St.George Metal Industries vs Catholic Syrian Bank
2021 Latest Caselaw 13525 Ker

               IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                 PRESENT
                 THE HONOURABLE MR. JUSTICE A.M.BADAR
        THURSDAY, THE 1ST DAY OF JULY 2021 / 10TH ASHADHA, 1943
                       OP (DRT) NO. 11 OF 2021
    AGAINST THE ORDER/JUDGMENT IN SA 29/2021 OF DEBT RECOVERY
                    TRIBUNAL, ERNAKULAM, ERNAKULAM
PETITIONERS:

    1       ST.GEORGE METAL INDUSTRIES
            REPRESENTED BY ITS PROP. K.V MATHEW, AGED 51 YEARS,
            BUILDING NO. XIII/27, GANDHI NAGAR P.O, KOTTAYAM 686
            008

    2       K.V MATHEW,
            AGED 51 YEARS
            PULICKAL HOUSE, THELLAKAM P.O, PEROOR, KOTTAYAM 686 008

    3       MERCY MATHEW,
            AGED 47 YEARS
            PULICKAL HOUSE, THELLAKAM P.O, PEROOR, KOTTAYAM 686 008

            BY ADVS.
            AJEESH S.BRITE
            SHRI.ABHILASH AUGUSTINE M.
            SMT.STEPHY JOSEPH



RESPONDENTS:

    1       CATHOLIC SYRIAN BANK
            REPRESENTED BY ITS MANAGER, KUMARANALLOOR BRANCH, M.C
            ROAD, SANKRANTHI, KUMARANALLOOR, KOTTAYAM 686 028

    2       THE AUTHORIZED OFFICER,
            CATHOLIC SYRIAN BANK, ZONAL OFFICE, KOTTAYAM 686 001

    3       THE DEBTS RECOVERY TRIBUNAL II,
            ERNAKULAM REPRESENTED BY ITS REGISTRAR, PANAMPIILLY
            NAGAR, KOCHI 682 036

            BY ADV SRI.C.A.JOY



THIS OP (DEBT RECOVERY TRIBUNAL) HAVING COME UP FOR ADMISSION ON
01.07.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 OP (DRT) NO. 11 OF 2021
                                     2

                               JUDGMENT

What is impugned in this instant petition is the order at Ext.P4 by

which stay granted by the learned Debt Recovery Tribunal by an order at

Ext.P2 came to be vacated.

The petitioner has alternate and most efficacious remedy of

approaching the appellate authority under Section 18 of the SARFAESI

Act. Hence this O.P.(DRT) is dismissed.

Nsd

Sd/-

A.M.BADAR JUDGE OP (DRT) NO. 11 OF 2021

APPENDIX OF OP (DRT) 11/2021

PETITIONER ANNEXURE

EXHIBIT P1 MEMORANDUM OF S.A 29/2021 WITH OUT ANNEXURES FILED BEFORE THE HON'BLE DEBT RECOVERY TRIBUNAL II AT ERNAKULAM

EXHIBIT P2 TRUE COPY OF THE PROCEEDINGS DATED 05-02-2021 ISSUED BY THE 3RD RESPONDENT

EXHIBIT P3 TRUE COPY OF THE RECEIPT OF PAYMENT OF RS.

2,00,000/- BEFORE THE RESPONDENTS

EXHIBIT P4 TRUE COPY OF THE PROCEEDINGS INITIATED BY THE 3RD RESPONDENT DATED 12-02-2021.