Debt Recovery Tribunal dismissed a Securitization Application by legal representatives seeking to set aside a demand and possession notice issued under the SARFAESI Act. The Tribunal held that the respondent demonstrated proper details were furnished and that the applicants failed to establish their case for relief.
Application dismissed with 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 21st DAY OF AUGUST, 2025
PRESENT: Su. WILLYAHM, B.Sc., M.L. [DISTRICT JUDGE - Retd] PRESIDING OFFICER
S.A No. 615 of 2023
Between
And
SA No.615 of 2023
--- Defendants
This Securitization Application coming on 15.07.2025 for final hearing before me in the presence of Ms. Dainy representing the counsel for the applicants and Mr. Santhosh Kumar Advocate appearing for the defendants and upon perusing the material on records, this Tribunal delivered the following:
O R D E R
Page 2 of 5
SA No.615 of 2023
Page 3 of 5
SA No.615 of 2023
are in accordance with the rules made thereunder. The applicants are having sufficient means to repay the loan amounts as per agreed terms and conditions. Secured assets are not agricultural properties. Therefore, their request to grant one year for repayment of the loan due is untenable and the SA may be dismissed with exemplary costs.
In the result S.A No.615 of 2023 stands dismissed. However, there shall be no order as to costs.
Dictated to Steno, taken down, transcribed, typed by her, corrected and pronounced by me in the open court on this the 21st day of August, 2025.
(Su. WILLYAHM) PRESIDING OFFICER
al/-
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SA No.615 of 2023
List of documents filed by the Applicant along with the S.A.
| Sl. No. |
Date | Part | iculars | |
|---|---|---|---|---|
| 1. | 24.01.2023 | True copy of 24.01.2023 under SARFAESI Act, 20 defendant to the a |
the notice dated Section 13(2) of the 02 issued by the 2nd pplicant. |
Annexure A1 |
| 2. | 30.05.2023 | True copy of the T.T.Sunny issued Births & Deaths, Panchayat. |
death certificate of by the Registrar of Meenangadi Grama |
Annexure A2 |
| 3. | 21.07.2023 | True copy of certificate of the issued by the Bathery. |
the legal heirship deceased T.T.Sunny Tahsildar Sulthan |
Annexure A3 |
| 4. | 08.09.2023 | True copy of poss No.AM/KKD 117242/2023-24 defendant to the a |
ession notice bearing 780/SUB/1069-55- issued by the 2nd pplicant. |
Annexure A4 |
| 5. | 03.05.2024 | True copy of poss by the Advocate C No. 415 of 2024 Chief Judicial Kalpetta.. |
ession notice issued ommissioner in CMP before the Hon’ble Magistrate’s Court, |
Annexure A5 |
(Su. WILLYAHM) PRESIDING OFFICER
al/-
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3 issues framed by the court
Whether applicants are entitled to one year time to clear debts given pending government receipts.
Whether possession notice is void ab-initio due to procedural irregularities.
Whether applicants established grounds to set aside demand and possession notices under SARFAESI Act.
2 provisions across 1 enactments
Smt.Leelamma C.S. and others
Federal Bank Limited
Su. WILLYAHM
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
