Kerala High Court
Icici Bank Limited vs Suresh Kumar Sarda on 30 October, 2025
WP(C) NO. 36255 OF 2023
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2025:KER:82746
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR.JUSTICE BASANT BALAJI
THURSDAY, THE 30TH DAY OF OCTOBER 2025 / 8TH KARTHIKA, 1947
WP(C) NO. 36255 OF 2023
PETITIONER:
ICICI BANK LIMITED
AGED 41 YEARS
HAVING ITS BRANCH OFFICE AT SECOND FLOOR,
PUSHPAMANGALAM ESTATE, NH BYE PASS, EDAPALLY,
COCHIN- 682024 REPRESENTED BY ITS POWER OF ATTORNEY
HOLDER MR. HARIKRISHNAN M
BY ADV SRI.PRADEESH CHACKO
RESPONDENTS:
1 SURESH KUMAR SARDA
AGED 47 YEARS
FLAT NO. 3G, ENARC APPARTMENT, THRISSUR VILLAGE
THRISSUR TALUK, MARAR ROAD, THRISSUR, PIN - 680001
2 VARSHA SARDA
AGED 42 YEARS
FLAT NO. 3G, ENARC APPARTMENT, THRISSUR VILLAGE
THRISSUR TALUK, MARAR ROAD, THRISSUR, PIN - 680001
3 CHEMPAKARA FINANCE PRIVATE LIMITED
DOOR NO.21/349/29, WEST FORT TOWER, WEST FORT
JUNCTION, CIVIL LANE, CIVIL LANE ROAD, WEST FORT,
THRISSUR, PIN - 680004
4 JMJ FINANCE
DOOR NO.21/349/29, WEST FORT TOWER, WEST FORT
JUNCTION, CIVIL LANE ROAD, WEST FORT, THRISSUR,
PIN - 680004
5 MALAYALAM BENEFIT FUND LTD
1ST FLOOR, KARTHIKA APPARTMENT, ENGANDIYOOR.P.O
THRISSUR, PIN - 680615
WP(C) NO. 36255 OF 2023
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2025:KER:82746
6 SATHEESH ASHOKAN
S/O AYYAPPATH ASHOKAN OLLUKARA VILLAGE,
PATTALAKKUNNU DESOM, THRISSUR TALUK,
THRISSUR DISTRICT, PIN - 680655
7 PRADEEP KUMAR
S/O SANKARAN PULICKAL HOUSE, KARYATTUKARA DESOM
ELTHURUTHU VILLAGE, THRISSUR TALUK,
THRISSUR DISTRICT, PIN - 680611
8 LYJU
S/O PONTHAKKANVEETTIL BABY, FLAT NO. 7A, PRECIOUS
CONTINENTAL, NEAR MALL OF JOY, THRISSUR TALUK,
THRISSUR, PIN - 680001
9 MATHRUKA LEASING AND HIRE PURCHASE COMPANY PRIVATE
LTD
25/1130/77/1, 3RD FLOOR , CITY CENTER, ROUND NORTH,
THRISSUR, KERALA, PIN - 680001
0 SUB REGISTRAR
OFFICE OF THE SUB REGISTRAR OFFICE THRISSUR
THRISSUR DISTRICT., PIN - 680001
GP SRI. K.M FAIZAL
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION
ON 30.10.2025, THE COURT ON THE SAME DAY DELIVERED THE
FOLLOWING:
WP(C) NO. 36255 OF 2023
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JUDGMENT
(Dated this the 30th day of October, 2025) The writ petition is filed with the following prayers:-
"a. Issue a writ of mandamus directing the 10th Respondent to allow registration of Exhibit P7 Sale Certificate of the sale of the immovable properties under Securitization and the Reconstruction of Financial Assets and Enforcement of the Security Interest Act 2002.
b. Issue such other order or direction, as this Hon'ble Court may deem just and necessary in the fact and circumstance of the case."
2. The petitioner Bank had advanced a housing loan of ₹27,70,890/- to respondents 1 and 2, secured by an equitable mortgage over immovable properties belonging to the 1 st respondent. Upon default, proceedings were initiated under the SARFAESI Act, and possession of the secured assets was taken pursuant to the order of the Chief Judicial Magistrate Court, Ernakulam.
3. Subsequently, while proceeding with the sale, the petitioner found that the mortgaged properties had been attached by the Munsiff's Court, Thrissur, the Munsiff's Court of Chavakkad, and the Sub Court, Thrissur. The petitioner contended that the equitable mortgage was created prior to the said attachments and that, being a secured creditor, it has priority and first charge over the mortgaged assets. WP(C) NO. 36255 OF 2023 4 2025:KER:82746
4. It is submitted that, due to the attachment orders, the registering authority has refused to effect registration of the sale/assignment without directions from this Court.
5. The issue raised in this writ petition is covered by the judgment of this Court in Fathima v. Canara Bank [2025 (3) KLT 367].
6. In view of the above, there will be a direction to the 10 th respondent to register Exhibit - P7 Sale Certificate, within one month from the date of presentation of the document for registration, subject to compliance with other requirements of law.
The writ petition is disposed of as above.
Sd/-
BASANT BALAJI JUDGE GBG WP(C) NO. 36255 OF 2023 5 2025:KER:82746 APPENDIX OF WP(C) 36255/2023 PETITIONER EXHIBITS Exhibit P1 POWER OF ATTORNEY Exhibit P2 CREDIT FACILITY APPLICATION DATED 30.10.2010 Exhibit P3 TRUE COPY OF THE NOTICE DATED 31ST AUGUST 2016 Exhibit P4 THE TRUE COPY OF THE ORDER DATED 9TH NOVEMBER, 2018 ON THE FILES OF THE CHIEF JUDICIAL MAGISTRATE COURT, THRISSUR Exhibit P5 TRUE COPY OF THE SALE NOTICE DATED ON 12TH AUGUST, 2022 Exhibit P6 TRUE COPY OF THE SAID SALE CONFIRMATION LETTER DATED 20TH SEPTEMBER, 2022 Exhibit P7 TRUE COPY OF THE SALE CERTIFICATE DATED 7TH OCTOBER, 2022 Exhibit P8 TRUE COPY OF THE ENCUMBRANCE CERTIFICATE DATED 31.10.2022