HIGH COURT OF KERALA
HARISANKAR V. MENON, J
M/S INKEL LTD. – Appellant
Versus
THE FEDERAL BANK LIMITED – Respondent
JUDGMENT
The petitioner, a public limited company has filed the captioned writ petition, seeking for a direction to respondents to return the original sale deed No.701/2014 of Koothattukulam Sub Registrar’s Office (SRO).
2. The short facts necessary for the disposal of this writ petition are as under:
The petitioner herein entered into a Limited Liability Partnership Agreement (LLP) with M/s.Seguro Foundation and Structures Pvt. Limited and was functioning under the name and style “Seguro - INKEL Consortium LLP”. The said LLP had obtained some credit facility from the 1st respondent herein for Rs.24 Crores, and the petitioner herein stood as guarantor, executing a corporate guarantee with the 1st respondent herein, mortgaging the properties covered by the sale deed No.701/2014 of Koothattukulam SRO. The guarantee executed by the petitioner is also produced along with this writ petition as Ext.P1, which would show that the petitioner stood as guarantor only as against the LLP referred to above. The 1st respondent herein filed O.A.No.158 of 2021 before the Debt Recovery Tribunal-I, Ernakulam (for short, ‘DRT’) against the LLP and the petitioner herein, since the LLP committed default in
Login now and unlock free premium legal research
Login to SupremeToday AI and access free legal analysis, AI highlights, and smart tools.
Login
now!
India’s Legal research and Law Firm App, Download now!
Copyright © 2023 Vikas Info Solution Pvt Ltd. All Rights Reserved.