Judgment · High Court · 2008
Case at a glance
Provisions considered
Judgment
BY ADV. SRI.GEORGE ABRAHAM SRI.T.SREEKANTAN RESPONDENTS:
UNION OF INDIA, HEAD OFFICE : 239, VIDHAN BHAVAN MARG, MUMBAI-21, REPRESENTED BY ITS EXECUTIVE DIRECTOR.
DEPUTY GENERALF MANAGER, NODAL REGIONAL OFFICE, UNION BANK OF INDIA, UNION BANK BHAVAN, P.B.NO.3667, M.G.ROAD, ERNAKULAM.
CHIEF MANAGER & AUTHORISED OFFICER, UNION BANK OF INDIA, UNION BANK BHAVAN, P.B.NO.3667, M.G.ROAD, ERNAKULAM.
BRANCH MANAGER, UNION BANK OF INDIA, KARUKUTTY BRANCH, ANGAMALY. BY ADV. SRI.A.S.P.KURUP, SC, UBI FOR 1 TO 4 THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 10/06/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: PETITIONERS' EXHIBITS: W.P.C.NO. 34971/2007 --------------------------------------------------------------------- EXT.P1 TRUE COPY OF STATEMENT OF ACCOUNT DT. 15-11-2007. EXT.P2 DO. DO. EXT.P3 DO. DO. EXT.P4 NOTICE DT. 10-7-2007. EXT.P5 NOTICE DT. 14-5-2007. EXT.P6 NOTICE DT. 10-7-2007. EXT.P7 NOTICE DT. 14-5-2007. EXT.P8 LETTER DT. 8-9-2007. EXT.P9 LETTER DT. 4-6-2007. EXT.P10 LETTER DT. 23-4-2007. EXT.P11 COMMUNICATION DT. 26-7-2007. EXT.P12 NOTICE DT. 26-9-2007. EXT.P13 NOTICE DT. 26-9-2007. EXT.P14 NOTICE DT. 26-9-2007. EXT.P15 NOTICE DT. 26-9-2007. EXT.P16 NOTICE DT. 26-9-2007. EXT.P17 NOTICE DT. 26-9-2007. EXT.P18 LETTER DT. 14-11-2007. EXT.P19 LETTER DT. 14-11-2007. EXT.P20 LETTER DT. 16-11-2007. EXT.P21 VALUATION REPORT. EXT.P22 DO. DO. EXT.P23 DO. DO. EXT.P24 DO. DO. EXT.P25 NOTICE DT. 10-7-2007. EXT.P26 NOTICE DT. 14-5-2007. EXT.P27 NOTICE DT. 14-5-2007. EXT.P28 NOTICE DT. 14-5-2007. EXT.P29 JUDGMENT IN W.P.C.NO. 34806/2007. EXT.P30 COPY OF AGREEMENT. EXT.P31 SURVEY MAP. EXT.P32 REQUEST DT. 18-3-2008. RESPONDENTS' EXHIBITS: -------------------------------------- EXT.R4A VALUATION REPORT DT. 6-10-2005. EXT.R4B LETTER DT. 28-6-2007. EXT.R4C LETTER DT. 28-6-2007. EXT.R4D LETTER DT. 28-6-2007 EXT.R4E LETTER DT. 27-7-2007. EXT.R4F LETTER DT. 30-7-2007. EXT.R4G REPLY DT. 21-11-2007. EXT.R4H REPLY DT. 21-11-2007. [TRUE COPY] P.S TO JUDGE. S. Siri Jagan, J. =-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-=-= W. P (C) No. 34971 of 2007 =-=-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-= Dated this, the 10th June, 2008. J U D G M E N T Petitioners are challenging proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. At the time of admission, this Court granted an interim stay on condition that the petitioners remit Rs. 50 lakhs on or before 29-2-2008 and a further sum of Rs. 50 lakhs on or before 31-3-2008. Admittedly, the said amount has not been paid.
2. It is settled law as held by the Supreme Court that proceedings under the Securitisation Act has to be challenged before the Debt Recovery Tribunal in an appeal as provided in Section 17 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. That being so, this writ petition is not maintainable. Accordingly, the same is dismissed without prejudice to the right of the petitioners to challenge the proceedings in an appeal, if, at this point of time, the petitioners can validly maintain such an appeal. Tds/ S. Siri Jagan, Judge.
Questions this judgment answers
Which statutory provisions did this judgment involve?
Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.
Which court decided this case, and when?
Kerala High Court, on 10 Jun 2008. The bench was S SIRI JAGAN.
Precedent status how later indexed judgments have treated this case
No known negative treatment found in the Courts & Cases corpus.
This is a result about the indexed corpus, not a finding that the judgment remains good law. Coverage may be incomplete.