Disposed

Rajesh V.B & Others v. the Authorised Officer,Uco Bank & Anothe

Kerala HC28 Sept 2011OP (DRT)/3113/2011

Case brief

AI extract

What is this about?

The High Court of Kerala kept the proceedings under the SARFAESI Act and before the Debt Recovery Tribunal in abeyance for three months. This interim order allows the petitioners to pay the due amounts before the sanctions are enforced further.

What did the court decide?

Proceedings under the SARFAESI Act and before the DRT are kept in abeyance for 3 months.

Rajesh V.B & Others Vs the Authorised Officer,Uco… — Execution and Attachment | Kerala HC (2011)

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IN THE HIGH COURT OF KERALA AT ERNAKULAM

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PRESENT :

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THE HONOURABLE MR. JUSTICE S.SIRI JAGAN

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WEDNESDAY, THE 28TH SEPTEMBER 2011 / 6TH ASWINA 1933 OP (DRT).No. 3113 of 2011(O) ---------------------------SA.410/2011 of DEBT RECOVERY TRIBUNAL, ERNAKULAM ....................

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PETITIONERS ------------

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1. RAJESH V.B., S/O. BALAKRISHNAN, EDATHIL HOUSE, MUKKATTUKARA, NETTISSERY P.O., THRISSUR-680 657.

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2. RAJANI RAJESH, W/O. RAJESH V.B., EDATHIL HOUSE, MUKKATTUKARA, NETTISSERY P.O., THRISSUR-680 657.

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3. K.RAMACHANDRAN, S/O. SARADAMMA, EDATHIL HOUSE, MUKKATTUKARA, NETTISSERY P.O., THRISSUR-680 657.

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BY ADV. SRI.THOMAS T.VARGHESE SRI.N.SASI SMT.T.M.BINITHA SMT.AFSANA ASHRAF

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RESPONDENT(S): ---------------

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1. THE AUTHORISED OFFICER, UCO BANK, M.G.ROAD, ERNAKULAM BRANCH, RAVIPURAM, ERNAKULAM, KOCHI-682 016.

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2. THE UCO BANK, M.G.ROAD, ERNAKULAM BRANCH, RAVIPURAM, ERNAKULAM, KOCHI-682 016, REP. BY ITS BRANCH MANAGER.

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R1 & R2 BY ADV. SRI. P.V.SURNDRANATH, SC

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THIS OP (DEBT RECOVERY TRIBUNAL) HAVING COME UP FOR ADMISSION ON 28/09/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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JJJ

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OP (DRT).NO: 3113 OF 2011(O)

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APPENDIX

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PETITIONER'S EXHIBITS:

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EXT.P1 : TRUE COPY OF THE DISCHARGE SUMMARY

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EXT.P2 : TRUE COPY OF THE SUMMARY REPORT ISSUED BY THE RCC HOSPITAL, THIRUVANANTHAPURAM, DTD.26.2.2008.

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EXT.P3 : TRUE COPY OF THE SUMMARY REPORT ISSUED BY THE RCC HOSPITAL, THIRUVANANTHAPURAM, DTD.26.11.2008.

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EXT.P4 : TRUE COPY OF THE DEATH CERTIFICATE DTD.9.8.2011. EXT.P5 : TRUE COPY OF THE 13(4) NOTICE DTD.6.8.2011. EXT.P6 : TRUE COPY OF THE 13(4) NOTICE DTD.6.8.2011. EXT.P7 : TRUE COPY OF THE ORDER IN SA NO.409/2011 ISSUED BY THE DRT, ERNAKULAM.

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EXT.P8 : TRUE COPY OF THE ORDER IN SA NO.410/2011 ISSUED BY THE DRT, ERNAKULAM.

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RESPONDENT'S EXHIBITS: NIL

/TRUE COPY/

P.A. TO JUDGE

JJJ

S. Siri Jagan, J.

=-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-=-=

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O.P(DRT) No. 3113 of 2011

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=-=-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-= Dated this, the 28^th day of September, 2011.

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J U D G M E N T

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The respondents have initiated proceedings under the Securitisation & Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 against the petitioners for recovery of loan amounts due from the petitioners to the respondents. The petitioners approached the Debt Recovery Tribunal under Section 17 of the Act. The Tribunal has passed Exts. P7 and P8 orders directing the petitioners to pay the amounts as directed therein. The petitioners detail various reasons seeking further time to pay the entire amounts due.

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Notice has been served on the standing counsel for the respondents, who has accepted the same on behalf of the respondents .

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Taking into account the facts and circumstances of the case, I direct that both the proceedings before the Tribunal as well as the proceedings under the Securitisation & Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 shall be kept in abeyance for a period of 3 months to enable the petitioners to pay off the entire amounts due in accordance with the proceedings under the Act. If the petitioners do not pay the amount within the said 3 months, it would be open to the respondents and the Debt Recovery Tribunal to proceed further in accordance with law.

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Sd/- S. Siri Jagan, Judge.

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Tds/

Rajesh V.B & Others v. the Authorised Officer,Uco Bank & Anothe

Case brief

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Rajesh V.B & Others v. the Authorised Officer,Uco Bank & Anothe

Case brief

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