Judgment
IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR.JUSTICE N.NAGARESH TUESDAY, THE 12TH DAY OF DECEMBER 2023 / 21ST AGRAHAYANA, 1945 WP(C) NO. 40894 OF 2023 PETITIONER:
MUHAMMED ZAIN SHABEER P.P AGED 32 YEARS DIRECTOR, RADEON TRADING (OPC) PVT. LTD.
S/O. SULAIMAN P.P, PUTHANPEEDIKAYIL HOUSE, ARANGOTTUKARA P.O, THIRUMITTACODE-1, PALAKKAD DT. KERALA, PIN – 679533 BY ADV A.HAROON RASHEED RESPONDENTS:
1 STATE BANK OF INDIA REPRESENTED ITS AUTHORIZED OFFICER, ASSET RECOVERY MANAGMENT BRANCH, M.G. ROAD ERNAKULAM, PIN - 682011 2 NABEESA AGED 52 YEARS W/O. A.M PAREED, ARANGATH PARAMBIL HOUSE, KUMARANELLUR P.O, THALAPPILLY TALUK, THRISSUR DISTRICT, PIN – 680590 SRI.JITHESH MENON THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 12.12.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WP(C) No.40894 of 2023 2 JUDGMENT Dated this the 12th day of December, 2023 The petitioner states that he is serving as the Director of One Person Company (OPC) named Radeon Trading OPC Private Limited. The petitioner occupies a tenanted premises.
In view of the default committed by the landlord in repayment of loan advanced by the 1st respondent-Bank, the 1st respondent is going to take over possession of the building which includes the area tenanted out to the petitioner.
2.
The petitioner states that no notice has been given to the petitioner so far. If the petitioner, who is a tenant, is forcefully evicted under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, the petitioner will be put to irreparable loss and injury. The petitioner therefore seeks to direct the Bank not to evict the petitioner from the security
WP(C) No.40894 of 2023 3 asset pursuant to Ext.P8 notice.
3.
Standing Counsel entered appearance on behalf of the 1st respondent-Bank and resisted the writ petition. The Standing Counsel denied all the allegations made by the petitioner in the writ petition. On behalf of the 1st respondent, it is pointed out that the petitioner was aware of the securitisation proceedings much earlier. The petitioner did not approach the Debts Recovery Tribunal for any relief in the matter. Now, when the possession of the property was sought to be taken over, the petitioner has rushed to this Court filing the writ petition. The petitioner has not advanced any legal grounds challenging the securitisation proceedings initiated by the 1st respondent. The writ petition is therefore liable to be dismissed, contended the Standing Counsel for the 1st respondent-Bank.
4.
Heard the learned counsel for the petitioner and the learned Standing Counsel representing the 1st respondent.
WP(C) No.40894 of 2023 4 5.
The claim of the petitioner is that he is a tenant in the premises, which is the secured asset obtained by the Bank for advancing financial assistance to the 2nd respondent.
Section 17 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 was amended by the Amendment Act 44 of 2016 whereunder the tenants of a building which is a secured asset, have been giving a right to approach the Debts Recovery Tribunal for any relief against the action of the Bank authorities. When there is a specific provision in the Securitisation Act, I am of the view that the petitioner has to approach the Debts Recovery Tribunal under Section 17 of the Act, 2002.
In the circumstances, the writ petition is disposed of without granting any relief to the petitioner, but at the same time, granting liberty to the petitioner to approach the Debts Recovery Tribunal under Section 17 of the Act, 2002. It is made clear that while considering the question of limitation,
WP(C) No.40894 of 2023 5 the Debts Recovery Tribunal shall exclude the period during which the petitioner has been prosecuting this writ petition before this Court.
Sd/- N.NAGARESH JUDGE spk
WP(C) No.40894 of 2023 6 APPENDIX OF WP(C) 40894/2023 PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE LEASE DEED EXECUTED BETWEEN PETITIONER AND 2ND RESPONDENT DATED 1/10/2022 Exhibit P2 TRUE COPY OF THE CERTIFICATE OF INCORPORATION OF COMPANY Exhibit P3 TRUE COPY OF THE EXPORT AND IMPORT LICENSE OF THE COMPANY DATED 12.6.2020 Exhibit P4 TRUE COPY OF THE GST REGISTRATION CERTIFICATE
OF
COMPANY
DATED 12.11.2020 Exhibit P5 TRUE COPY OF THE BANK RECEIPT FOR MONTHLY
RENT
REMITTED
BY
THE PETITIONER TO LAND LORD DATED 12/10/2023 Exhibit P6 TRUE COPY OF THE INSURANCE CERTIFICATE OF WAREHOUSE OF THE COMPANY DATED 8.2.2023 Exhibit P7 TRUE COPY OF THE PHOTOGRAPHS OF WAREHOUSE OF THE COMPANY Exhibit P8 TRUE COPY OF THE NOTICE ISSUED UNDER SECTION 13 (4) SARFAESI ACT ISSUED BY THE BANK TO THE 2ND RESPONDENT DATED 10/2/2023