M/S. J & J Granites And Marbles vs The South Indian Bank Ltd
2022 Latest Caselaw 8215 Ker

               IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                 PRESENT
                THE HONOURABLE MR. JUSTICE GOPINATH P.
        FRIDAY, THE 1ST DAY OF JULY 2022 / 10TH ASHADHA, 1944
                       OP (DRT) NO. 184 OF 2022
   AGAINST THE ORDER IN SA 324/2021 OF DEBT RECOVERY TRIBUNAL,
                                ERNAKULAM
PETITIONERS:

           M/S. J & J GRANITES AND MARBLES,
           M.C. ROAD, KUMARANELLOOR, KOTTAYAM, REPRESENTED BY
           PARTNER JOHNEY JOSEPH, AGED 52 YEARS, S/O. JOSEPH,
           NEERACKAL HOUSE, BHARANANGANAM P.O., KOTTAYAM-686578.

           BY ADV BIJUMON.E.A



RESPONDENTS:

    1      THE SOUTH INDIAN BANK LTD.,
           REPRESENTED BY THE AUTHORIZED OFFICER, REGIONAL OFFICE,
           FIRST FLOOR, REGENCY SQUARE, COLLECTORATE P.O.,
           KOTTAYAM-686002.

    2      THE DEBTS RECOVERY TRIBUNAL-II,
           ERNAKULAM, 1ST FLOOR, KSHB OFFICE COMPLEX, PANAMPILLY
           NAGAR, COCHIN-682036, REPRESENTED BY ITS REGISTRAR.

           BY ADV SUNIL SHANKER




     THIS OP (DEBT RECOVERY TRIBUNAL) HAVING COME UP FOR ADMISSION
ON 01.07.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 OP (DRT) No.184/2022                     -2-


                                 JUDGMENT

The petitioner seeks to withdraw this original petition with liberty to pursue

his remedies before the Debts Recovery Tribunal in S.A. No.324/2021.

Heard the learned Standing Counsel for the 1st respondent bank also.

Having regard to the submission made by the learned counsel for the

petitioner, this original petition will stand disposed of permitting the petitioner to

pursue his remedies before the Debts Recovery Tribunal in the securitization

application mentioned above. To enable the petitioner to seek relief from the

Tribunal the status-quo as on today shall be maintained for a period of one week

from today. It is made clear that no further extension of time will be granted to the

petitioner, taking note of the fact that the petitioner has not complied with the

interim order dated 28-02-2022 which directed to payment of Rs.1.50 Crores as a

condition for stay on or before 30-03-2022 and despite the fact that the time for

payment was extended by order dated 24-05-2022 till 30-06-2022. I make it clear

that the Tribunal will be free to decide the matter on merits and untrammeled by

the fact that this court had passed earlier interim orders in favour of the petitioner

and also untrammeled by any observations contained in this judgment.

Sd/-

GOPINATH P.

JUDGE

AMG

APPENDIX OF OP (DRT) 184/2022

PETITIONER EXHIBITS

Exhibit P1 TRUE COPY OF THE REQUEST LETTER DATED 18/03/2021 SUBMITTED TO THE PETITIONER BEFORE THE 1ST RESPONDENT.

Exhibit P2 TRUE COPY OF THE REQUEST LETTER SENT BY THE PETITIONER DATED 07/05/2021.

Exhibit P3 TRUE COPY OF THE REQUEST LETTER DATED 02/06/2021 SUBMITTED BY THE PETITIONER BEFORE THE 1ST RESPONDENT.

Exhibit P4 TRUE COPY OF THE SECTION 13(2) NOTICE ISSUED BY 1ST RESPONDENT DATED 25/06/2021.

Exhibit P5 TRUE COPY OF THE REQUEST LETTER SENT BY THE PETITIONER DATED 14/07/2021.

Exhibit P6 TRUE COPY OF THE PAYMENT EXTRACT DATED 01/03/2021 TO 24/03/2021.

Exhibit P7 TRUE COPY OF THE OBJECTION UNDER SECTION 13(3A) DATED 30/07/2021.

Exhibit P8 TRUE COPY OF THE REPLY FOR THE OBJECTION SUBMITTED BY THE PETITIONER DATED 27/08/2021.

Exhibit P9 TRUE COPY OF THE RULE 8(1) NOTICE DATED 22/09/2021.

Exhibit P10 TRUE COPY OF THE PAPER PUBLICATION OF RULE 8(1) NOTICE DATED 24/09/2021 IN DEEPIKA NEWSPAPER.

Exhibit P11 TRUE COPY OF THE SA NO.324/2021 DATED 08/11/2021.

Exhibit P12 TRUE COPY OF THE STAY PETITION NO.1533/2021 DATED 08/11/2021.

Exhibit P13 TRUE COPY OF E-COURT STATUS OF THE SA NO.324/2021.

Exhibit P14 TRUE COPY OF NOTICE ISSUED BY ADVOCATE COMMISSIONER DATED 17/02/2022.