Kerala High Court
Mathewkutty Varghese vs The Kerala State Co-Operative Bank Ltd on 4 December, 2008
Author: Thottathil B.Radhakrishnan
Bench: Thottathil B.Radhakrishnan
IN THE HIGH COURT OF KERALA AT ERNAKULAM
WP(C).No. 35893 of 2008(W)
1. MATHEWKUTTY VARGHESE, KORAYIL HOUSE,
... Petitioner
Vs
1. THE KERALA STATE CO-OPERATIVE BANK LTD,
... Respondent
2. THE BRANCH MANAGER, KERALA STATE
3. AUTHORISED OFFICER, REGIONAL OFFICE,
4. REGISTRAR OF CO-OP.SOCIETIES, OFFICE OF
5. STATE OF KERALA REPRESENTED BY THE
6. UNION OF INDIA REPRESENTED BY THE
For Petitioner :SRI.LIJI.J.VADAKEDOM
For Respondent :SRI.P.PARAMESWARAN NAIR,ASST.SOLICITOR
The Hon'ble MR. Justice THOTTATHIL B.RADHAKRISHNAN
Dated :04/12/2008
O R D E R
THOTTATHIL B. RADHAKRISHNAN, J.
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W.P(C)No.35893 of 2008-W
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Dated this the 4th day of December, 2008.
J U D G M E N T
The petitioner submits that he is a defaulter of loan availed from the first respondent. Following Ext.P2, the petitioner has placed Ext.P4, in reply to Ext.P3 notice under Section 13(2) of SARFAESI Act. Under normal circumstances, the said notice does not give any cause of action for a litigation, in the light of the law laid by the Apex Court in Mardia Chemicals Ltd. & others Vs. Union of India & others (2004(4) SCC 311). The case in hand however, shows that the petitioner's building caught fire and according to him, he sustained certain loss. I am surprised that even according to the bank, the hypotheticated building is not insured, at least at its instance.
Having regard to the peculiar facts and circumstances, it is directed that Ext.P4 will be considered by the Board of the 1st respondent at the earliest and appropriate decision taken. In the meanwhile, there will be no further distress action against the petitioner, if he pays an amount of Rs.3,00,000/- within a period of four weeks. The writ petition is ordered accordingly.
THOTTATHIL B.RADHAKRISHNAN,
ab 4/12 JUDGE