M/S E FAST TRANSPORTS LLP X v. THE SOUTH INDIAN BANK LTD
Case at a glance
- Bench
- N NAGARESH
Outcome
Disposed of
petition is disposed of
Provisions considered
Key paragraphs
- Para 44. In view of the above, I do not find it necessary to grant further time to the petitioner. Recording the submissions as made above, the writ petition is disposed of. Sd/- N.NAGARESH JUDGE WP(C) NO.10982 OF 2024 4 APPENDIX OF WP(C) 10982/2024 PETITIONER EXHIBITS…
Judgment
M/S E FAST TRANSPORTS LLP X EMPORA VIEWS, 2ND FLOOR, DOOR NO.33/6625, B3(B) MALAPARAMBA, KOZHIKODE, KERALA, REP. BY ITS DESIGNATED PARTNER SRI.HANEEFA.M., PIN – 673009 BY ADV N.K.SANATH KUMAR RESPONDENTS: 1 2 3 THE SOUTH INDIAN BANK LTD. HEAD OFFICE SIB HOUSE, T.B.ROAD, MISSION QUARTERS, THRISSUR 680 001 REPRESENTED BY ITS CHAIRMAN., PIN - 680001 CHIEF MANAGER & AUTHORIZED OFFICER SOUTH INDIAN BANK LTD, REGIONAL OFFICE KOZHIKODE, FIRST FLOOR, HAPPY TOWERS, VAIKKOM MOHAMMED BASHEER ROAD, MANANCHIRA KOZHIKODE., PIN - 673001 BRANCH MANAGER SOUTH INDIAN BANK, MAIN BRANCH DOOR NO.18/1175B, 1ST FLOOR, TT COMPLEX, JAIL ROAD, KOZHIKODE, PIN – 673004 SRI.P.A.AUGUSTINE-R1 TO R4 THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
18.03.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: WP(C) NO.10982 OF 2024 2 JUDGMENT Dated this the 18th day of March, 2024 The petitioner filed this writ petition seeking to grant a stay for three weeks, on further proceedings in C.M.P. No.160/2024 pending before the Chief Judicial Magistrate's Court, Kozhikode.
The petitioner states that the petitioner wants to challenge the order passed under Section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 by the Chief Judicial Magistrate's Court, Kozhikode and has applied for a certified copy of the judgment. Once the certified copy of the judgment is received, the petitioner will file S.A before the Debts Recovery Tribunal under Section 17 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. Unless a WP(C) NO.10982 OF 2024 3 breathing time is granted, the Bank is likely to take over physical possession of the property, which will put the petitioner to great disadvantage, contends the counsel for the petitioner.
Standing Counsel, on instructions, submits that the petitioner has remitted an amount of 5 lakhs on ₹
16.03.2024 and has promised to close the loan account by
31.03.2024. The proceedings for taking possession of the property will not be given effect to till 31.03.2024.
Operative part
In view of the above, I do not find it necessary to grant further time to the petitioner. Recording the submissions as made above, the writ petition is disposed of. Sd/- N.NAGARESH JUDGE WP(C) NO.10982 OF 2024 4 APPENDIX OF WP(C) 10982/2024 PETITIONER EXHIBITS Exhibit P1 Exhibit P2 Exhibit P3 TRUE COPY OF THE DEMAND NOTICE DATED 28.7.2023 ISSUED U/S 13(2) OF THE SARFAESI ACT, 2002 TRUE COPY OF THE NOTICE DATED 27.2.2024 OF THE ADVOCATE COMMISSIONER TRUE COPY OF THE RECEIPT DATED 16.3.2024 ISSUED BY THE RESPONDENT BANK
Questions this judgment answers
What did the Court decide in this case?
The Court recorded the following disposition: petition is disposed of
Which statutory provisions did this judgment involve?
Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.
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.