IN THE HIGH COURT OF KERALA AT ERNAKULAM
WP(C).No. 20131 of 2010(N)
1. M/S.BANGAR SHIPPING AND LOGISTICS,
... Petitioner
Vs
1. INDIAN OVERSEAS BANK,KOCHI BRANCH,
... Respondent
For Petitioner :SRI.E.K.NANDAKUMAR
For Respondent :SRI.K.N.SIVASANKARAN
The Hon'ble MR. Justice C.K.ABDUL REHIM
Dated :21/10/2010
O R D E R
C.K.ABDUL REHIM, J
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W.P(C) No.20131 of 2010-N
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Dated this the 21st day of October, 2010.
J U D G M E N T
This writ petition was filed challenging demands raised by
the respondent Bank and also challenging the non-consideration
of request made by the petitioner for restructuring of the loan.
This writ petition was filed as early as in June 2010. Along with
the counter affidavit, the respondent had produced copy of
notice issued under Section 13(2) of the Securitization and
Reconstruction of Financial Assets and Enforcement of Security
Interest Act, 2002 (SARFAESI Act), Ext.R1(d), which was issued
on 15.6.2010.
2. Since this Court was not at all inclined to entertain
this writ petition to grant any reliefs with respect to the request
for restructuring of the loan account, learned counsel for the
petitioner submitted that the petitioner is seeking to pursue the
contentions under the provisions of the SARFAESI Act.
Accordingly, the petitioner seeks for a direction to consider the
objections which will be filed against the notice issued under
Section 13(2).
W.P(C) No.20131 of 2010-N 2
3. Learned counsel appearing for the respondent Bank
vehementally opposed such prayer on the ground that the receipt
of notice under Section 13(2) was not disclosed at the time of
filing of the writ petition. It was further contended that the time
stipulated under Section 13(2) for filing objections against the
demand had lapsed long back.
4. However, having considered the fact that the
petitioner had filed this writ petition during June 2010, and they
were prosecuting the challenges before this Court, I am of the
view that the petitioner can be afforded with an opportunity to
submit objections/representations against Ext.R1(d) notice.
4. Therefore, the writ petition is dismissed reserving
liberty to the petitioner to file objections/representations against
notice issued under Section 13(2) within a period of two weeks
from today.
5. Needless to say that the Bank will discharge its
obligation under Section 13(3A) if any such objections/
representations is received within the time stipulated as above,
before proceeding with further steps under the SARFAESI Act.
Sd/-
C.K.ABDUL REHIM
JUDGE
ab //True Copy//
W.P(C) No.20131 of 2010-N 3