M/S.Jayam Educational Trust v. The Indian Overseas Bank
BEFORE THE MADURAI BENCH OF MADRAS HIGH COURT DATED: 02.09.2015 CORAM :
THE HONOURABLE MR.JUSTICE R.SUDHAKAR and THE HONOURABLE MS.JUSTICE V.M.VELUMANI Writ Petition (MD) No.15880 of 2015 and MP(MD)Nos.1 to 3 of 2015 M/s.Jayam Educational Trust, Rep by its Founder & Managing Trustee, P.Bharathimohan, T.S.No.58/1 7 58/2 (Block No.57), 1st Street, Rajappa Nagar, M.C.Road, Thanjavur ... Petitioner Vs.
1.The Indian Overseas Bank, Rep by its Branch Manager / Chief Manager, Neelagirivattam Branch, 37, Easwari Nagar, Medical College Road, Thanjavur.
2.Bhuvaneswari Branch Manager, Indian Overseas Bank, Neelagirivattam Branch, 37, Easwari Nagar, Medical College Road, Thanjavur.
3.Authorized Officer, Indian Overseas Bank, Neelagirivattam Branch, 37, Easwari Nagar, Medical College Road, Thanjavur.
... Respondents Prayer:
Petition filed under Article 226 of the Constitution of India praying for issuance of a Writ of Certiorari calling for the records relating to the impugned rejection letter dated 18.08.2015 issued by the 1st respondent and consequential possession notice dated 27.08.2015 issued by the 3rd respondent and quash the same. For Petitioner : Mr.AL.Kannan For Respondents : Mr.N.Dilipkumar
ORDER
(Order of the Court was made by R.SUDHAKAR,J.) This writ petition has been filed challenging the reply letter of the Indian Overseas Bank refusing to grant extension of time in making payment and consequently to set aside the possession notice issued under Section 13(4) of the SARFAESI Act, 2002. https://hcservices.ecourts.gov.in/hcservices/
2.We are unable to interfere with this matter in view of the decision of the Supreme Court in Union Bank of India and another Vs.Panchanan Subudhi reported in (2010) 15 SCC 552. As far as the possession notice is concerned, there is a remedy available under the statute. Therefore, the writ petition is dismissed. However, this order does not preclude the petitioner from approaching the Debts Recovery Tribunal on reasonable terms. No costs. Consequently, M.P(MD)Nos.1 to 3 of 2015 are closed.
Sd/- Assistant Registrar(CO) /True copy/ Sub Assistant Registrar sms To 1.The Branch Manager / Chief Manager, The Indian Overseas Bank, Neelagirivattam Branch, 37, Easwari Nagar, Medical College Road, Thanjavur.
2.The Authorized Officer, Indian Overseas Bank, Neelagirivattam Branch, 37, Easwari Nagar, Medical College Road, Thanjavur.
+1cc to Mr.AL.Kannan, Advocate SR No.51370 +1cc to Mr. N.Dilip Kumar, Advocate SR No.51102 Writ Petition (MD) No.15880 of 2015 02.09.2015 rg.23.09.2015/SK/SKN/ 2p/5c https://hcservices.ecourts.gov.in/hcservices/