ABDUL AZEEZ Vs. AUTHORIZED OFFICER,PHOENIX ARC. LTD

JUDGEMENT

(1.) The petitioner in W.P.(C) No.33707/2023, who is a Class A Contractor approved by the Government of Kerala, has filed this writ petition seeking to set aside Ext.P3 order passed by the Chief Judicial Magistrate, Thrissur. Ext.P3 order has been passed by the Chief Judicial Magistrate, Thrissur in MC No.441/2023 filed by the respondent-Asset Reconstruction Company. By Ext.P3 order, the Chief Judicial Magistrate has appointed an Advocate Commissioner to assist the Company to take possession of the petition schedule property, invoking Sec. 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.

(2.) The petitioner had availed financial advance from the South Indian Bank. The petitioner met with an accident in the year 2015 and was under continued treatment and had to undergo a major surgery. As the petitioner defaulted payments, the Bank invoked the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 to recover the amounts due from the petitioner.

(3.) The petitioner was informed that the assets and liabilities in respect of the loan account of the petitioner had been assigned to the respondent-Asset Reconstruction Company on 17/3/2017 as per Ext.P2. On 6/7/2017, the respondent informed the petitioner that symbolic possession of the secured asset has been taken. The petitioner hence filed SA No.66/2018 before the Debts Recovery Tribunal-I, Ernakulam, which is pending.