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Documents citing Usman vs Kerala Financial Corporation on 2 January, 2006

P.V.Chandran vs The Kerala Financial Corporation on 29 August, 2008

20. In our considered view, the learned senior counsel would have been fully justified in his submission that in view of Section 32G of the Financial Corporation Act and Section 32(2) of the Debt Recovery Tribunals Act, the Financial Corporation can enforce its liability only as provided under those provisions and not by resorting to the provisions of the Kerala Revenue Recovery Act. But, in view of the notification issued by the State Government, in exercise of its power under Section 71 of the Act, wherein the provisions of the Revenue Recovery Act are also made applicable to the recovery of amounts due from any person or class of persons to Kerala Financial Corporations Act, it is difficult to accept the submissions made by the learned Senior Counsel Sri.R.D.Shenoy. Keeping in view this aspect, a Division Bench of this Court in the case of Usman vs. Kerala Financial Corporation, 2007(2) KLT 604 has observed, that, "Government of Kerala has issued notification under S.71 of the Revenue Recovery Act making the provisions of the Act applicable to recovery of amounts due to the Kerala Financial Corporation, on finding that the amount recovered by proceeding WA No.58 of 2008 - 17 - under S.29 of the SFC Act is not sufficient to satisfy the debt due from the Company, the KFC was perfectly justified in proceeding against the personal guarantors for the loan given to the Company by resorting to proceedings under the Revenue Recovery Act. Mode of recovery under the SFC Act is in addition to and not in derogation of other modes of recovery and therefore it is perfectly within the powers of the KFC to invoke the Kerala Revenue Recovery Act to realize the amounts due to them despite the provisions of the SFC Act".
Kerala High Court Cites 19 - Cited by 0 - H L Dattu - Full Document

Nabeesath Missiriya.T.B vs State Of Kerala on 19 January, 2010

2. The case put forth by the petitioners is strongly rebutted from the part of the respondents by placing reliance on the judgment rendered in Usman vs. Kerala Financial Corporation (2007 (2) KLT 604), whereby it has been clearly held that when proceedings of takeover are initiated under SFC Act, simultaneous proceedings under the Revenue Recovery Act are also permissible, by virtue of the specific provisions as W.P(C) Nos. 15097, 15129, 15130 & 15131 OF 2009 2 contained in the State Financial Corporations Act ( SFC Act) enabling such exercise. The case of the petitioners, as projected in the Writ Petitions is that the said decision rendered by the Division Bench has already been subjected to challenge by filing SLP before the Supreme Court and the matter is pending consideration, simultaneously granting interim stay.
Kerala High Court Cites 4 - Cited by 0 - P R Menon - Full Document

Shijo Paul vs Canara Bank on 3 December, 2012

3. The decision relied by the learned counsel was distinguished by this Court in M.Usman Vs. Kerala Financial Corporation & Ors. (2006(2) KLJ 141). It was held that what is prohibited by the said decision of the Supreme Court is continuation of two alternate proceedings for recovery against the debtor and that there is no bar against initiating both remedies simultaneously and pursuing one after another. In M/s.Transcore Vs. Union of C.R.P.No.73 of 2013 2 India & Anr. (AIR 2007 SC 712) it is held, referring to the remedies available under the SARFAESI Act and the Recovery of Debts due to Banks and Financial Institutions Act that the doctrine of election would not apply and that remedy under the NPA Act is an additional remedy to the DRT Act.
Kerala High Court Cites 5 - Cited by 0 - T Joseph - Full Document

P.M.Aboobacker vs Kerala Financial Corporation on 2 September, 2010

2. The learned counsel for the petitioners fairly submits that the issue raised by the petitioners in this case stands clearly covered against them, by virtue of the judgment rendered by the Division Benches of this Court as reported in Usman v. Kerala Financial Corporation (2007 (2) KLT 604) and also in Shalini Ravindran v. Deputy Tahsildar (2010(2) KLT S.N. 7 Case No.8).
Kerala High Court Cites 4 - Cited by 0 - P R Menon - Full Document
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