Thilakarajan.K.P vs. State Of Kerala
Held
The Court found that the OTS proposal was considered and sanctioned, but the petitioners failed to comply with its terms, and the Court cannot direct extension of OTS payment time. The relief regarding overdraft renewal was deemed unnecessary as facilities were reportedly renewed. The Court also held that the possession notice could not be quashed as petitioners have statutory remedies before the Debts Recovery Tribunal under the SARFAESI Act.
Facts
The petitioners, partners of a firm, defaulted on credit facilities from the respondent bank, leading to SARFAESI proceedings. After a previous writ petition directed consideration of their One Time Settlement (OTS) proposal, they filed the current petition alleging non-consideration of OTS, seeking renewal of overdraft facilities despite GST return delays, and challenging a possession notice issued by an Advocate Commissioner.
Key Issues
Whether the High Court can direct extension of time for payment under a One Time Settlement, and whether a SARFAESI possession notice can be quashed when statutory remedies are available before the Debts Recovery Tribunal.
Sections Cited
Section 14 of the SARFAESI Act
AI-generated summary — verify with the full judgment below
2025:KER:28204 WP(C) NO. 2453 OF 2024 1 IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. WEDNESDAY, THE 2ND DAY OF APRIL 2025 / 12TH CHAITHRA, 1947 WP(C) NO. 2453 OF 2024 PETITIONER/S: 1 THILAKARAJAN.K.P, AGED 51 YEARS S/O. NAROTH KUMARAN, KUNHIPARAMBATH HOUSE, POYILOOR, THRIPPANGOTTUR, THOOVAKKUNNU P.O., KANNUR, PIN - 670693 2 MURALIDHARAN.K., S/O.KUNHISANKARAN NAMBIAR, KADANNOLIL, POYILOORP.O., KANNUR, PIN - 670693 3 SANITHA.M, W/O. MURALEEDHARAN.K. KADANNOLIL, POYILOORP.O., KANNUR, PIN - 670693 4 REJELA.K.P, D/O. KUMARAN, PANICHINGENTAVIDA HOUSE, POYILOORP.O., KANNUR – ., PIN - 670693 5 ELSY.K.P, W/O. BALAKRISHNAN, PAREMMAL HOUSE, NORTH POYILOOR, POYILOORP.O., KANNUR – ., PIN - 670693 6 M/S. TEYEM SAND AND BRICKS, KOLAYAD, VAYANNOOR P.O., KANNUR DISTRICT - REPRESENTED BY ITS MANAGING PARTNER THILAKARAJAN.K.P., PIN - 670650 BY ADVS. K.C.SANTHOSHKUMAR K.K.CHANDRALEKHA RESPONDENT/S: 1 STATE OF KERALA, REPRESENTED BY THE SECRETARY TO GOVERNMENT, FINANCE DEPARTMENT, GOVERNMENT OF KERALA, THIRUVANANTHAPURAM, PIN - 695001
2025:KER:28204 WP(C) NO. 2453 OF 2024 2 2 M/S. SOUTH INDIAN BANK REGIONAL OFFICE, DOOR NO.4/11
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