Partly allowed

Sevashram v. Federal Bank Ltd.

Kerala HC7 Nov 2013OP (DRT)/3849/2013

Case brief

AI extract

What is this about?

In this operating procedure, the High Court of Kerala extended the deadline for the petitioner to make a pre-deposit of ₹93,16,372/- at the Debt Recovery Appellate Tribunal under Section 18 of the SARFAESI Act. The court granted one more opportunity, directing the tribunal to dispose of the appeal on merits if the deposit is made by the extended due date.

What did the court decide?

Extension of time to deposit ₹93,16,372/- until 01.12.2013; direction to DRT to dispose appeal on merits upon payment.

Sevashram Vs Federal Bank Ltd. — Banking and Recovery | Kerala HC (2013)

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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 V.CHITAMBARESH

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THURSDAY, THE 7TH DAY OF NOVEMBER 2013/16TH KARTHIKA, 1935

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OP (DRT).No. 3849 of 2013 (O)

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-----------------------------AGAINST THE ORDER IN I.A. NO. 341/2013 of DEBT RECOVERY TRIBUNAL, ERNAKULAM

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PETITIONER(S)/PETITIONER:

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SEVASHRAM, MANGATTUKARA, PULIYANAM (PO), ANGAMALLY ERNAKULAM DISTRICT, PIN - 683 572 REPRESENTED BY ITS SECRETARY MRS.LISSY JOSE

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BY ADVS.SRI.SHAJI CHIRAYATH SMT.JIJI M. VARKEY SRI.M.M.SHAJAHAN SMT.SAVITHA GANAPATHIYATAN

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RESPONDENT(S)/RESPONDENT:

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FEDERAL BANK LTD, MANJAPARA BRANCH, ERNAKULAM PIN - 683 583 REPRESENTED BY ITS BRANCH MANAGER MR.JOY JACOB

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DEBT RECOVERY APPELLATE TRIBUNAL, 4TH FLOOR, INDIAN BANK CIRCLE OFFICE, 55 ETHIRAJ SALAI, CHENNAI, PIN - 600 008.

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BY SRI.PRAVEEN K. JOY, SC, FEDERAL BANK SRI. MOHAN JACOB GEORGE, SC, FEDERAL BANK

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THIS OP (DEBT RECOVERY TRIBUNAL) HAVING COME UP FOR ADMISSION ON 07-11-2013, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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OP (DRT).No. 3849 of 2013 (O)

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APPENDIX

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PETITIONER(S)' EXHIBITS

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EXHIBIT P1	:	THE COPY OF THE APPEAL MEMORANDUM FILED BY THE PETITIONER BEFORE THE DEBTS RECOVERY APPELLATE TRIBUNAL, CHENNAI
EXHIBIT P2	:	THE COPY OF THE APPLICATION IA NO. 341/2011 IN APPEAL NO.214/2011 FILED BY THE PETITIONER BEFORE THE DEBTS RECOVERY APPELLATE TRIBUNAL, CHENNAI
EXHIBIT P3	:	THE COPY OF THE COUNTER STATEMENT FILED BY THE FEDERAL BANK IA NO.341/2011 IN APPEAL NO.214/2001 FILED BY THE PETITIONER BEFORE THE DEBTS RECOVERY APPELLATE TRIBUNAL, CHENNAI.
EXHIBIT P4	:	THE COPY OF THE PROCEEDINGS BEFORE THE HON'BLE CHAIRPERSON OF DEBTS RECOVERY APPELLATE TRIBUNAL DOWNLOADED FROM THE WEBSITE OF NATIONAL INFORMATION CENTRE, CHENNAI

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RESPONDENT(S)' EXHIBITS : NIL

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/TRUE COPY/

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P.A. TO JUDGE.

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V. CHITAMBARESH, J

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OP(DRT) NO. 3849 OF 2013

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Dated this the 7^th day of November, 2013

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JUDGMENT

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All that the petitioner prays is for extension of time to comply with the order in I.A. No. 341/2013 in AIR (SA) 214/2013 on the file of the Debts Recovery Appellate Tribunal. I.A. No. 341/2013 was filed by the petitioner to waive the pre-deposit as required under Section 18 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002. The Debts Recovery Appellate Tribunal has by order dated 12.09.2013 allowed I.A. No. 341/2013 by directing the petitioner to deposit a sum of `93,16,372/- with the tribunal on or before 01.11.2013.

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The petitioner has a case that he was under the impression that a copy of order in I.A. No. 314/2013 would be served on it under Rule 20 of the Debts Recovery Appellate Tribunal (Procedure) Rules, 1994. Rule 20 of the said rules apply only to communication of final orders in an appeal and not to an interim order of the nature passed on an application for

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OP(DRT) NO. 3849/2013

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waiver of deposit.

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Be that as it may, I am inclined to grant one more opportunity to the petitioner to make the deposit and have the appeal under Section 18 of the SARFAESI Act disposed of on merits. Every endeavour should be made to have the lis disposed of on merits rather than non suiting the petitioner/appellant on technical grounds when the delay is not inordinate.

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I extend the time for making the deposit of 93,16,372/- with the Debts Recovery Appellate Tribunal till 01.12.2013 under the circumstances. The Debts Recovery Appellate Tribunal is obliged to dispose of AIR (SA) 214/2013 on merits in case the deposit of 93,16,372/- is made by the petitioner on or before 01.12.2013.

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The Original Petition is disposed of.

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V. CHITAMBARESH JUDGE

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ncd

Sevashram v. Federal Bank Ltd.

Case brief

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Sevashram v. Federal Bank Ltd.

Case brief

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