IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE GOPINATH P.
THURSDAY, THE 9TH DAY OF JUNE 2022 / 19TH JYAISHTA, 1944
OP (DRT) NO. 90 OF 2022
SA 206/2019 OF DEBT RECOVERY TRIBUNAL, ERNAKULAM
PETITIONER/3rd APPLICANT:
JACOBITE SYRIAN CHRISTIAN FELLOWSHIP TRUST
KAROTTUPUTHENPURA, PALAKKUZHA, KOOTHATTUKULAM, PIN
- 686 662 REPRESENTED BY ITS GENERAL SECRETARY
T.P.VARGHESEKUTTY, AGED 45 YEARS, S/O.T.K.PURAVATH,
THEKKILAKKAT HOUSE, PALAMATTAM P.O., KOTHAMANGALAM.
BY ADVS.
M.A.ABDUL HAKHIM
JOSEPH GEORGE
M.A.AZEEZ MUSHTAQUE
RESPONDENTS/DEFENDANTS:
1 THE FEDERAL BANK LIMITED
KOOTHATTUKULAM BRANCH, NSS ARCADE, M.C.ROAD,
KOOTHATTUKULAM, PIN - 686 662 REPRESENTED BY ITS
BRANCH MANAGER.
2 AUTHORIZED OFFICER & DEPUTY VICE PRESIDENT
THE FEDERAL BANK LIMITED, FEDERAL TOWERS, MARINE
DRIVE, COCHIN - 682 031.
BY ADV P.PAULOCHAN ANTONY
THIS OP (DEBT RECOVERY TRIBUNAL) HAVING COME UP FOR ADMISSION
ON 09.06.2022, THE COURT ON THE SAME DAY DELIVERED THE
FOLLOWING:
O.P.(DRT)No.90/2022 2
JUDGMENT
The petitioner Trust is stated to be running an Engineering College, the property of which is mortgaged to the 1 st respondent Bank.
2. When this matter came up for consideration today, the learned counsel appearing for the petitioner submits that the petitioner has already filed Securitisation Application before the Debt Recovery Tribunal and there may be a direction to the Debt Recovery Tribunal to consider and pass orders on Ext.P2 stay application filed in S.A.No.206/2019.
3. The learned standing counsel appearing for the 1 st respondent submits that it is for the petitioner to move the Tribunal for interim relief, if necessary by advancing the case. It is also submitted that the College is not functional at present.
4. Having regard to the facts of the case, I deem it appropriate to grant the petitioner an opportunity of obtaining appropriate interim orders from the Tribunal. Therefore, the Original Petition (DRT) will stand disposed of directing that all coercive steps against the petitioner shall be kept in abeyance for period of one month from today to enable the petitioner to move the Debt Recovery Tribunal for appropriate interim relief.
sd/-
GOPINATH P.
JUDGE acd O.P.(DRT)No.90/2022 3 APPENDIX OF OP (DRT) 90/2022 PETITIONER EXHIBITS Exhibit P1 A PHOTOSTAT COPY OF THE SECURITIZATION APPLICATION NO.206/2019 DATED 22/06/2019 OF THE HON'BLE DEBT RECOVERY TRIBUNAL NO.1, ERNAKULAM WITHOUT ITS ANNEXURE. Exhibit P2 A PHOTOSTAT COPY OF THE I.A.NO.1268/2019 DATED 21/06/2019 IN SECURITIZATION APPLICATION NO.206/2019 OF THE HON'BLE DEBT RECOVERY TRIBUNAL NO.1, ERNAKULAM. Exhibit P3 A PHOTOSTAT COPY OF THE PROCEEDINGS SHEET IN SECURITIZATION APPLICATION NO.206/2019 OF THE HON'BLE DEBT RECOVERY TRIBUNAL NO.1, ERNAKULAM DOWNLOADED FROM ITS WEBSITE.
Exhibit P4 A PHOTOSTAT COPY OF THE NOTICE DATED 25/01/2022 ISSUED BY THE ADVOCATE COMMISSIONER APPOINTED BY THE HON'BLE ADDITIONAL CHIEF MAGISTRATE'S COURT(SPECIAL COURT FOR MPS & MLAS), ERNAKULAM IN M.C.NO.793/2018.