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IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE THE CHIEF JUSTICE MR.S.MANIKUMAR &
THE HONOURABLE MR. JUSTICE SHAJI P.CHALY FRIDAY, THE 16TH DAY OF SEPTEMBER 2022 / 25TH BHADRA, 1944 WA NO. 1682 OF 2020 AGAINST THE JUDGMENT IN WP(C) 23097/2019 OF HIGH COURT OF KERALA APPELLANT/S:
1 GIRIJA BHASKARAN, AGED 55 YEARS BINUGIRI BHAVAN, K.G. FLOUR MILL ROAD, TEMPLE GATE P.O, THALASSERY, KANNUR-670 102
2 P. GOPALAKRISHNAN, ODUVIL HOUSE, PATTATHIL LANE, HOUSE NO. 51, CHEROOR, THRISSUR-680 008.
3 SHYAMALA NAIR, BUILDING NO. 45, SAT SWARUP SOCIETY, A WING, FLAT NO. 802, TILAK NAGAR, CHEMBUR, MUMBAI-400089
4 V.N. RAMACHANDRAN, SOPANAM HOUSE, P.O. PERAMANGALAM, THRISSUR-680
545
5 SASEENDRAN P.T, NAVANEETHAM, NEAR KSEB SUB STATION, P.O.
CHEVAYUR, KOZHIKODE-673 017
6 U.S. SACHIDANANDAN, SANNIDHI, KSHB ROAD, THIRUVENKIDAM, GURUVAYUR-680
101
7 WG.CDR. P.V.ACHUTHAN, NO. 1619, 1ST CROSS, RAMESH ROAD, T. DASARAHALLI, BANGALORE-560 057
8 ARUN K. MENON, VADAKKEMADOM,VALIYAKULANGARA P.O, MAVELIKKARA-690
104
9 VIJAYA RAGHAVAN KOMATH, ACHUTHAM P.O, MUNDAYAD, KANNUR-670 594
10 GEETHA DEVANAND, ACHUTHAM P.O, MUNDAYAD, KANNUR-670 594.
11 SADASHIVAN PILLAI, G. SARASWATHY MANDIRAM, LEKSHMINAD, CUTCHERY, KOLLAM, KERALA-691 013. 12 DR. ANANTHAN K.R, THRIPRAYAT HOUSE,THIRUVAMBADI P.O, THRISSUR, KERALA-680 022
13 DR. THILAKAN T.C, DIL, MULANKUNNATHKAAVU P.O, THRISSUR-680 581
14 K.S. KESAVAPRASAD, KUTTAMKULANGARA HOUSE, P.O.CHOONDAL, CHAMMANTHATTA VILLAGE, PUTHUSSERY DESOM, THALAPPILLY THALUK, PIN-680 522
15 K.S. RAVIPRASAD, KUTTAMKULANGARA HOUSE, P.O. CHOONDAL, CHAMMANTHATTA VILLAGE, PUTHUSSERY DESOM, THALAPPILLY TALUK, PIN-680 522
16 LAL KANNOTTIL, OPP. ASWINI HOSPITAL, OTTAPALAM-679 101, PALAKKAD DIST.
17 LALITHA JAYACHANDRAN, KRISHNA KRIPA,KUNNATH HOUSE, P.O. MUNDOOR, PORIYANI DESOM, PALGHAT 678 592.
18 SHYAM KUMAR NAIR, CHAITHANYAM, PERINGILIPURAM, ENNAKKAD P.O, CHENGANOOR-689 624, REPRESENTED BY HIS POWER OF ATTORNEY, ARUN K. KRISHNAN, CHAITHANYAM, PERINGILIPURAM, ENNAKKAD P.O, CHENGANOOR-689 624
19 SAJI KUMAR KUZHIMANNIL VASUDEVAN PILLAI, NANDANAM HOUSE, KOIPURAM P.O, CHENGANNOOR, PATHANAMTHITTA-689 531
20 ANNIE MATHEW, PULIKOTTIL HOUSE, P.O. PUNKUNNAM, TRISSUR DIST.-
680 002.
