Abubucker .M v. The Authorized Officer

O R D E R [Order of the Court was made by R.SUBRAMANIAN, J.] In view of the fact that the Debts Recovery Tribunal, Madurai, is not manned, we are entertaining this writ petition.

¶2Mr.P.Pethu Rajesh, learned counsel, takes notice for the respondent - Bank.

¶3Considering the limited scope of the prayer sought for in this writ petition, notice to the private respondent, namely, the debtor is deemed unnecessary.

¶4With the consent of both sides, this writ petition is taken up for final hearing at the admission stage itself.

¶5Challenge in this writ petition is to the order dated 14.03.2023, passed in Cr.M.P.No.19376 of 2022, by the learned Chief Judicial Magistrate, Tirunelveli, under Section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.

¶6It is stated that the respondent – Bank has already taken possession of the secured asset.

¶7The petitioner being a guarantor offers to settle the entire due.

¶8Learned counsel for the petitioner would submit that the petitioner would offer Rs.3,00,000/- (Rupees three lakhs only) immediately.

¶9Considering the circumstances, this writ petition is disposed of with the following directions:

(i) The petitioner is to pay a sum of Rs.3,00,000/- (Rupees three lakhs only) to the respondent – Bank, by 15.07.2023.

(ii) The petitioner can make a representation to the respondent – Bank, which will be considered by them sympathetically, considering the fact that the petitioner is a guarantor and the respondent – Bank shall communicate its decision to the petitioner, within ten days from the date of decision.

(iii) If the settlement proposal is not accepted, the petitioner will pay the balance amount of Rs.13,95,351/- (Rupees thirteen lakhs ninety five thousand three hundred and fifty one only) along with subsequent interest and costs in three equal monthly

installments

commencing

from

01.08.2023.

(iv) The respondent – Bank shall not proceed further, if the petitioner complies with the payment terms as directed above.

(v) If the petitioner fails to comply with the above payment terms, the respondent – Bank can proceed further in accordance with law. No costs. Consequently, connected miscellaneous petitions are closed.

[R.S.M., J.] [L.V.G., J.]

27.06.2023 NCC : Index : Internet :

krk To: The Chief Judicial Magistrate, Tirunelveli. R.SUBRAMANIAN , J . and L.VICTORIA GOWRI , J . krk and W.M.P.(MD) Nos.12954, 12955 & 12956 of 2023

27.06.2023

BEFORE THE MADURAI BENCH OF MADRAS HIGH COURT DATED : 27.06.2023 CORAM: THE HONOURABLE MR.JUSTICE R.SUBRAMANIAN and THE HONOURABLE MRS.JUSTICE L.VICTORIA GOWRI and W.M.P.(MD) Nos.12954, 12955 & 12956 of 2023 M.Abubucker ... Petitioner -vs- 1.The Authorized Officer Axis Bank Limited Loan Center 4th Floor, Arcot Plaza Old No.38, New No.165 Arcot Road, Kodambakkam Chennai-600 024 2.The Branch Manager Agree Loan Axis Bank Thenkasi Branch Thenkasi Main Road Rajapalayam Virudhunagar District 3.Mohammedali ... Respondents PRAYER: Petition filed under Article 226 of the Constitution of India, to issue a writ of certiorarified mandamus, calling for the records of the impugned order passed by the learned Chief Judicial Magistrate, Tirunelveli, in Cr.M.P.No.19376 of 2022, dated 14.03.2023 and quash the same as illegal and consequently direct the respondents to handover the key of the house property situated in Door No.37, Ward No.5, M.K.T.Middle Street, Vasudevanallur, Tenkasi District. For Petitioner : Mr.A.Mohamed Hashim For Respondent : Mr.P.Pethu Rajesh for R1 & R2