Jacob N. X vs Authorized Officer
2022 Latest Caselaw 11265 Ker

               IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                PRESENT
                 THE HONOURABLE MR. JUSTICE GOPINATH P.
   FRIDAY, THE 2ND DAY OF DECEMBER 2022 / 11TH AGRAHAYANA, 1944
                        OP (DRT) NO. 475 OF 2022
AGAINST THE ORDER/JUDGMENT SA 552/2022 OF DEBT RECOVERY TRIBUNAL,
                               ERNAKULAM
PETITIONER:

          JACOB N. X
          AGED 62 YEARS
          NADUVILAPARAMBIL
          K.G. MARTIN ROAD, AROOR ,ALAPPUZHA, PIN - 688534

          BY ADVS.
          MANSOOR.B.H.
          SAKEENA BEEGUM


RESPONDENTS:

    1     AUTHORIZED OFFICER
          M/S SOUTH INDIAN BANK LTD, REGIONAL
          OFFICE, TMJ COMPLEX, RAMANCHIRA,THIRUVILLA, PIN -
          689107

    2     PRESIDING OFFICER
          DEBT RECOVERY TRIBUNAL II
          PANAMPALLY NAGAR.KOCHI , PIN - 682036

          BY ADVS.
          SUNIL SANKAR.P.
          Mohan Jacob George
          P.V.PARVATHY (P-41)(K/000036/1991)
          REENA THOMAS(R-364)
          NIGI GEORGE(K/1169/2012)



OTHER PRESENT:

          ADV. MOHAN JACOB GEORGE (SC)


     THIS OP (DEBT RECOVERY TRIBUNAL) HAVING COME UP FOR ADMISSION
ON 02.12.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 OP (DRT) No.475/2022                      -2-

                                  JUDGMENT

The petitioner has approached this court being aggrieved by the proceedings

initiated against the petitioner under provisions of the Securitisation and

Reconstruction of Financial Assets and Enforcement of Security Interest Act

(hereinafter referred to as the SARFAESI Act). The petitioner preferred S.A

No.552/2022 challenging the proceedings before the Debts Recovery Tribunal-II,

Ernakulam. After considering the matter, the Tribunal has dismissed the stay

petition through Ext.P3 order. The petitioner approached this court being aggrieved

by the fact that immediately after the dismissal of the interlocutory application for

stay filed by the petitioner, the Advocate Commissioner issued Ext.P4 notice for

taking possession of the secured asset and the bank has also published Ext.P5 notice

proposing to conduct auction sale of the property. The property is scheduled to be

sold by public auction on 07-01-2023.

2. When this matter is taken up for consideration today, it is the

submission of the learned counsel appearing for the petitioner that the petitioner

may be given reasonable time to handover vacant possession of the secured asset to

the authorised officer of the respondent bank and that the petitioner may also be

permitted to raise all his contentions in the pending securitization application.

3. The learned counsel appearing for the respondent bank has no

objection to the request made by the learned counsel for the petitioner.

Accordingly, this original petition is disposed of directing that the petitioner shall

be permitted to continue in possession of the secured asset till 04-01-2023. If the

petitioner does not handover vacant possession of the secured asset to the

authorised officer of the respondent bank on or before 04-01-2023, it will be open

to the respondent bank to take physical possession of the property in accordance

with law. It will also be open to the Advocate Commissioner to take possession of

the secured asset without issuing any further notice.

Sd/-

GOPINATH P.

JUDGE

AMG

APPENDIX OF OP (DRT) 475/2022

PETITIONER EXHIBITS

Exhibit P1 TRUE COPY OF THE NOTICE ISSUED BY THE RESPONDENT DATED 17/10/2022

Exhibit P2 COPY OF THE JUDGMENT DATED 14/11/2022 IN O.P(DRT)440/2022 OF THIS HON'BLE COURT

Exhibit P3 TRUE COPY OF THE PROCEEDINGS IN I.A NO:2946/2022 IN S.A NO:552/2022 OF DEBT RECOVERY TRIBUNAL -2 ERNAKULAM

Exhibit P4 TRUE COPY OF THE NOTICE ISSUED BY THE ADV COMMISSION DATED 26/11/2022

Exhibit P5 TRUE COPY OF THE TENDER CUM AUCTION SALE NOTICE PUBLISHED BY THE FIRST RESPONDENT DATED 25-11-2022