# In the matter of Satheesh V.K. vs. The Federal Bank Ltd.

> SC judgment dated 2025-09-23. Citation: TCN-2025-SC-00091. The appellant, Satheesh V.K., is a borrower who obtained financial assistance from the respondent,…

- **Court:** SC
- **Order date:** 23 Sept 2025
- **Citation:** TCN-2025-SC-00091
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/supreme-court-of-india/satheesh-vk-vs-the-federal-bank-ltd-3c392cb9

## Summary

### Background

The appellant, Satheesh V.K., is a borrower who obtained financial assistance from the respondent, The Federal Bank Ltd. The appellant defaulted on the loan, leading the respondent to classify the account as a Non-Performing Asset (NPA) and initiate measures under Section 13(4) of the SARFAESI Act.

## Facts

Satheesh V.K. is a borrower who defaulted on a loan from The Federal Bank Ltd.

The Federal Bank Ltd. classified the loan account as an NPA and initiated measures under Section 13(4) of the SARFAESI Act.

The appellant challenged the respondent's actions in the High Court of Kerala under Article 226 of the Constitution.

The High Court directed the appellant to pay Rs.2,00,00,000/- by 30th October, 2024, and the remaining amount in 12 monthly installments.

The appellant challenged the High Court's order in a special leave petition before the Supreme Court, which was later withdrawn.

The appellant then approached the High Court with a review petition, which was dismissed.

The appellant filed two civil appeals before the Supreme Court against the High Court's orders.

…

## Issues and analysis

### Issue 1: Whether a second special leave petition is …

**Ratio:** A second special leave petition is not maintainable at the instance of a party who elects

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**Reasoning:** The Court relied on the principle that allowing a second special leave petition after the

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**Interpretation:** The withdrawal of a special leave petition without obtaining leave to file a

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**Application:** The appellant withdrew the special leave petition without seeking permission to

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## Parties

- **Judges:** DIPANKAR…; K.V. VISWA…
- **Appellants:** Satheesh…
- **Respondents:** The Federal Bank…
- **Other parties:** Over Tu…
- **Advocates:** Aljo K. J…; Meno…

## Timeline

- **2024-10-01 — High Court…**: The High Court of Kerala passed an order disposing of the writ petition, requiring the…
- **2024-11-28 — Special Leave Petition…**: Order dated 28th November, 2024 recorded on the special leave petition by a co-ordinate…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 2(f) — Application](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-2)

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