The Tribunal dismissed the Securitization Application filed by a home loan applicant seeking to quash auction measures and enforce restructuring. The court found the bank complied with Section 14(1) of the SARFAESI Act, 2002, and the applicant failed to prove non-default or procedural irregularity.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
Fair Order
IN THE DEBTS RECOVERY TRIBUNAL - 1 AT ERNAKULAM
DATED THIS 23rd DAY OF APRIL, 2025
PRESENT: Su. WILLYAHM, B.Sc., M.L. [DISTRICT JUDGE - Retd] PRESIDING OFFICER
S.A No. 250 of 2024
Between
Beena Mol K., Kizhakkeparambil, Kalamboor, Eranalloor P.O., Ernakulam -685 673.
--- Applicant
And
State Bank of India Represented by the Authorized Officer, Stressed Assets Recovery Branch, 7th Floor, Vankarath Building, Bye Pass Junction, Palarivattom, Ernakulam.
--- Defendant
This Securitization Application coming on 21.10.2024 and 20.12.2024 for final hearing before me in the presence of Mr.Rajesh Rajagopala Pillai, Counsel appearing for the defendant bank and Counsel for the applicant having not appeared and advanced the argument and upon perusing the argument note filed by the Counsel for the applicant and upon hearing arguments of learned Counsel for the defendant and upon perusing the material on records, this Tribunal delivered the following:
SA No.250 of 2024
O R D E R
Page 2 of 4
SA No.250 of 2024
under Clause (i) to (ix) to the provisions of Section 14 (1) of the SARFAESI Act 2002. Apart from the above contention, the applicant has not raised any other valid contentions in respect of Annexure-A3 affidavit and A4 order. A perusal of Annexure-A3 affidavit shows that all the statutory requirements contemplated under Clause (i) to (ix) to the provisions of Section 14 (1) of the SARFAESI Act 2002 has been complied with. A perusal of Annexure-A4 Order shows that the learned Additional Chief Judicial Magistrate Court (MPs/MLAs), Ernakulam after having perused the contents of the affidavit and the documents fled in support of the affidavit and after having satisfied over the same passed order appointing Advocate Commissioner to take physical possession of the secured asset. This Tribunal does not find any procedural irregularity in respect of the measures taken by the defendant against the secured asset.
There shall be no order as to costs.
Dictated to Steno, taken down, transcribed, typed by him, corrected and pronounced by me in the open court on this the 23rd day of April, 2025.
(Su. WILLYAHM)
PRESIDING OFFICER
Mj/
Page 3 of 4
SA No.250 of 2024
List of documents filed by the Applicant along with the S.A.
| Sl. No. |
Date | Particulars | |
|---|---|---|---|
| 1. | 06.03.2024 | True copy of the Advocate Commissioner’snotice. |
Annexure-A1 |
| 2. | 04.05.2023 | True copy of the application filed before the Additional Chief Judicial Magistrate Court (MPs/MLAs) Ernakulam in MC No.519/2023 by the defendant. |
Annexure-A2 |
| 3. | 04.05.2023 | True copy of the affidavit filed before the Additional Chief Judicial Magistrate Court (MPs/MLAs) Ernakulam in MC No.519/2023 by the defendant. |
Annexure-A3 |
| 4. | 20.02.2024 | True copy of the Order passed appointing Advocate Commissioner by the Additional Chief Judicial Magistrate Court (MPs/MLAs) Ernakulam in MC No.519/2023 by the defendant. |
Annexure-A4 |
List of documents filed by the defendant along with the written statement
| Sl. No. |
Date | Particulars | ||
|---|---|---|---|---|
| 1. | 10.11.2019 | True copy of the Demand Notice | Annexure-D1 | |
| 2. | -- | True copy of the Acknowledgment card signed applicant. |
postal by the |
Annexure-D2 |
(Su. WILLYAHM)
PRESIDING OFFICER
Mj/
Page 4 of 4
3 issues framed by the court
Whether the Securitization Application filed by the applicant to quash the SARFAESI measures and permit restructuring should be allowed.
Whether the affidavit filed by the defendant bank complied with the statutory requirements under Section 14(1) of the SARFAESI Act, 2002.
Whether the applicant has proven his case to secure the reliefs sought in the application.
1 provisions across 1 enactments
Beena Mol K.
Su. WILLYAHM
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
