J.Kannaki v. Union Of India,

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED : 07.03.2024

CORAM:

THE HONOURABLE MR. JUSTICE R.SUBRAMANIAN AND THE HONOURABLE MR. JUSTICE R.SAKTHIVEL AND WMP NO.33723 OF 2019 J.Kannaki ... Petitioner Vs.

1.Union of India Rep. by its the Joint Secretary / Central Registrar of Co-operative Societies Ministry of Agriculture Krishi Bhavan, Rajendra Prasad Road, New Delhi - 110 001.

2.Reserve Bank of India Rep. By its Principal Chief Manager Department of Co-operative Bank Regulation Garmet House, Dr.Annie Besant Road, Mumbai - 400 018.

3.The Repatriates Co-operative Finance and Represented by its Managing Director Head Office - No.33, North Usman Road, T.Nagar, Chennai - 600 017.

1/5

4.The Repatriates Co-operative Finance and Represented by its Authorized Officer Plot No.2, M.K.B.Nagar, West Avenue, Vyasarpadi, Chennai - 600 039.

... Respondents PRAYER: Writ Petition filed under Article 226 of the Constitution of India, praying to issue a Writ of Certiorari, to call for the records of the 4 th respondent dated 10.09.2019 possession notice issued under SARFAESI Act and quash the same as the Repco Bank is not legally entitled to invoke the provisions of SARFAESI Act.

For Petitioner :

Mr.B.Ullasavelan For Respondents 1 & 2 :

Not ready in notice For Respondents 3 & 4 :

No appearance

O R D E R

(Order of the Court was made byR.SUBRAMANIAN, J.) Respondents 1 and 2 are not served. Despite service, none appears for the respondents 3 and 4.

2.Challenge in this writ petition is to the possession notice issued under Section 13(12) of the Securitisation Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 read with Rule 8 of the Security Interest (Enforcement) Rules, 2002. 2/5

3.A Division Bench of this Court in S.P.GANESAN VS. THE AUTHORISED OFFICER, REPCO BANK [W.P.No.33133 of 2019 decided on 03.03.2021] had held that the respondent Bank being a Co-operative Society cannot invoke the provisions of the SARFAESI Act. 4.In view of the said pronouncement of the Division Bench of this Court, the writ petition stands allowed. The impugned possession notice dated 10.09.2019 issued under Section 13(12) of the Securitisation Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 read with Rule 8 of the Security Interest (Enforcement) Rules, 2002 is quashed. No costs. Consequently, connected miscellaneous petition is closed.

[R.S.M., J.] [R.S.V., J.] 07.03.2024 Index : Yes / No Internet : Yes / No : Yes / No Speaking Order / Non-speaking Order TK 3/5

To 1.The Joint Secretary / Central Registrar of Co-operative Societies Union of India Ministry of Agriculture Krishi Bhavan, Rajendra Prasad Road, New Delhi - 110 001.

2.The Principal Chief Manager Reserve Bank of India Department of Co-operative Bank Regulation Garmet House, Dr.Annie Besant Road, Mumbai - 400 018.

3.The Managing Director The Repatriates Co-operative Finance and Head Office - No.33, North Usman Road, T.Nagar, Chennai - 600 017.

4.The Authorized Officer The Repatriates Co-operative Finance and Plot No.2, M.K.B.Nagar, West Avenue, Vyasarpadi, Chennai - 600 039.

4/5

R.SUBRAMAR.SUBRAMANIAN, J.

AN AND R.SAKTHIVEL, J.

TK 07.03.2024 5/5