KERALA STATE CIVIL SUPPLIES CORPORATION LTD Vs. AUTHORISED OFFICER, HOUSING DEVELOPMENT FINANCE CORPORATION (HDFC) LTD

JUDGEMENT

(1.) The petitioner is the Kerala State Civil Supplies Corporation. The 2nd respondent was their authorised transporter. There are certain liabilities incurred by the 2nd respondent to the Corporation and the Corporation initiated revenue recovery proceedings to recover the same.

(2.) One of the asset of the 2nd respondent being Apartment No.A5, Travancore Residency Complex in Sy.No.81/1B, 81/1C of Chuttupadukara in Edappally North Village was attached under the revenue recovery proceedings.

(3.) The 1st respondent is a non-banking Financial Institution. The Institution had lent loan to respondents 2 & 3 in the year 1998 for purchase of the above apartment. On account of default in repayment of the loan amount, the Institution initiated SARFAESI proceedings.