SACHU ADVAITH MOHANACHANDRAN Vs. CHIEF JUDICIAL MAGISTRATE

JUDGEMENT

(1.) The writ petition is filed to set aside the order in M.C. No.367/2022 of the Chief Judicial Magistrate Court, Pathanamthitta.

(2.) The petitioner case is that, the respondents have illegally proceeded against the secured asset under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act (in short, 'Act'). The action of the respondents are unsustainable in law. Hence, the writ petition.

(3.) When the writ petition came up for consideration on 22/3/2023, this Court passed an interim order directing coercive proceedings to be kept in abeyance subject to the condition that the petitioner deposits an amount of Rs.15,00,000.00 on or before 24/3/2023 and a further sum of Rs.10,00,000.00, on or before 19/5/2023.