This is an original petition seeking directions in a SARFAESI matter. The petitioner challenged a possession notice but the main stay application pending before the DRT was dismissed. The court directed the Tribunal to dispose of the pending application within two weeks.
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
THE HONOURABLE MR. JUSTICE P.B.SURESH KUMAR
MONDAY, THE 4TH DAY OF JUNE 2018 / 14TH JYAISHTA, 1940
SA 213/2017 of DEBTS RECOVERY TRIBUNAL, ERNAKULAM
PETITIONER(S) :
AJITH K. CHERIYAN, AGED 48, S/O.K.V.CHERIAN, KANNANPUTHOOR AJI BHAVAN, CHENNEKARA, MATHOOR P.O., OMALLOOR, PATHANAMTHITTA DISTRICT-689647.
BY ADV.SRI.V.PHILIP MATHEW
RESPONDENT(S):
1. AUTHORISED OFFICER, STATE BANK OF INDIA, KOTTARAKKARA PULAMON BRANCH, KOTTARAKKARA, KOLLAM DISTRICT-691531.
2. THE STATE BANK OF INDIA, KOTTARAKKARA PULAMON BRANCH, KOTTARAKKARA, KOLLAM DISTRICT-691531, REPRESENTED BY ITS BRANCH MANAGER.
BY ADV. SRI.JAWAHAR JOSE, SC, SBI
THIS OP (DEBT RECOVERY TRIBUNAL) HAVING COME UP FOR ADMISSION ON 04-06-2018, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
DSV/-
OP (DRT).No. 71 of 2018 (O)
APPENDIX
PETITIONER(S)' EXHIBITS :
| EXHIBIT P1 TRUE COPY OF THE AMORTIZATION SCHEDULE OF THE TERM LOAM ISSUED BY THE BANK. |
|---|
| EXHIBIT P2 TRUE COPY OF THE 13(2) NOTICE DATED 01.06.2017 ISSUED BY THE 1ST RESPONDENT. |
| EXHIBIT P3 TRUE COPY OF THE REPRESENTATION DATED 29.06.2017 SEND BY THE PETITIONER TO THE 1ST RESPONDENT. |
| EXHIBIT P4 TRUE COPY OF THE LAWYER NOTICE DATED 09.06.17. |
| EXHIBIT P5 TRUE COPY OF THE REPLY DATED 22.07.2017 ISSUED BY THE PETITIONER. |
| EXHIBIT P6 TRUE COPY OF THE POSSESSION NOTICE DATED 08.09.2017 WHICH WAS PASTED ON THE WALL OF RESIDENTIAL BUILDING OF THE PETITIONER. |
| EXHIBIT P7 TRUE COPY OF THE SECURITISATION APPLICATION EXCLUDING THE ANNEXURES. |
| EXHIBIT P8 TRUE COPY OF THE WRITTEN STATEMENT BY THE RESPONDENTS. |
| EXHIBIT P9 TRUE COPY OF THE NOTICE DATED 10.05.2018 ISSUED BY THE ADVOCATE COMMISSIONER. |
| EXHIBIT P10 TRUE COPY OF THE APPLICATION TO ADVANCE THE HEARING OF THE S.A. |
| EXHIBIT P11 TRUE COPY OF THE STAY PETITION. |
| EXHIBIT P12 COPY OF THE APPLICATION TO RE-OPEN THE CASE. |
RESPONDENT(S)' EXHIBITS :
NIL
// TRUE COPY //
P.A. TO JUDGE
DSV/-
P.B.SURESH KUMAR, J.
==================
O.P.(DRT) No.71 of 2018
Dated this the 4th day of June, 2018
JUDGMENT
Petitioner availed a loan from State Bank of India (the bank). Since he did not pay the dues in respect of the loan, proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (the Act) have been initiated by the bank against the securities. The possession notice issued by the bank in this connection has been challenged by the petitioner in S.A.No.213 of 2017 before the Debts Recovery Tribunal, Ernakulam. It is stated that S.A.No.213 of 2017 was though heard finally by the Tribunal on 16.01.2018, orders are yet to be passed. The case of the petitioner is that in the meanwhile, the bank initiated proceedings under Section 14 of the Act for dispossessing the petitioner from the securities and secured an order appointing an Advocate Commissioner for the said purpose. On receipt of notice from the Advocate Commissioner, though the petitioner preferred an interlocutory application for stay of further proceedings under the Act in S.A.No.213 of 2017, the same was dismissed by the Tribunal, taking the view that a fresh
2
O.P.(DRT) No.71/18
securitization application needs to be filed for challenging the proceedings under Section 14 of the Act. The original petition is filed, in the circumstances, seeking directions to the Tribunal for expeditious disposal of S.A.No.213 of 2017 and for directions to the bank to keep in abeyance the proceedings under Section 14 of the Act till the disposal of S.A.No.213 of 2017.
Sd/-
P.B.SURESH KUMAR, JUDGE
DSV/4/6/18
3 issues framed by the court
Whether the Debts Recovery Tribunal should dispose of the seized application expeditiously pending final orders
Whether the bank is directed to keep in abeyance the Section 14 proceedings pending disposal of the main application
Whether the court should grant relief regarding the stay application rejected by the Tribunal
2 provisions across 1 enactments
Ajith K. Cherian
Authorised Officer, State Bank of India, Kottarakkara Pulamon Branch
State Bank of India, Kottarakkara Pulamon Branch
P.B. Suresh Kumar
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
