S.Karthik v. M/S.Housing Development Finance Corporation Ltd., (Hdfc Ltd.,)

BEFORE THE MADURAI BENCH OF MADRAS HIGH COURT DATED : 29.08.2023

CORAM:

THE HONOURABLE MR.SANJAY V.GANGAPURWALA, CHIEF JUSTICE and THE HONOURABLE MR.JUSTICE C.KUMARAPPAN and W.M.P.(MD) Nos.17504 & 17505 of 2023 S.Karthik ... Petitioner -vsM/s.Housing Development Finance Corporation Ltd., (HDFC Ltd.) No.406, Sakthi Sivam Plaza Pumping Station Road, 9th Cross KK Nagar East, Madurai-625 020 rep.by its Authorised Officer ... Respondent PRAYER: Petition filed under Article 226 of the Constitution of India, to issue a writ of certiorari calling for records of the impugned order / warrant of commission issued under Section 14 of the SARFAESI Act by the Chief Judicial Magistrate, Tiruchirappalli, in Crl.M.P.No.27688 of 2022, dated 13.07.2023 and quash the same.

For Petitioner :

Mr.R.S.Sivaram For Respondent :

Mr.N.S.Karthikeyan Standing Counsel

O R D E R

[Order of the Court was made by The Hon'ble CHIEF JUSTICE] We have heard Mr.R.S.Sivaram, learned counsel appearing for the petitioner and Mr.N.S.Karthikeyan, learned Standing Counsel, appearing for the respondent - Bank.

2. The petitiopner is challenging the order passed under Section 13(4) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.

3. Learned counsel for the petitioner states that the petitioner had already challenged the auction notice under Section 13(4) of the SARFAESI Act before the Debts Recovery Tribunal. However, since for a long time the Presiding Officer is not available, all the matters are kept pending till 22.09.2023 by the Debts Recovery Tribunal.

4. In the interregnum, the order under Section 14 of the SARFAESI Act has been passed and the same is sought to be assailed.

5. The petitioner has a remedy available before the Debts Recovery Tribunal.

6. Learned counsel for the petitioner submits that the officials of the respondent - Bank are going to come on the site for taking possession today.

7. In view of the alternative remedy available to the petitioner before the Debts Recovery Tribunal, we are not inclined to exercise our writ jurisdiction. However, it is submitted that the petitioner is ready to deposit a sum of Rs.5,00,000/- (Rupees five lakhs only) with the respondent - Bank on or before 01.09.2023.

8. In case the petitioner deposits Rs.5,00,000/- (Rupees five lakhs only) with the respondent - Bank by 01.09.2023, then the respondent - Bank shall not take possession of the secured property for a period of seven days

from today, so as to enable the petitioner to avail the alternative remedy before the Debts Recovery Tribunal.

9. Needless to state that if the petitioner fails to deposit Rs.5,00,000/- by 01.09.2023, then the respondent - Bank may proceed further with the proposed auction.

10. The writ petition is accordingly disposed of. No costs. Consequently, connected miscellaneous petitions are closed. [S.V.G., .C.J.] [C.K., J.] 29.08.2023 NCC :

Yes / No Index :

Yes / No Internet :

Yes / No Note to Office:

Issue order copy today.

krk To:

The Chief Judicial Magistrate, Tiruchirappalli.

THE HONOURABLE CHIEF JUSTICE and C.KUMARAPPAN , J.

krk and W.M.P.(MD) Nos.17504 & 17505 of 29.08.2023