{"id":217582,"date":"2009-02-09T00:00:00","date_gmt":"2009-02-08T18:30:00","guid":{"rendered":"https:\/\/www.legalindia.com\/judgments\/padmanabhan-k-t-vs-the-kerala-state-co-operative-on-9-february-2009"},"modified":"2016-05-18T19:49:53","modified_gmt":"2016-05-18T14:19:53","slug":"padmanabhan-k-t-vs-the-kerala-state-co-operative-on-9-february-2009","status":"publish","type":"post","link":"https:\/\/www.legalindia.com\/judgments\/padmanabhan-k-t-vs-the-kerala-state-co-operative-on-9-february-2009","title":{"rendered":"Padmanabhan.K.T. vs The Kerala State Co-Operative on 9 February, 2009"},"content":{"rendered":"<div class=\"docsource_main\">Kerala High Court<\/div>\n<div class=\"doc_title\">Padmanabhan.K.T. vs The Kerala State Co-Operative on 9 February, 2009<\/div>\n<pre>       \n\n  \n\n  \n\n \n \n  IN THE HIGH COURT OF KERALA AT ERNAKULAM\n\nWA.No. 2695 of 2007()\n\n\n1. PADMANABHAN.K.T., S\/O.A.K.C.VELAYUDHAN,\n                      ...  Petitioner\n\n                        Vs\n\n\n\n1. THE KERALA STATE CO-OPERATIVE\n                       ...       Respondent\n\n2. THE DEPUTY GENERAL MANAGER,\n\n                For Petitioner  :SRI.V.T.MADHAVANUNNI\n\n                For Respondent  :SRI.NAGARAJ NARAYANAN,SC,K.S.CO-OP BANK\n\nThe Hon'ble the Acting Chief Justice MR.J.B.KOSHY\nThe Hon'ble MR. Justice P.BHAVADASAN\n\n Dated :09\/02\/2009\n\n O R D E R\n               J.B. KOSHY, Ag. CJ. &amp; P.B HAVADASAN, J.\n                - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -\n                      WRIT APPEAL No. 2695 of 2007\n                    - - - - - - - - - - - - - - - - - - - - - - - - - - - - -\n                   Dated this the 9th day of February, 2009.\n\n                                      JUDGMENT\n<\/pre>\n<p>KOSHY, Ag.CJ,<\/p>\n<p>            The appellant-petitioner took loan from the Kerala State<\/p>\n<p>Co-operative Bank and created security of his property by deposit of<\/p>\n<p>title deeds.  When action was taken under the                               Securitisation and<\/p>\n<p>Reconstruction of Financial Assets and Enforcement of Security<\/p>\n<p>Interest Act, the petitioner approached this court. The learned Single<\/p>\n<p>Judge relegated the petitioner to approach the appropriate forum.<\/p>\n<p>            2. The main contention of the petitioner that the Kerala<\/p>\n<p>State Co-operative Bank, which is a scheduled Bank, will not come<\/p>\n<p>under the SARFAESI Act was turned down by the learned Single<\/p>\n<p>Judge by following the decision reported in Greater Bombay Co-<\/p>\n<p>operative <a href=\"\/doc\/1516582\/\">Bank Ltd. v. M\/s. United Yarn Tex. Pvt. Ltd. (JT<\/a> 2007(5)<\/p>\n<p>SC 201).\n<\/p>\n<p>            3. In view of the fact that the property was about to be<\/p>\n<p>sold, this court had granted interim stay on 11.1.2008 provided the<\/p>\n<p>petitioner pays 25% of the amount demanded within two months from<\/p>\n<p><span class=\"hidden_text\">WA. 2695\/2007.                        2<\/span><\/p>\n<p>the date of the order. That period expired on 11.3.2008. So far 25% of the<\/p>\n<p>amount was not paid.       The impugned judgment is dated 20.9.2007.<\/p>\n<p>Therefore, we see no merit in the writ appeal. However, if the petitioner<\/p>\n<p>files an application before the Debt Recovery Tribunal, it is for the said<\/p>\n<p>authority to consider the matter and take a decision in accordance with law.<\/p>\n<p>             We dismiss the writ appeal.\n<\/p>\n<\/p>\n<p>                                                      J.B. KOSHY,<br \/>\n                                               ACTING CHIEF JUSTICE<\/p>\n<p>                                                  P. BHAVADASAN,<br \/>\n                                                          JUDGE<\/p>\n<p>sb.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Kerala High Court Padmanabhan.K.T. vs The Kerala State Co-Operative on 9 February, 2009 IN THE HIGH COURT OF KERALA AT ERNAKULAM WA.No. 2695 of 2007() 1. PADMANABHAN.K.T., S\/O.A.K.C.VELAYUDHAN, &#8230; Petitioner Vs 1. THE KERALA STATE CO-OPERATIVE &#8230; Respondent 2. THE DEPUTY GENERAL MANAGER, For Petitioner :SRI.V.T.MADHAVANUNNI For Respondent :SRI.NAGARAJ NARAYANAN,SC,K.S.CO-OP BANK The Hon&#8217;ble the Acting [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8,21],"tags":[],"class_list":["post-217582","post","type-post","status-publish","format-standard","hentry","category-high-court","category-kerala-high-court"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Padmanabhan.K.T. vs The Kerala State Co-Operative on 9 February, 2009 - Free Judgements of Supreme Court &amp; High Court | Legal India<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.legalindia.com\/judgments\/padmanabhan-k-t-vs-the-kerala-state-co-operative-on-9-february-2009\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Padmanabhan.K.T. vs The Kerala State Co-Operative on 9 February, 2009 - Free Judgements of Supreme Court &amp; 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