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IN THE HIGH COURT OF KERALA AT ERNAKULAM
ANIL K.NARENDRAN, MURALEE KRISHNA S.
Immaculate Agro Spices Pvt. Ltd. – Appellant
Versus
Board of Directors of Axis Bank Ltd. – Respondent
| Table of Content |
|---|
| 1. petitioners' claims against banking actions. (Para 2 , 4) |
| 2. interim orders and their extensions. (Para 5 , 6) |
| 3. challenging interim orders and slp outcomes. (Para 8 , 10) |
| 4. arguments on maintainability in light of nbfc position. (Para 11 , 12) |
| 5. conclusion that the writ appeal lacks merit. (Para 15 , 16 , 18) |
JUDGMENT :
ANIL K. NARENDRAN, J.
1. The appellants are the petitioners in W.P.(C)No.42521 of 2025. The 1st appellant, namely, Immaculate Agro Spices Pvt. Ltd., is a company engaged in the trading of agricultural produce (spices), having Ext.P1 Udyam registration certificate dated 03.10.2020 issued by the 14th respondent Ministry of Micro, Small and Medium Enterprises. The 2nd appellant is the Managing Director, and the 3rd appellant is the Director of the 1st appellant company. The appellants-petitioners filed W.P.(C)No.42521 of 2025 before this Court on 12.11.2025, invoking the extraordinary jurisdiction under Article 226 of the Constitution of India, seeking the following reliefs:
“a) To declare that the notification dated 29.05.2015, in unmistakable terms, declares that the MSME-borrower has no obligation to make an application for resolution of stress and, o
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 ....
Banks must identify financial stress in MSME accounts as per notifications, and failures can lead to wrongful NPA classifications.
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 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.
Borrowers classified as MSMEs must assert their status before NPA classification to invoke benefits under the SARFAESI Act; failure to do so precludes subsequent claims.
The jurisdiction of a writ petition must align with the location where the cause of action arises, not merely the respondent's address.
Borrowers classified as MSMEs must assert their status before NPA classification to invoke benefits under the SARFAESI Act; failure to do so precludes subsequent claims.
Borrowers must timely assert MSME status to access protective benefits under the MSMED Act; simultaneous recovery proceedings under SARFAESI and RDB Acts are permissible.
Failure to assert MSME status prior to NPA classification precludes later claims for protection under the MSMED Act in SARFAESI proceedings.
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