IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE K.M.JOSEPH MONDAY, THE 17TH NOVEMBER 2008 / 26TH KARTHIKA 1930 WP(C).No. 32055 of 2008(N) ---------------------------------------------- PETITIONER(S): ---------------------- 1. M/S. MARY MATHA EDUCATION SOCIETY, A SOCIETY REG. NO. T-284/97, REGISTERED UNDER T.C. ACT, 1995 HAVING ITS REGISTERED OFFICE AT PALIYODE, DALUMUGHOM.P.O, NEYYATINKARA, THIRUVANANTHAUPRAM, REPRESENTED BY ITS CHAIRMAN R. MURUGAN. 2. R. MURUGAN, B.SC (ENGG) M.I.E, CHAIRMAN, M/S. MARY MATHA EDUCATION SOCIETY, REG. NO. T-284, PALIYODE, DALUMUGHOM.P.O, NEYYATTINKARA, THIRUVANANTHAPURAM. BY ADV. SRI.M.S.KALESH SRI.HARISH GOPINATH SRI.V.VINAY MENON SMT.KVP.JAYALEKSHMY SRI.M.AJAY (IRUMPANAM) RESPONDENT(S): -------------------------- 1. CHIEF MANAGER AND AUTHORISED OFFICER, KARNATAKA BANK LTD., REGIONAL OFFICE NO. 324, IST FLOOR, T.C. STREET, CHENNAI. 2. MANAGER, KARNATAKA BANK LTD., TRIVANDRUM BRANCH, TRIVANDRUM. ADV. SRI.P.B.SURESH KUMAR FOR R2 THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 17/11/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: K. M. JOSEPH, J. -------------------------------------- W.P.C. NO. 32055 OF 2008 N -------------------------------------- Dated this the 17th November, 2008 JUDGMENT The prayer in the Writ Petition is for a writ of mandamus directing the second respondent to issue all further notices in respect of further proceedings initiated against the first petitioner under the Securitisation And Reconstruction of Financial Assets & Enforcement of Security Interest Act to petitioners 1 and 2. Heard the learned counsel appearing for the petitioners and the learned counsel appearing on behalf of the second respondent. The case of the petitioners, in brief, is as follows: The first petitioner Society is running an educational institution. It had incurred debts and liabilities running into Crores. The second petitioner along with three others came to be inducted into the governing body of the Society vide Ext.P3. This was intimated to the second respondent by Ext.P4 from which the first petitioner had availed a loan of Rs.4 Crores. WPC. 32055/08 N 2 Proceedings under the SARFAESI Act came to be initiated. Ext.P5 is the possession notice. Ext.P6 is a complaint lodged by one Shri Wilson, the previous Chairman and Ext.P7 is the FIR lodged. It is stated that the second petitioner after he took charge as Chairman, deposited Rs.2.10 Crores and in this regard, reliance is placed on Ext.P8. By Ext.P9, it is stated that the fact of change in the governing body was also intimated to the Registrar of Co-operative Societies, Thiruvananthapuram. It is the case of the petitioners that on the basis of influence by certain members of the previous governing body, respondents 1 and 2 are bent upon bringing the property to sale, despite the fact that major portion of the liability being wiped out, without effective notice to the second petitioner. 2. Even though time was given for getting instructions, learned standing counsel for the respondent Bank again sought time. The Writ Petition is disposed of directing the second respondent to issue notice in respect of any further proceedings under the SARFAESI Act to the first petitioner represented by WPC. 32055/08 N 3 the second petitioner. I make it clear that I have not in any way pronounced on the rights of the second petitioner as such and if there is any dispute pending before any Court or other Forum, such Court or other Forum will proceed with the matter untrammelled by anything stated in this Judgment or the direction given by this court. I also make it clear that it will be open to the respondents to issue notice to any other person whom they consider necessary under the provisions of the Act. Sd/= K. M. JOSEPH, JUDGE kbk. // True Copy // PS to Judge