21 RAJEEVAN THAZHATHUVEETTIL, THAZHATHUVEETIL HOUSE, P.O.THALIPARAMBU VILLAGE, KANNUR-670 141
22 NADUVILETTIYAT GOVINDAN, GEETHAM CHUNDA, P.O. MOTTAMMAL, KANNAPURAM DESOM, KANNUR-670 331.
23 AJITHA THARIYAN, R.H. NO. 1/1/XIII, SHRI. SIDHI GANESH CHS, SECTOR-2E, AIROLI, NAVI MUMBAI-400 708
24 PRAMOD R, NAYANAM, PUTHUKOD P.O, CHAVARA, KOLLAM-691 585
25 V.K. RAJU, TC. 18/9(5), P.O. TIRUMALAI, TRIKKANNAPURAM DESOM, TRIVANDRUM-695 006
26 SHAJI U, SOPANAM HOUSE, P.O. PERUMUDIYUR, PALAKKAD-679 303 BY ADV RAHUL VENUGOPAL RESPONDENT/S:
1 THE STATE OF KERALA, REPRESENTED BY THE SECRETARY, DEPARTMENT OF HOUSING, 1ST FLOOR, NORTH BLOCK, SECRETARIAT, THIRUVANANTHAPURAM-695 001
2 INSPECTOR GENERAL OF POLICE,(ECONOMIC OFFENCES WING)
VAZHUTHAKKAD, THIRUVANANTHAPURAM-695 014
3 THE JOINT DIRECTOR, ENFORCEMENT DIRECTORATE, KOCHI ZONAL OFFICE,KANOOS CASTLE, MULLASSERY CANALROAD WEST, COCHIN-682 011
4 REGISTRAR OF CO-OPERATIVE SOCIETIES, OFFICE OF THE REGISTRAR OF CO-OPERATIVE SOCEITIES, RAJAJI NAGAR MARKET ROAD, STATUE, THYCAUD, THIRUVANANTHAPURAM, KERALA-695 001
5 THE RESERVE BANK OF INDIA, NEW CENTRAL OFFICE BUILDING, SHAHID BHAGAT SINGH RD, FORT, MUMBAI, MAHARASHTRA 400 001, REPRESENTED BY GENERAL MANAGER (OFFICER IN CHARGE), REGIONAL OFFICE, ERNAKULAM NORTH, KOCHI-
682 018
6 INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA, ICAI BHAWAN, INDRAPRASHTA MARG, NEW DELHI-110
002, REPRESENTED BY ITS PRESIDENT.
7 REGISTRAR OF COMPANIES (ERNAKULAM)
COMPANY LAW BHAWAN, BMC ROAD, THRIKKAKARA, KOCHI-
682 021.
8 M/S. MOHANDAS AND ASSOCIATES, CHARTERED ACCOUNTANTS, CHARTERED ACCOUNTANTS, DOOR NO. TC-XXIX/567, PALIYAM ROAD, TRISSUR-680
001, REPRESENTED BY ITS MANAGING PARTNER, MOHANDAS.
9 VALSAN PANIKAR, MALANA HOUSE, PERUMBADAPPU DESOM VILLAGE, PONNANI TALUK, MALAPPURAM DISTRICT-679 580, NOW RESIDING AT 19, NAKSHATHRA INN VILLA, THYCAD, CHITTATTUKARA VALAVU, ROAD, TRISSUR-680 104, MANAGING DIRECTOR, VASTHUHARA DEVELOPERS AND REAL ESTATE LTD.
10 MUHAMMED VEETTILAYIL, VETTILAYIL HOUSE, PUNNAYOORKULAM VILLAGE,DESOM, CHAVAKKAD TALUK, CHAIRMAN, VASTHUHARA DEVELOPERS AND REAL ESTATE LTD..
11 PADAYATTIL JACOB SIMON, PADAYATTIL HOUSE, PURANATTUKARA VILLAGE, DESOM, THRISSUR TALUK, DIRECTOR, VASTHUHARA DEVELOPERS AND REAL ESTATE LTD..
12 ULLAS T.P.
THACHAPPULLY HOUSE, ENGANDIYOOR VILLAGE, DESOM, CHAVAKKAD TALUK, FORMER DIRECTOR, VASTHUHARA DEVELOPERS AND REAL ESTATE LTD.
