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IN THE HIGH COURT OF KERALA AT ERNAKULAM
MURALEE KRISHNA S., ANIL K.NARENDRAN
G.K. Granites – Appellant
Versus
Board of Directors of South Indian Bank Ltd. – Respondent
| Table of Content |
|---|
| 1. claims regarding notifications by the msme. (Para 2) |
| 2. details about notifications and their implications. (Para 3) |
| 3. allegations of unlawful classification of accounts. (Para 4 , 6) |
| 4. petitioner's request for loan restructuring. (Para 5) |
| 5. details about the interim orders and submissions. (Para 7 , 8) |
| 6. arguments regarding the interim relief. (Para 9 , 10) |
| 7. contentions regarding appeals and prior petitions. (Para 11 , 12) |
| 8. observations on previous judgments impacting current cases. (Para 13 , 14 , 15) |
| 9. impacts of non-compliance with court orders. (Para 16 , 17) |
| 10. extension of time to meet court-directed obligations. (Para 19) |
| 11. discussions of interim orders and their implications. (Para 20 , 21 , 22) |
| 12. judicial references impacting the case. (Para 23 , 24) |
| 13. judicial standards governing appeals and conduct. (Para 25 , 26 , 27 , 29 , 30) |
| 14. moral obligations of parties in legal proceedings. (Para 28 , 31 , 32) |
| 15. finality of court orders and resolution. (Para 33 , 34 , 35 , 36 , 37 , 38 , 39) |
JUDGMENT :
ANIL K. NARENDRAN, J.
1. The appellant, a Micro, Small and Medium Enterprise (MSME) issued with Ext.P1 Udyam Certificate dated 24.03.2021 by the Ministry of M
Financial institutions must follow statutory procedures when dealing with MSME classification and recovery; non-compliance can render actions invalid, emphasizing the need for judicial adherence to e....
Financial institutions must follow statutory procedures when dealing with MSME classification and recovery; non-compliance can render actions invalid, emphasizing the need for judicial adherence to e....
The requirement for mandatory pre-deposit under the SARFAESI Act cannot be waived; failure to comply invalidates any appeals against recovery actions.
Banks must identify financial stress in MSME accounts as per notifications, and failures can lead to wrongful NPA classifications.
A writ petition cannot be entertained against SARFAESI Act proceedings when an adequate statutory remedy before the Debts Recovery Tribunal is available.
The applicability of MSME protections under the RBI circulars is limited to scheduled commercial banks, not non-banking financial companies, and prior judgments are binding irrespective of claims of ....
The High Court ruled that parties must reveal all material facts in writ petitions and that statutory remedies available under the SARFAESI Act must be pursued before invoking writ jurisdiction.
The High Court emphasized the necessity for statutory remedies under the SARFAESI Act rather than invoking Article 226, affirming that approaches must follow prescribed legal frameworks in financial ....
The High Court should not exercise jurisdiction under Article 226 in matters governed by the SARFAESI Act where effective remedies exist, and classification of accounts as NPAs is not subject to judi....
The classification of accounts as Non-Performing Assets (NPA) under the SARFAESI Act is valid if MSMEs do not timely assert their status, failing to invoke protections under the MSMED Act's revival f....
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