Sakeer Hussain v. The Federal Bank Limited
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT:
THE HONOURABLE MR. JUSTICE A.K.JAYASANKARAN NAMBIAR WEDNESDAY, THE 16TH DAY OF SEPTEMBER 2015/25TH BHADRA, 1937 WP(C).No. 24588 of 2015 () --------------------------- PETITIONER(S):
-------------- SAKEER HUSSAIN AGED 65 YEARS S/O.MUHAMMED ALI, PUTHIYA VEETTIL HOUSE KEEZHPILLIKARA VILLAGE THRISSUR TALUK AND DISTRICT REPRESENTED BY POWER OF ATTORNEY HOLDER MOHANAN AGED 65 YEARS, S/O.UNNERIKUTTY, KANDANGATTIL HOUSE EDATHIRUTHY PO, CHENTRAPINNI, KODUNGALLUR TALUK THRISSUR DISTRICT.
BY ADVS.SRI.JOHNSON MANAYANI SRI.JEEVAN MATHEW MANAYANI RESPONDENT(S):
--------------
1. THE FEDERAL BANK LIMITED REPRESENTED BY ITS MANAGING DIRECTOR, FEDERAL TOWERS ALWAYE
2. THE CHIEF MANAGER, FEDERAL BANK LTD. FEDERAL TOWERS, ALWAYE
3. THE ZONAL MANGER FEDERAL BANK LTD., FEDERAL TOWERS, ZONAL OFFICE ERNAKULAM-682031.
4. THE RESERVE BANK OF INDIA REPRESENTED BY ITS REGIONAL MANGER RESERVE BANK OF INDIA, BAKERY JUNCTION TRIVANDRUM-695 035.
5. UNION OF INDIA REPRESENTED BY ITS SECRETARY TO BANKING AND FINANCE CENTRAL SECRETARIAT NEW DELHI-1.
R3 BY ADV. SRI.A.ANTONY R3 BY ADV. SMT.LEELAMMA ANTONY R5 BY SRI.N.NAGARESH, ASSISTANT SOLICITOR GENERAL THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 16-09-2015, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WP(C).No. 24588 of 2015 () --------------------------- APPENDIX PETITIONER(S)' EXHIBITS ------------------------ P1 : THE TRUE COPY OF THE POWER OF ATTORNEY DATED 27-7-2015. P2 : THE RELEVANT PORTION OF THE AUCTION NOTICE PUBLISHED BY THE 2ND RESPONDENT IN MALAYALA MANORAMA DATED 7-7-2015. P3 : THE TRUE COPY OF THE JUDGMENT IN WA.NO.504 OF 2012 DATED 17-102012 OF THIS HON'BLE COURT. P4 : THE TRUE COPY OF THE INTERIM ORDER OF THE APEX COURT OF INDIA DATED 8-1-2015.
P5 : THE TRUE COPY OF THE PETITION FILED BY THE PETITIONER BEFORE THE RESPONDENTS 1, 3 AND 4 DATED 8-8-2015.
RESPONDENT(S)' EXHIBITS ------------------------ NIL /TRUE COPY/ PS TO JUDGE vgs
A.K.JAYASANKARAN NAMBIAR, J.
=========================================== W.P.(C). No. 24588 of 2015 ===================================================== Dated this the 16th day of September, 2015
JUDGMENT
The petitioner, who had availed a loan from the respondent bank, defaulted in repayment of the same. Consequently, the respondent bank initiated proceedings under the Securitisation and Reconstructions of Financial Assets and Enforcement of Security Interest Act, 2002, hereinafter referred to as the 'SARFAESI Act', to recover the loan amounts. The petitioner, therefore approached this Court through the present writ petition, aggrieved by the steps taken by the respondent bank to sell the property that was mortgaged with the respondent bank as secured asset. When the matter was taken up today, it is submitted by the learned counsel for the respondent bank that the sale proceedings initiated by Ext.
P2 notice have since been cancelled for want of bidders and, as and when the respondents initiate fresh proceedings against the property, the petitioner will be duly informed of the same, and the statutory formalities will also be complied with prior to the sale.
-2W.P.(C). No. 24588 of 2015 with a proposal for a partial sale of the property for realisation of the dues from the petitioner. If the petitioner approaches the respondent bank with a suitable proposal, the respondent bank shall examine the same on merits and take a decision thereon, after hearing the petitioner.
Sd/- A.K.JAYASANKARAN NAMBIAR JUDGE das