IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.K.ABDUL REHIM TUESDAY, THE 8TH DECEMBER 2009 / 17TH AGRAHAYANA 1931 WP(C).No. 32303 of 2009(G) -------------------------- PETITIONER(S): --------------- JAYAN,S/O.SANAKARANARAYANAN, PULICKAL VEETTIL,PUTHENCHIRA VILLAGE, MUKUNDAPURAM TALUK. BY ADV. SRI.K.I.SAGEER RESPONDENT(S): --------------- 1. AXIS BANK LTD.(FORMERLY KNOWN AS UTI BANK LTD.),RETAIL ASSETS CENTRE,41/418,CHICAGO PLAZA,RAJAJI ROAD,KOCHI-35.(REPRESENTED BY THE AUTHORISED OFFICER(SARFAESI)& ASSISTANT VICE PRESIDENT & HEAD OF RETAIL ASSETS CENTRE.). 2. A.RAJARAM,ADVOCATE,THRISSUR. 3. MITHUN NARAYANAN,S/O.K.V.NARAYANAN, "LOVE HUT",PEOPLE ROAD, VADUTHALA, KOCHI-682023. 4. K.V.NARAYANAN,"LOVE HUT",PEOPLE ROAD, VADUTHALA,KOCHI-682023. R1 BY ADV. SRI.G.BALAMURALEEDHARAN (PARAVUR) SRI.MATHEWS V.JACOB (PARAVUR) & SRI.N.T.NANDAKUMAR (PARAVUR) R2 BY ADV.SRI.C.HARIKUMAR THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 08/12/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: C.K.ABDUL REHIM,J. ------------------------------- WP(C).No.32303 of 2009 --------------------------------- Dated this the 8th day of December, 2009 JUDGMENT Petitioner is aggrieved by coercive steps initiated by the first respondent Bank, under section 14(1) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act 2002 (for short SARFAESI Act), against the secured asset in relation to a loan transaction between respondents 3 and 4 and the first respondent Bank. The petitioner is in fact a stranger to the loan transaction. But it is contended that the property which is now being proceeded against was in the ownership of the petitioner till he had effected sale by virtue of Ext.P2 deed, dated 2.2.2006. Contention of the petitioner is that on the date of execution of the sale Deed an agreement as evidenced by Ext.P1 was executed between the petitioner and respondents 3 and 4, to the effect of creating a charge on the property in favour of the petitioner. Hence the contention is that the petitioner is a person having interest in the property which is now proceeded against under the SARFAESI WPC.No. 32303/2009 2 Act. 2. It is stated that on the basis of Ext.P3 application filed by the first respondent before the Chief Judicial Magistrate Court, Thrissur,an order has already been issued in MP.No.6366/2009, on 12.10.2009. It is further stated that the petitioner had applied for a certified copy of the order, as per copy application submitted as evidenced from Ext.P4. But the Magistrate Court has not so far issued certified copy of the order. It is the grievance of the petitioner that he is precluded from filing appeal under section 17(1) of the Act since certified copy of the same was not obtained so far. Therefore petitioner seeks direction for issuing certified copy of the order and also to keep in abeyance further coercive steps for taking over possession of the property, till he could file appeal against the action initiated . 3. Having considered facts and circumstances I am of the opinion that the petitioner can be permitted to approach the appellate authority by filing appeal against the order issued by the Chief Judicial Magistrate Court. Under such circumstances the Chief Judicial Magistrate Court, Thrissur is directed to issue certified copy of the order dated 12.10.2009 , on the basis of WPC.No. 32303/2009 3 application if any submitted by the petitioner. The petitioner can approach the Debt Recovery Tribunal in appeal against such order, immediately on getting certified copy of the order. 4. In order to facilitate the petitioner to get certified copy of the order of the Chief Judicial Magistrate Court and also to file appeal before the DRT, coercive steps for taking over possession of the property pursuant to the order of the CJM shall be kept in abeyance for a period of one month, on condition of the petitioner remitting a sum of Rs.5 lakhs to the first respondent Bank within three weeks from today. C.K.ABDUL REHIM, JUDGE Pmn/ WPC.No. 32303/2009 4 WPC.No. 32303/2009 5