IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR.JUSTICE N.NAGARESH TUESDAY, THE 2^ND DAY OF JULY 2024 / 11TH ASHADHA, 1946 WP(C) NO. 21857 OF 2023 PETITIONER:

THE AUTHORIZED OFFICER, AGED 50 YEARS THE PEOPLE'S URBAN CO-OPERATIVE BANK LTD NO.51, HEAD OFFICE AT TRIPUNITHURA, PIN – 682301 BY ADV DEVAPRASANTH.P.J.

RESPONDENTS:

1 THE ADDL. CHIEF JUDICIAL MAGISTRATE, THE ADDL. CHIEF JUDICIAL MAGISTRATE'S COURT, (SPL. COURT FOR TRIAL AGAINST PRESENT AND FORMER MP'S & MLA'S, KERALA), DISTRICT COURT, ERNAKULAM - 682032 (IMPLEADED AS THE STATUTORY AUTHORITY UNDER SECTION 14 OF THE SARFAESI ACT)

2 UNION OF INDIA, REPRESENTED BY THE SECRETARY TO MINISTRY OF FINANCE, NEW DELHI, PIN - 110001 ADDL.R3 SMT.VIJAYAKUMARI W/O.RAGESHKUMAR, RESIDING AT KRISHNAMURTHAM

32/3037-D, PONNURUNNI, VYTILLA P.O., PONNURUNNI DESOM, POONITHURA VILLAGE, KANAYANNUR TALUK, ERNAKULAM DISTRICT 682 019.

ADDL.R4 SRI.RAGESHKUMAR AGED 62 YEARS SON OF DHAMODHARAN, RESIDING AT KRISHNAMURTHAM, 32/3037-D, PONNURUNNI, VYTILLA P.O., PONNURUNNI DESOM, POONITHURA VILLAGE, KANAYANNUR TALUK, ERNAKULAM DISTRICT 682 019 ADDL.R5 SRI.RAJEEV AGED 54 YEARS SON OF MADHAVAN, RESIDING AT THEKKUMKARAYIL HOUSE, PANANGAD P.O., PANANGAD DESOM, KUMBALAM VILLAGE, KANAYANNUR TALUK, ERNAKULAM DISTRICT - 682 506 (ADDITIONAL RESPONDENTS 3 TO 5 ARE IMPLEADED AS PER ORDER DATED 02.07.2024 IN IA.NO.1/2024 IN WPC.21857/2024)

BY ADVS.

SRI.T.C. KRISHNA, SCGC SRI.S. GOPINATHAN, SR. GOVERNMENT PLEADER N.K.SHYJU GIREESH PANKAJAKSHAN(K/692/2009)

ANANYA M.(K/987/2022)

VISHNU MOHAN(K/2129/2022)

THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 02.07.2024, ALONG WITH WP(C).21963/2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR.JUSTICE N.NAGARESH TUESDAY, THE 2^ND DAY OF JULY 2024 / 11TH ASHADHA, 1946 WP(C) NO. 21963 OF 2023 PETITIONER:

THE AUTHORISED OFFICER, AGED 50 YEARS THE PEOPLE'S URBAN CO-OPERATIVE BANK LTD NO.51, HEAD OFFICE AT TRIPUNITHURA, ERNAKULAM, PIN – 682301 BY ADV DEVAPRASANTH.P.J.

RESPONDENTS:

1 THE ADDL. CHIEF JUDICIAL MAGISTRATE, THE ADDL. CHIEF JUDICIAL MAGISTRATE COURT, (SPL. COURT FOR TRIAL AGAINST PRESENT AND FORMER MP'S & MLA'S, KERALA), DISTRICT COURT, ERNAKULAM 682 032, (IMPLEADED AS THE STATUTORY AUTHORITY UNDER SECTION 14 OF THE SARFAESI ACT)

2 UNION OF INDIA, REPRESENTED BY THE SECRETARY TO MINISTRY OF FINANCE, NEW DELHI, PIN – 110001 ADDL.R3 SRI.SANTHOSH KUMAR, AGED 52 YEARS, S/O. C.N. RAJAPPAN, RESIDING AT 'SREEMANGALAM', CHENNANKULANGARA TEMPLE ROAD, PONEKKARA, EDAPPALLY P.O., EDAPPALLY NORTH VILLAGE, KANAYANNUR TALUK, ERNAKULAM DISTRICT - 682 024.

[ADDITIONAL 3RD RESPONDENT IS IMPLEADED AS PER ORDER DATED 12/9/2023 IN I.A-1/2023 IN WP(C)

21963/2023]

BY ADV M N MANMADAN, CGC SRI.S.GOPINATHAN, SR. GOVERNMENT PLEADER THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 02.07.2024, ALONG WITH WP(C).21857/2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

CR N. NAGARESH, J.

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W.P.(C) Nos.21857 and 21963 of 2023 `````````````````````````````````````````````````````````````

Dated this the 2<sup>nd</sup> day of July, 2024

J U D G M E N T

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Where a secured creditor who bid for the immovable property on its own behalf as permitted under Section 13(5A) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 and has purchased the property, can resort to Section 14 for taking over physical possession of the secured asset? Whether a secured creditor, who has bid for the secured asset, ceases to be a secured creditor after purchase of the immovable property? These are the legal questions arising for consideration in these writ petitions.

2. These writ petitions have been filed by the Authorised Officer of the People's Urban Co-operative Bank Limited, Thrippunithura. The petitioner filed MC No.188/2021 and MC No.906/2022 before the Additional Chief Judicial Magistrate's Court, Ernakulam invokin