The Tribunal dismissed the applicant's securitization application challenging the demand notice and possession proceedings initiated by the bank under the SARFAESI Act, finding no infirmity or irregularity in the statutory measures taken.
The application stands dismissed. There shall be no order as to costs.
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 12th DAY OF FEBRUARY, 2025
PRESENT: Su. WILLYAHM, B.Sc., M.L. [DISTRICT JUDGE - Retd] PRESIDING OFFICER
S.A No. 572 of 2024
Between
Mrs. Jisha Jayakrishnan, W/o. Rajesh, Palatt House, Chalavara P.O, Ottapalam, Palakkad-679 505.
--- Applicant
And
The Shoranur Co-operative Urban Bank Ltd. Head Office Shoranur, Shoranur, Palakkad -679 121, Represented by its Authorized Officer.
--- Defendant
This Securitization Application coming on 17.12.2024 for final hearing before me in the presence of Mr. Dileep Chandran, Counsel appearing for the Applicants and Ms. Jayasree K.P., appearing for the defendant and upon hearing arguments of learned Counsels for both the parties and upon perusing the material on records, this Tribunal delivered the following:
O R D E R
SA No.572 of 2024
Page 2 of 6
SA No.572 of 2024
not less than a Chief Manager of a Public Sector Bank or equivalent, as specified by the Board of Directors of Board of Trustees of the secured creditor or any other person or authority exercising powers of Superintendents, direction and control of the business or affairs of the secured creditor as the case may be, to exercise the rights of a secured creditor under the Act. Hence the contention raised by the applicant that Demand Notice issued by the Authorised Officer and AnnexureA5 application Annexure-A5 filed by the Authorised Officer is not permissible under the SARFAESI Act, lacks merits.
In the result, S.A No.572 of 2024 stands dismissed. 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 12th day of February, 2025.
(Su. WILLYAHM) PRESIDING OFFICER
Mj/
Page 3 of 6
SA No.572 of 2024
S C H E D U L E
All part and parcel of land having an extent of 0.1416 Hectors in Re. Sy. No.46/8-3 in Chalavara Village, Ottappalam Taluk, Palakkad District.
Boundaries
| East | : Property of Muhammed |
|---|---|
| North | : Property of Rajesh |
| West | : Pathway |
| South | : Properties of Durga E.P. |
(Su. WILLYAHM) PRESIDING OFFICER
Page 4 of 6
SA No.572 of 2024
List of documents filed by the Applicant along with the S.A.
| Sl. No. |
Date | Particulars | |
|---|---|---|---|
| 1. | 12.12.2022 | True copy of the CT report issued by M/s. P K Das Institute of Medical ScienceVaniamkulam, Ottapalam. |
Annexure-A1 |
| 2. | --- | True copy of the account statement of theA/c. No.0003003800000011 |
Annexure-A2 |
| 3. | 27.07.2024 | True copy of the Notice issued by the Advocate Commissioner. |
Annexure-A3 |
| 4. | 26.06.2024 | True copy of the order of the Chief Judicial Magistrate Court Palakkad in MC 298/2024 |
Annexure-A4 |
| 5. | 18.06.2024 | True copy of Sec.14 application | Annexure-A5 |
List of documents filed by the defendant along with the written statement
| Sl. No. |
Date | Particulars | |
|---|---|---|---|
| 1. | 03.08.2023 | True copy of the Demand Notice issued by the defendant bankto theapplicant |
Annexure-B1 |
| 2. | 11.06.2024 | True copy of the letter issued from the office of the Superintendent of Post Offices Ottappalam, Shoranur intimating the defendant bank. |
Annexure-B2 |
| 3. | 05.09.2023 | True copy of the representation submitted by the applicant before the General Managerofthe defendant bank |
Annexure-B3 |
| 3. | --- | True English translation of Annexure- B3 |
Annexure- B3(a) |
| 4. | 14.09.2023 | True copy of the reply issued by the banktoAnnexure-B3letter. |
Annexure-B4 |
| 5. | --- | True English translation of Annexure- B4. |
Annexure- B4(a) |
| 6. | 05.10.2023 | True copy of the representation submitted by the applicant before the Bank. |
Annexure-B5 |
Page 5 of 6
SA No.572 of 2024
| 7. | 16.10.2023 | True copy of the reply issued by the BanktoAnnexure-B5 |
Annexure-B6 |
|---|---|---|---|
| 8. | 01.04.2023 | True copy of the relevant page of the circular No.DOR.STRREC 3/21.04.048/ 2023-24 issued by theRBI |
Annexure-B7 |
| 9. | --- | Copy of Registration of Security Interest andAcknowledgementReport |
Annexure-B8 |
(Su. WILLYAHM) PRESIDING OFFICER
Mj/
Page 6 of 6
3 issues framed by the court
Whether the debt recovery tribunal should declare the demand notice and possession proceedings illegal.
Whether the statutory requirements under the SARFAESI Act were complied with by the defendant bank.
Whether the applicant has established a case to obtain the reliefs sought in the securitization application.
3 provisions across 2 enactments
Mrs. Jisha Jayakrishnan
Su. WILLYAHM
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
