THE FEDERAL BANK LIMITED, VALLITHODE BRANCH, REPRESENTED BY ITS AUTHORISED OFFICER/CHIEF MANAGER, ASSET RECOVERY BRANCH, KOZHIKODE Vs. SMT. THAHIRA, W/O.ABDUL NAZAR A.K., SHAIK PALACE, MUZHAKUNNU, VILAKODE, KANNUR DISTRICT

JUDGEMENT

(1.) Petitioner has approached this Court challenging Ext.P14, an order passed by the Chief Judicial Magistrate, Thalassery, dismissing an application under Sec. 14 of the SARFAESI Act, 2002. The petitioner also seeks for a direction to implement Ext.P5 by directing the respondent 3 and 4 to remove respondents 1 and 2 from the secured asset of the Bank and hand over vacant possession of the same to the petitioner.

(2.) The facts involved in the writ petition would disclose that the petitioner Bank had taken proceedings against respondents 1 and 2 under the SARFAESI Act, when they committed default in payment of the dues. According to the Bank, symbolic possession of the secured asset was taken by affixture of notice, as evident from Ext.P2 dated 14.12.2009.

(3.) Though respondents 1 and 2 approached this Court challenging the sale notice published by the petitioner, this Court granted instalment facility to respondents 1 and 2 to repay the loan amount in instalments since respondents 1 and 2 committed default. Pursuant to the same, the petitioner approached the Chief Judicial Magistrate, Thalassery under Sec. 14(1) of SARFAESI Act and as per order dated 31.10.2013, an Advocate Commissioner was appointed to take possession of the secured assets and submit a report. Ext.P5 is the said order. According to the petitioner, pursuant to Ext.P5, possession was taken by the Advocate Commissioner and it was handed over to the petitioner Bank. Bank also had posted a security guard in the aforesaid property. Ext.P6 is the report of the Advocate Commissioner dated 13.5.2013 and an inventory was taken and panchanama was prepared and the matter was closed by the Chief Judicial Magistrate as per order dated 13.5.2014. According to the Bank, physical possession was taken on 23.4.2014.