HIGH COURT OF KERALA
P.R.RAMACHANDRA MENON, J
JAYACHANDRAN – Appellant
Versus
THE AUTHORIZED OFFICER – Respondent
JUDGMENT
The petitioner availed a cash credit facility of Rs. 85 lakhs from the 1st respondent Bank, creating security interest over the property in question. Because of the adverse circumstances, the repayment could not be effected on time, as scheduled, which made the petitioner a defaulter and the Bank proceeded with the steps under the SARFAESI Act , after declaring the account as 'NPA'. The Bank sought to approach the concerned Chief Judicial Magistrate's Court by filing a petition under Section 14 of the Act, for getting vacant surrender of the premises, whereby an Advocate Commissioner came to be appointed, which made the petitioner to approach this Court with the following prayers :
i, Issue a writ of mandamus or any other appropriate writ, direction or order directing the respondents to keep in abeyance all proceedings pursuant to Exhibits P1 to P4 against the petitioners and their property having an extent of 10 cents comprised in Survey No. 1204/5-2-1 of Pattom Village, Thiruvananthapuram Taluk and another extent of
2.43 Ares of property in Resurvey No. 47/11-1 of Anavoor Village, Neyyattinkara Taluk, under the securization Act for a period of 5 months so as to enable the
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.