Shafeek I vs The Authorised Officer
2022 Latest Caselaw 9092 Ker

OP(DRT).338/21                       1

                 IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                 PRESENT
                  THE HONOURABLE MR. JUSTICE GOPINATH P.
      WEDNESDAY, THE 27TH DAY OF JULY 2022 / 5TH SRAVANA, 1944
                         OP (DRT) NO. 338 OF 2021
PETITIONER/S:

     1       SHAFEEK I
             AGED 48 YEARS
             S/O ISMAIL KUNJU, ROSE HOUSE, THEKKEMURI, VALLIKUNNAM,
             ALAPPUZHA-690 501
     2       SHAFINA,
             AGED 38 YEARS
             W/O SHAFEEK, ROSE HOUSE, THEKKEMURI, VALLIKUNNAM,
             ALAPPUZHA-690 501
             BY ADVS.
             SADCHITH.P.KURUP
             C.P.ANIL RAJ


RESPONDENT/S:

             THE AUTHORISED OFFICER
             INDIABULLS ASSET RECONSTRUCTION COMPANY LTD, REGISTERED
             OFFICE AT INDIABULLS FIANCE CENTRE, 9TH FLOOR, TOWER-1
             ELPHINSTINE ROAD, MUMBAI-400 013.


      THIS OP (DEBT RECOVERY TRIBUNAL) HAVING COME UP FOR ADMISSION
ON 27.07.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 OP(DRT).338/21                             2



                                   JUDGMENT

This OP(DRT) was filed since the petitioners could not obtain any orders

from the Debts Recovery Tribunal in the securitisation application filed by

them as there was no regular sitting in the Tribunal.

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

counsel appearing for the petitioners states that since regular sittings had

commenced and since the securitisation application filed by the petitioners as

Ext.P3 has now been numbered along with Ext.P4 stay application, the

petitioners may be permitted to pursue their remedies before the Tribunal.

3. It is submitted that some breathing time may be granted to enable

the petitioners to seek reliefs from the Tribunal. It is also pointed out that the

petitioners have paid an amount of Rs.5 lakhs towards the loan liability on

26.7.2022.

Taking all the above facts into consideration, I am of the view that this

original petition can be disposed of without hearing the 1 st respondent and

permitting the petitioners to move the Tribunal for interim relief in the pending

securitisation application. All coercive steps against the petitioners shall be

kept in abeyance for a period of three weeks from today to enable the

petitioners to seek appropriate reliefs from the Tribunal. I make it clear that I

have not expressed any opinion on the merits of the case.

The original petition is disposed of as above.

Sd/-

GOPINATH P.

JUDGE okb/27.7 //True copy// P.S. to Judge

APPENDIX OF OP (DRT) 338/2021

PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF ORDER DATED 22.4.2021 PASSED IN MC NO 74/2021 Exhibit P2 TRUE COPY OF NOTICE DATED 7.12.2021 ISSUED BY ADVOCATE COMMISSIONER Exhibit P3 TRUE COPY OF SA WITH ID NO 10615/21 FILED BEFORE DRT-2 ERNAKULAM Exhibit P4 TRUE COPY OF STAY PETITION WITH ID NO 10617/21 FILED BEFORE DRT-2 ERNAKULAM