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2026 Supreme(Online)(Ker) 31588
IN THE HIGH COURT OF KERALA AT ERNAKULAM
P. V. Balakrishnan, J
Joy Madathikunnel – Appellant
Versus
Chief Manager, South Indian Bank – Respondent
WP(C) No. 15656 of 2026
Important Points
Subject
Banking and Finance - SARFAESI Act Proceedings
Act Referred
Headnote
For the Appellants/Petitioners: J. Julian Xavier, Firoz K. Robin, Roy Joseph, Akhil P.C., Aswathy Susan Paul
For the Respondents: P.A. Augustine
| Table of Content |
|---|
| 1. initiation of legal challenge against coercive recovery steps taken by a financial institution. (Para 1 , 2) |
| 2. requirement to exhaust alternative statutory remedies before the debts recovery tribunal in sarfaesi matters. (Para 3 , 4) |
JUDGMENT
Dated this the 29th day of May, 2026 It is aggrieved by the coercive steps taken by respondents under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as the ‘SARFAESI Act’, for short), this writ petition has been preferred by the petitioner.
2. Heard the learned counsel for the petitioner and the learned Standing Counsel for the respondents.
3. The learned Standing Counsel appearing for the respondents vehemently opposed entertaining this writ petition and granting the reliefs to the petitioner since, he has an efficacious alternative remedy before the Debts Recovery Tribunal.
4. I find considerable force in the submissions made by the learned counsel for the respondents. The Honourable Apex Court in a catena of decisions including, the decisions in Phoenix ARC Pvt. Ltd. v. Vishwa Bharati Vidya Mandir and Others [2022 KHC OnLine 6040], South Indian Bank Ltd. (M/s.) v. Naveen Mathew Philip [2023 KHC OnLine
6435] and PHR Invent Educational Society v. UCO Bank [2024 KHC OnLine 6208], has categorically held that writ petitions against SARFAESI proceedings must not be entertained since, the aggrieved persons have an alternative and efficacious remedy before the Debts Recovery Tribunal.
In such circumstances, this writ petition is dismissed, without prejudice to the contentions and right of the petitioner to avail the statutory remedy.
