The Drugs Recovery Tribunal dismissed an application challenging securitization proceedings under the SARFAESI Act. The applicant failed to allege illegality or comply with a High Court order to regularize the account, leading to rejection of the relief sought.
Securitization Application dismissed without cost.
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.
IN THE DEBTS RECOVERY TRIBUNAL-2, KERALA AT ERNAKULAM
PRESENT: SRI.SOVAN KUMAR DASH PRESIDING OFFICER
Dated this the 27th day of March,2026
Securitization Application No.698/2025
Between
Sumesh V.S., Aged 42 Years, S/o. Sukumaran Nair, Vellappallil, Chengalam, Chengalam P.O., Kottayam-686 585. …Applicant
And
This Securitization Application having been heard on 06.03.2026 in the presence of Advocate Ramkumar J. for the applicant and Advocate Tom K Thomas for the defendants and stood over to this day for consideration, the Tribunal delivered the following:
SA/698/2025
2
F I N A L O R D E R
This SA is filed by the applicant under S.17(1) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as ‘the SARFAESI Act’) praying to set aside the entire securitization proceedings including the notice of the advocate commissioner with a prayer to regularize the loan account.
Brief facts of the case :
2.1 The applicant and his wife availed housing loan from the defendant No.1 in the year 2011 by creating security interest over the subject matter property of an extent of 17.76 Ares of land described in the SA.
2.2 Due to default in repayment, the loan was classified as NPA and the first defendant issued a demand notice under Sec.13(2) of the SARFEASI Act calling the applicant praying to repay the amount within the statutory period. Due to noncompliance the defendant issued possession notice under Sec.13(4) of SARFAESI Act.
2.3 The applicant challenged the securitization measure of defendant No.1 before Hon’ble High Court of Kerala by filing WP(C) No.30933/2023 which is disposed of by the judgment dated
SA/698/2025
3
03.10.2023 directing the applicant to clear the overdue amount in instalments. But the said order is not complied by the applicant.
2.4 The defendant No.1 filed MC No. 377/2025 under Sec.14 of the SARFAESI Act to take physical possession of the secured asset. An Advocate commissioner was appointed by the learned CJM in the said proceeding which was impugned by applicant before the Hon’ble High Court of Kerala in WP(C) No. 37948/2025 which was dismissed.
2.5 The applicant has filed the SA after dismissal of the writ application by the Hon’ble High Court of Kerala challenging the measure taken under Sec.14 of the SARFAESI Act with a prayer to set aside the entire securitization proceedings including the notice of the advocate commissioner with a prayer to regularize the loan account.
SA/698/2025
4
compliance of the statutory requirements. In absence of any illegality the SA may be dismissed.
Point Nos.(i) & (ii)
SA/698/2025
5
absence of proof of illegality in the securitization proceedings the applicant is not entitled to get any relief in this SA and hence, both the points are answered against the applicant.
Hence, it is ordered: -
ORDER
(Dictated to my steno, corrected and pronounced by me in the open Tribunal on this the 27th day of March, 2026)
[SOVAN KUMAR DASH] PRESIDING OFFICER
SA/698/2025
6
Documents on the part of the applicant
Annexures Date Particulars of documents
| Annexure-A1 | 09.05.2023 | True copy of the demand notice under Sec.13(2) of the SARFAESI Act. |
|---|---|---|
| Annexure-A2 | 06.09.2023 | True copy of the Possession notice issued under Sec.13(4) of the SARFAESI Act. |
| Annexure-A3 | 03.10.2023 | True copy of the Judgment in WP(C) No.30933/2023 of Hon’ble High court of Kerala. |
| Annexure-A4 | .. | True copy of the MC No. 377/2025 filed under Sec.14 of the SARFAESI Act before Hon’ble Chief Judicial Magistrate Court, Kottayam. |
| Annexure-A5 | .. | True copy of the notice issued by the advocate Commissioner in MC No. 377/2025 on the file of the Hon’ble Chief Judicial Magistrate Court, Kottayam. |
| Annexure-A6 | 14.10.2025 | True copy of the Judgment in WP(C) No.37948/2025 of Hon’ble High Court of Kerala. |
| Annexure-A7 | 20.10.2025 | True copy of the certificate issued by Dr. Thomas George, Consultant, Rheumatologist, Caritas Hospital and Institute of Health Sciences. |
| Doc Annexure-B1 |
uments on t 25.03.2025 |
he part of the defendants True copy of the order of the Chief Judicial Magistrate Court, Kottayam. |
| Annexure-B2 | 12.09.2023 | True copy of the Newspaper publication published in “The Hindu”. |
| Annexure-B3 | 12.09.2023 | True copy of the Newspaper publication published in |
SA/698/2025 7
| Annexure-B4 | 21.03.2025 | “Mathrubhumi”. True copy of the affidavit filed by the bank under Sec.14 of the SARFAESI Act. |
|---|---|---|
| Annexure-B5 | .. | True copy of the CERSAI Registration certificate issued by the Central |
| Registry in respect of the secured asset. |
PRESIDING OFFICER
IN THE DEBTS RECOVERY TRIBUNAL-2, KERALA AT ERNAKULAM
PRESENT: SRI.SOVAN KUMAR DASH PRESIDING OFFICER
Dated this the 27th day of March,2026
SA No.698/2025
Between
Sumesh V.S., Aged 42 Years, S/o. Sukumaran Nair, Vellappallil, Chengalam, Chengalam P.O., Kottayam-686 585. …Applicant
And
Branch Manager, Regional Office at P.B. No.1, Nirappel Buildings,
Chengalam P.O., Kottayam-686 585
and another. …Defendants
F I N A L O R D E R
2 issues framed by the court
Whether the securitization proceeding initiated by the defendants suffer from any illegality or defect to warrant judicial intervention?
Whether the applicant is entitled to any relief in the present proceeding?
4 provisions across 1 enactments
Sumesh V.S.
State Bank of India
SOVAN KUMAR DASH
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