13 HANEESH, KANDRACHERY HOUSE, PUNNAYOORKULAM VILLAGE, DESOM, CHAVAKKAD TALUK, FORMER DIRECTOR, VASTHUHARA DEVELOPERS AND REAL ESTATE LTD.
14 QAMARUL EID K.
KANAKOTH HOUSE, KADIKKADU VILLAGE, CHAVAKKAD TALUK, FORMER DIRECTOR, VASTHUHARA DEVELOPERS AND REAL ESTATE LTD.
15 KRISHNAKUMAR PATTATHIL.
JYOTHISH HOUSE, ERAVU DESOM, ERAVU VILLAGE, THRISSUR, FORMER CHAIRMAN, VASTHUHARA DEVELOPERS AND REAL ESTATE LTD.
16 M/S. VASTHUHARA DEVELOPERS AND REAL ESTATE LTD, DOOR NO. 31/25/1, FIRST FLOOR, THOMMANA HOUSE, PUNKUNNAM, GURUVAYUR-680 002, KERALA, REPRESENTED BY IT'S MANAGING DIRECTOR, VALSAN PANIKKAR.
17 M.K.ABDUL SALAM, P.O. ETTUMANA,CHERPU, THRISSUR-680 711,FORMER PRESIDENT, THRISSUR DISTRICT CO-OPERATIVE BANK LIMITED.
18 THRIVIKRAMAN PILLAI, PRASHANTHI, KAILASH NAGAR, POOVENI TEMPLE ROAD, KOLAZHY, PIN-680 010, FORMER MANAGER, THRISSUR DISTRICT CO-OPERATIVE BANK LTD.
19 THRISSUR DISTRICT CO-OPERATIVE BANK LTD, HEAD OFFICE, SAHAKARANA SATHABDHI MANDIRAM, KOVILAKATHUMPADAM, P.O. THIRUVAMPADI THRISSUR-
680022, REPRESENTED BY ITS CHEIF MANAGER.
BY ADVS.
SRI. P.GOPAL SMT. DHANUJA M S FOR APPELLANT;
SRI. P C SASIDHARAN THIS WRIT APPEAL HAVING COME UP FOR ADMISSION ON
16.09.2022, ALONG WITH WA.1712/2020, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE THE CHIEF JUSTICE MR.S.MANIKUMAR &
THE HONOURABLE MR. JUSTICE SHAJI P.CHALY FRIDAY, THE 16TH DAY OF SEPTEMBER 2022 / 25TH BHADRA, 1944 WA NO. 1712 OF 2020 AGAINST THE JUDGMENT IN WP(C) 32515/2019 OF HIGH COURT OF KERALA APPELLANT/S:
1 SHINU K.V.
AGED 45 YEARS KURUATH HOUSE, P.O.KANJANY,TRISSUR-680 612
2 C.BABU RAJENDRAN THERAYAMGOT HOUSE, CHEMMATHURE (PO) VATAKARA, KOZHIKODE-673 104 BY ADV RAHUL VENUGOPAL RESPONDENT/S:
1 THE STATE OF KERALA REPRESENTED BY THE SECRETARY, DEPARTMENT OF HOUSING ,1ST FLOOR, NORTH BLOCK, SECRETARIAT, THIRUVANANTHAPURAM-695 001
2 REGISTRAR OF CO-OPERATIVE SOCIETIES, OFFICE OF THE REGISTRAR OF CO-OPERATIVE SOCIETIES, RAJAJI NAGAR MARKET ROAD,STATUE, THYCAUD, THIRUVANANTHAPURAM,KERALA-695 001
3 THRISSUR DISTRICT CO-OPERATIVE BANK LIMITED, HEAD OFFICE, SAHAKARANA SATHABDHI MANDIRAM,KOVILAKATHUMPADAM, P.O THIRUVAMPADI THRISSUR-680 022, REPRESENTED BY ITS AUTHORISED OFFICER
4 M/S. VASTHUTHARA DEVELOPERS AND REAL ESTATE LTD., DOOR NO.31/25/1, FIRST FLOOR, THOMMANA HOUSE, C.ACHUTA MENON ROAD, SHRI KRISHNA TEMPLE, PUNKUNNAM, GURUVAYUR-680 002, KERALA, REPRESENTED BY ITS MANAGING DIRECTOR, VALSAN PANIKKAR BY ADVS.
