HIGH COURT OF KERALA AT ERNAKULAM PRESENT :…
quashed Ext.P6 order and directed tribunal to grant one more month to comply; proceedings in abeyance for one month
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IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT :
THE HONOURABLE MR. JUSTICE S.SIRI JAGAN
WEDNESDAY, THE 12TH OCTOBER 2011 / 20TH ASWINA 1933
OP (DRT).No. 3282 of 2011(O)
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PETITIONER:
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M/S. AARON INTERNATIONAL, REPRESENTED BY ITS MANAGING PARTNER V.A.AZAD, AZAD MANZIL, PANAYIKULAM P.O., ALANGAD, ALUVA, ERNAKULAM - 683 511.
BY ADV. SRI.T.G.RAJENDRAN
RESPONDENT(S): ---------------------
1. UCO BANK, RAVIPURAM BRANCH,M.G.ROAD, ERNAKULAM REPRESENTED BY ITS MANAYER.
2. THE AUTHORISED OFFICER, UCO BANK, RAVIPURAM BRANCH, M.G. ROAD, ERNAKULAM.
BY ADV. SRI. P.V.SURENDRANATH
THIS OP (DEBT RECOVERY TRIBUNAL) HAVING COME UP FOR ADMISSION ON 12/10/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
svs
O.P.(DRT). NO. 3282/2011
APPENDIX
PETITIONER'S EXHIBITS:
RESPONDENT'S EXHIBITS: NIL
/TRUE COPY/
P.A. TO JUDGE.
svs
S. Siri Jagan, J.
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O.P(DRT) No. 3282 of 2011
=-=-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-= Dated this, the 12th day of October, 2011.
J U D G M E N T
The petitioner is an applicant in Securitization Application No. 458/2011 before the Debt Recovery Tribunal, Ernakulam. The S.A is filed challenging proceedings under the Securitization & Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. The petitioner moved an interim application for stay of proceedings. By Ext.P4 order, the Tribunal granted an interim order on certain conditions. The petitioner did not comply with the conditions. Therefore, by Ext.P6 order, the Tribunal vacated the interim order. That is under challenge in this writ petition.
In the above circumstances, for a period of one more month, the respondents are directed to keep further proceedings pursuant to Ext.P7 in abeyance. If the petitioner complies with the conditions in Ext.P4 order, Ext.P4 order would continue to be in force until ordered otherwise. But, if the petitioner fails to comply with the conditions within one month,
Ext.P6 would revive and the respondents can continue proceedings pursuant to Ext.P7 appropriately. The writ petition is disposed of as above.
Sd/- S. Siri Jagan, Judge.
Tds/
1 issue framed by the court
Whether the debt recovery tribunal shall grant time to comply with an interim order when the petitioner fails to initially meet conditions.
M/s. AARON INTERNATIONAL
UCO BANK
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
