vehicle was sold in favour of
Sakkeena K.P and her complete address. If the petitioner has
aggrieved by the sale of vehicle, the petitioner may take recourse
to any appropriate proceedings as may be available to him under
the law. The Bank shall furnish the relevant information to the
petitioner within a period of ten days from today.
With the above observations, the present Writ Petitions is
disposed of.
Sd/-DINESH KUMAR SINGH
JUDGE
lsn
WP(C) NO. 24014 OF 2024
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APPENDIX OF WP(C) 24014/2024
PETITIONER EXHIBITS
Exhibit.P1 THE COPY OF THE LETTER DATED 13.08.2019
ISSUED BY THE 1ST RESPONDENT TO THE
PETITIONER.
Exhibit.P2 THE COPY OF THE LOAN AGREEMENT DATED
31/07/2019 BETWEEN THE PETITIONER AND
RESPONDENT BANK.
Exhibit.P3 THE COPY OF THE LOAN ACCOUNT STATEMENT
DATED 30.12.2022
Exhibit.P4 TRUE COPY OF THE COPY OF THE ORDER IN
M.C. NO. 238/2023 DATED 30.06.2023 BY THE
CJM, THODUPUZHA
Exhibit.P5 THE TRUE COPY OF THE PRE-SALE NOTICE
DATED 05.01.2024 BY THE RESPONDENT BANK
TO THE PETITIONER.
Exhibit.P6 THE TRUE COPY OF THE NOTICE DATED
03.04.2024 SERVED ON THE PETITIONER ON
21.06.2024
RESPONDENTS EXHIBITS: NIL
TRUE COPY
P.A TO JUDGE
LSN
