KRISHNAKUMAR Vs. INDUSLND BANK

JUDGEMENT

(1.) The Appellants/Original Petitioners have filed this appeal under Sec. 5 of the Kerala High Court, 1958, challenging the order passed by the learned Single Judge dtd. 24/10/2024, dismissing W.P.(C) No.41576 of 2023.

(2.) The Petitioners, by way of the writ petition, had sought nine reliefs, including various declarations primarily concerning the action of the Respondent Bank in proceeding under Sec. 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002 (SARFAESI Act). The main contention of the Appellants is based on the status of the Appellant Enterprise, which they allege is a Micro, Small and Medium Enterprises (MSME).

(3.) The Appellants approached the Respondent Bank for financial assistance. They were granted financial assistance by way of a loan against property and working capital for a sum of Rs.1,25,01,220.00 and another loan account of Rs.24,00,000.00. As per the terms and conditions of the loan agreement, the Appellants were liable to repay the loan amounts along with interest.