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IN THE HIGH COURT OF KERALA AT ERNAKULAM
BASANT BALAJI, J
SUSEELA. S – Appellant
Versus
THE AUTHORIZED OFFICER, KERALA STATE CO-OPERATIVE BANK LTD – Respondent
| Table of Content |
|---|
| 1. loan default and subsequent secured asset proceedings. (Para 1) |
| 2. court's direction for compliance and alternative recourse. (Para 2) |
| 3. final ruling on the dismissal of the petition. (Para 3) |
JUDGMENT
(Dated this the 19th day of December, 2025)
The petitioner’s son availed a term loan for an amount of Rs.10 lakhs from the respondent-Bank. The loan was availed by mortgaging the petitioner’s property as secured assets. When default occurred in repayment, the bank initiated proceedings under SARFAESI Act and issued Ext.P1 sale notice. Aggrieved by this, the petitioner has approached this Court.
2. On 24.11.2025, this Court granted an interim order staying all further proceedings pursuant to Ext.P1, on condition that the petitioner remits an amount of Rs.5 lakhs within a period of one month. Today, when the case is taken for consideration, it is submitted that the said direction has not been complied with.
3. In such circumstances, the remedy available to the petitioner is to approach the Debts Recovery Tribunal under Section 17 of the SARFAESI Act , in view of the decision of the Hon’ble Apex Court inSouth Indian Bank Ltd v. Naveen Mathew Philip [(2023) 17 SCC 311] .
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