Petitioner filed an original petition challenging a Debt Recovery Tribunal order alleging lack of hearing and RBI guideline violation during loan recovery proceedings under the SARFAESI Act. The single judge dismissed the petition, characterizing the contents as merit issues for appellate review.
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 HIGH COURT OF KERALA AT ERNAKULAM
PRESENT:
THE HONOURABLE MR.JUSTICE ANTONY DOMINIC
THURSDAY, THE 11TH DAY OF OCTOBER 2012/19TH ASWINA 1934
OP (DRT).No. 3353 of 2012 (O)
IA.NO.2381/2012 IN SA.157/2012 of DEBT RECOVERY TRIBUNAL, ERNAKULAM
PETITIONER(S):
K.FAIZEL, PROPRIETOR HI-HEIGHTS RESIDING AT HOUSE NO.-4/54(A) NEAR PROVIDENCE G.H.S.S, GANDHI ROAD, CALICUT PIN - 673 001.
BY ADV. SRI.K.FAIZEL (PARTY-IN- PERSON)
RESPONDENT(S):
BY SC SRI. SATHISH NINAN
THIS OP (DEBT RECOVERY TRIBUNAL) HAVING COME UP FOR ADMISSION ON 11-10-2012, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
OP(DRT).3353/12
APPENDIX
PETITIONER(S) EXHIBITS
EXHIBIT P1. TRUE EXTRACT OF RBI CIRCULAR RBI/2010-11/45.UBD, PCB.MC.NO.3/09.14.000/2010-11.
EXHIBIT P2. TRUE COPY OF THE JUDGMENT FROM THE HON'BLE HIGH COURT DATED 21.08.2012 FOR DIRECTING THE RTO TO ISSUE THE RE-REGISTRATION TO THE PETITIONER.
EXHIBIT P3. POSSESSION NOTICE FROM THE BANK DATED 23.11.2012.
EXHIBIT P4. TRUE COPY OF THE STAY ORDER FROM DEBTS RECOVERY TRIBUNAL DATED 15.02.2012.
EXHIBIT P5. TRUE COPY ORDER OF DEBTS RECOVERY TRIBUNAL, DATED 03.09.2012.
EXHIBIT P6. TRUE COPY REGARDING THE RIB NORMS FOR CLASSIFICATION OF NPA FOR SSI UNIT.
EXHIBIT P7. TRUE COPY OF THE ACCOUNT STATEMENT UP TO 11.05.2011.
EXHIBIT P8. TRUE COPY OF THE SECTION 31(J) OF SARFAESI ACT.
/true copy/
P.A. To Judge
ANTONY DOMINIC, J
O.P.(DRT).3353/2012
Dated this the 11th day of October, 2012
JUDGMENT
Petitioner availed of a loan of Rs.25 Lakhs from the respondent Bank for the purpose of acquiring Piling/Water well rig. The account was classified as NPA and when proceedings under the SARFAESI Act were initiated, petitioner filed S.A.157/12 before the DRT, Ernakulam. In I.A.528/12 the Tribunal passed Ext.P4 order directing that status quo be maintained. Subsequently, in I.A.2381/12 the Tribunal passed Ext.P5, a conditional order subject to which confirmation of the sale was stayed. Although this condition was complied with, the Tribunal passed a subsequent order requiring further payment of Rs.5 Lakhs. It is at that stage this O.P has been filed.
O.P(DRT).3353/12
2
O.P is dismissed.
Sd/- ANTONY DOMINIC, JUDGE
mrcs
/true copy/
P.A. To Judge
2 issues framed by the court
Whether the order Ext.P5 was passed without hearing the petitioner.
Whether the classification of the account as NPA violates RBI guidelines.
1 provisions across 1 enactments
K.FAIZEL
STATE BANK OF TRAVANCORE
THE MANAGER, KALOOR BRANCH, ERNAKULAM
THE MANAGER, STATE BANK OF TRAVANCORE STRESSED ASSERT RESOLUTION CENTRE PANAMPILLY NAGAR, ERNAKULAM
ANTONY DOMINIC
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
