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IN THE HIGH COURT OF KERALA AT ERNAKULAM
MR. C. JAYACHANDRAN, J
M/S. SREE MATHA COSMETIC INDUSTRIES – Appellant
Versus
THE BOARD OF DIRECTORS OF THE UCO BANK – Respondent
| Table of Content |
|---|
| 1. classification of account as n.p.a. (Para 2 , 3) |
| 2. contentions regarding ext.p2 notification. (Para 4 , 5 , 6) |
| 3. defense against claims of m.s.m.e benefits. (Para 7 , 8) |
| 4. supreme court ruling and obligations of m.s.m.es. (Para 9 , 10 , 11 , 12 , 13 , 14) |
JUDGMENT
Heard Sri. Mathew Nedumpara, learned counsel for the petitioner and Sri. H.Ramanan, learned Standing Counsel for respondents 1 to 3. Perused the records.
2. The solitary ground canvassed in this Writ Petition to challenge the proceedings, as per which, the petitioner's account was classified as a Non Performing Asset, is the non-adherence of the provisions of the Micro, Small and Medium Enterprises Development Act, 2006 (for short, 'M.S.M.E.D Act') and M.S.M.E notification number S.O.1432(E) dated 29.05.2015 (produced at Ext.P2). Inasmuch as the learned counsel appearing for the respective parties have been heard on this point, the Writ Petition itself is being disposed of by this judgment.
3. Brief facts: The petitioner availed an M.S.E cash credit facility from the 3rd respondent UCO Bank, Kollam branch, which was classified as a Non Performing Asset ('N.P.A', for short) on 31.07.2024. Invoking the provis
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