{"id":96084,"date":"2010-09-15T00:00:00","date_gmt":"2010-09-14T18:30:00","guid":{"rendered":"https:\/\/www.legalindia.com\/judgments\/k-rajendran-vs-authorised-officer-on-15-september-2010-2"},"modified":"2014-05-11T08:19:18","modified_gmt":"2014-05-11T02:49:18","slug":"k-rajendran-vs-authorised-officer-on-15-september-2010-2","status":"publish","type":"post","link":"https:\/\/www.legalindia.com\/judgments\/k-rajendran-vs-authorised-officer-on-15-september-2010-2","title":{"rendered":"K.Rajendran vs Authorised Officer on 15 September, 2010"},"content":{"rendered":"
Kerala High Court<\/div>\n
K.Rajendran vs Authorised Officer on 15 September, 2010<\/div>\n
       \n\n  \n\n  \n\n \n \n  IN THE HIGH COURT OF KERALA AT ERNAKULAM\n\nWP(C).No. 23712 of 2010(L)\n\n\n1. K.RAJENDRAN, VATAVILA PUTHEN VEEDU\n                      ...  Petitioner\n2. THANKAM, VATTAVILA PUTHEN VEEDU\n\n                        Vs\n\n\n\n1. AUTHORISED OFFICER, THE CHIEF MANAGER\n                       ...       Respondent\n\n2. SINUKUMAR M.K\n\n                For Petitioner  :SRI.R.V.SREEJITH\n\n                For Respondent  :SRI.GEORGE VARGHESE (MANACHIRACKEL)\n\nThe Hon'ble MR. Justice C.K.ABDUL REHIM\n\n Dated :15\/09\/2010\n\n O R D E R\n                  C.K. ABDUL REHIM, J\n                  ------------------------------\n               WP(C) NO. 23712 OF 2010\n               -------------------------------------\n        Dated this the 15th day of September, 2010\n\n\n                          JUDGMENT\n<\/pre>\n
     Challenge in this Writ Petition is against proceedings<\/p>\n
initiated by the first respondent under the provisions of the<\/p>\n
Securitisation and Reconstruction of Financial Assets and<\/p>\n
Enforcement of Security Interest Act, 2002 (SARFAESI Act).<\/p>\n
Consequent to default committed in repayment of ‘overdraft<\/p>\n
cash credit facility’ availed by the petitioner from the first<\/p>\n
respondent Bank, proceedings against the immovable<\/p>\n
property which is the secured asset with respect to the loan<\/p>\n
transaction, was initiated. On invoking Section 14 (1) of the<\/p>\n
Act, the first respondent had approached the Chief Judicial<\/p>\n
Magistrate Court. An Advocate Commissioner was appointed<\/p>\n
to take over possession of the immovable property. Exts.P2<\/p>\n
and    P3   are   the   notices    issued    by    the Advocate<\/p>\n
Commissioner, the second respondent herein.<\/p>\n
     2.   Considering the effective alternate remedies<\/p>\n
                              2<\/span>
\nWP(C) No. 23712\/2010<\/p>\n
available under the statute and also considering the fact<\/p>\n
that the petitioners have not chosen to avail any such<\/p>\n
remedies, this Writ Petition cannot be entertained.<\/p>\n
However, based on a submission that the petitioner is ready<\/p>\n
and willing to pay off the liability, an interim order was<\/p>\n
issued by this Court on 29.07.2010, directing payment of a<\/p>\n
sum of Rs.1 lakh. It is conceded by both sides that the said<\/p>\n
amount was paid in compliance with the stipulation.<\/p>\n
     3.     Learned   counsel    appearing    for the    first<\/p>\n
respondent Bank submitted that the balance outstanding<\/p>\n
after crediting all payments will be around Rs.1.82 lakhs as<\/p>\n
on 31.08.2010.\n<\/p>\n
     4.     Learned counsel for the petitioner made a request<\/p>\n
to this Court for permitting payment of the entire balance<\/p>\n
within a short time, in instalments, on the specific<\/p>\n
understanding that the petitioner is relinquishing all<\/p>\n
challenges against the proceedings and that he is not<\/p>\n
intending to avail any of the statutory remedies available.<\/p>\n
                                3<\/span>
\nWP(C) No. 23712\/2010<\/p>\n
Having considered the facts and circumstances, I am<\/p>\n
inclined to show indulgence in permitting the petitioner to<\/p>\n
pay off the entire balance, within a short period.<\/p>\n
     5.     In the result, the Writ Petition is disposed of<\/p>\n
directing the respondents to keep all further proceedings<\/p>\n
pursuant to Exts.P2 and P3 notices in abeyance, provided<\/p>\n
the petitioner remits the entire balance outstanding in 4<\/p>\n
(four) equal monthly instalments, falling due on or before<\/p>\n
20.10.2010 and on or before the 20th day of the succeeding<\/p>\n
months.\n<\/p>\n
     6.     It is made that on the event of default in payment<\/p>\n
of any of the instalments the respondents will be free to<\/p>\n
proceed with further steps pursuant to Exts.P2 and P3. It is<\/p>\n
also made clear that the above benefit is granted subject to<\/p>\n
the condition that the petitioner will be precluded from<\/p>\n
raising any subsequent challenge against such proceedings.<\/p>\n
                                    C.K. ABDUL REHIM
\n                                         JUDGE
\ndnc<\/p>\n","protected":false},"excerpt":{"rendered":"
Kerala High Court K.Rajendran vs Authorised Officer on 15 September, 2010 IN THE HIGH COURT OF KERALA AT ERNAKULAM WP(C).No. 23712 of 2010(L) 1. K.RAJENDRAN, VATAVILA PUTHEN VEEDU … Petitioner 2. THANKAM, VATTAVILA PUTHEN VEEDU Vs 1. AUTHORISED OFFICER, THE CHIEF MANAGER … Respondent 2. SINUKUMAR M.K For Petitioner :SRI.R.V.SREEJITH For Respondent :SRI.GEORGE VARGHESE (MANACHIRACKEL) […]<\/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-96084","post","type-post","status-publish","format-standard","hentry","category-high-court","category-kerala-high-court"],"yoast_head":"\nK.Rajendran vs Authorised Officer on 15 September, 2010 - Free Judgements of Supreme Court & 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\/k-rajendran-vs-authorised-officer-on-15-september-2010-2\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"K.Rajendran vs Authorised Officer on 15 September, 2010 - 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