SRI. P.GOPAL SMT. DHANUJA M S FOR APPELLANT;
SRI. P C SASIDHARAN THIS WRIT APPEAL HAVING COME UP FOR ADMISSION ON
16.09.2022, ALONG WITH WA.1682/2020, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
J U D G M E N T
Shaji P. Chaly, J.
Petitioners in W. P. (C) Nos. 23097 and 32515 of 2019 have filed the captioned writ appeals challenging the common judgment of the learned Single Judge dated 02.03.2020 whereby the following reliefs sought for by the petitioners were declined:-
2. Reliefs sought for in W. P. (C) No. 23097 of 2019 are as follows:-
“i) Call for the records leading to Exhibit P5 and quash Exhibits P4 and P5 by issuing a writ of certiorari or any other appropriate writ order or direction;
ii) Issue a writ of mandamus or any other appropriate writ, order or direction directing the 1st respondent to take over and complete the construction work of the project, Vastuhara Vastugramam, at Guruvayoor and handover the same to the petitioners after obtaining completion certificate;
iii) Issue a writ of mandamus or any other appropriate writ, order or direction directing the 5th respondent to conduct a forensic audit of the accounts of the 16th respondent company;
iv) Issue a writ of mandamus or any other appropriate writ, order or direction directing respondents 6 and 7 to take appropriate action against the 8th respondent, Statutory Auditor of the 16th respondent Company;
v) Issue a writ of mandamus or any other appropriate writ, order or direction directing the 2nd and 3rd respondents to investigate the corporate fraud and money laundering committed by respondents 8 to 19 and to fix liability on them;
vi) Issue a writ of mandamus or any other appropriate writ, order or direction directing 7th respondent to cancel the registration of the 16th respondent company and to initiate appropriate action against respondents 9 to 15, Directors and promoters;
vii) Issue a writ of mandamus or any other appropriate writ, order or direction directing the respondents 8 to 16 to deposit the monies illegally diverted by them before this Hon'ble court;
viii) Issue a writ of mandamus or any other appropriate writ, order or direction directing the 4th and 5th respondents to initiate appropriate action against respondent 17 to 18 for colluding and conniving with respondents 8 to 16 in committing the corporate fraud and money laundering in total violation of Exhibits P30 and P31 and other master circulars of the 5th respondent;
ix) Issue a writ of mandamus or any other appropriate writ, order or direction directing the 1st respondent to ensure that housing projects are completed in a time-bound manner as contemplated in RERA and home buyers are not defrauded;
x) Appoint a court receiver for the project until the disposal of this writ petition.”
3. Reliefs sought for in W. P. (C) No. 32515 of 2019 are as follows:-
“i) Call for the records leading to Exhibit P7 and quash Exhibits P6 and P7 by issuing a writ of certiorari or any other appropriate writ order or direction;
ii) Issue a writ of mandamus or any other appropriate writ, order or direction directing the 1st respondent to take over and complete the construction work of the project, Vastuhara Vastugramam, at Guruvayoor and handover the same to the petitioners after obtaining completion certificate;
iii) Issue a writ of mandamus or any other appropriate writ, order or direction directing the 4th respondent to deposit the monies illegally diverted by it before this Hon'ble court;
iv) Issue a writ of mandamus or any other appropriate writ, order or direction directing the 1st respondent to ensure that housing projects are completed in a time-bound manner as contemplated in RERA and home buyers are not defrauded;
v) Appoint a court receiver for the project until the disposal of this writ petition.”
4. The subject issue arises under the SARFAESI Act, 2002. The appellants are purchasers of residential apartments in the multi storied building constructed by the 4th respondent in W. A. No. 1712 of 2020 namely M/s Vasthuhara Developers and Real Estate Ltd., Punkunnam, Guruvayur. Apparently, the builder has availed loan from M/s Thrissur District Co-operative Bank Ltd., the 3rd respondent in W. A. No. 1712 of 2020, mo
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