K.R.Suresh Kumar vs Union Of India
2022 Latest Caselaw 6383 Ker

                IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                 PRESENT
                 THE HONOURABLE MR. JUSTICE GOPINATH P.
         FRIDAY, THE 3RD DAY OF JUNE 2022 / 13TH JYAISHTA, 1944
                        OP (DRT) NO. 165 OF 2021
PETITIONERS:

     1     K.R.SURESH KUMAR
           AGED 53 YEARS
           S/O.LATE K.V.RAMAKRISHNAN, PROPRIETOR,
           M/S. KALLADA TOURS AND TRAVELS, HILL ROAD, IRINJALAKUDA,
           THRISSUR DISTRICT 680 125

     2     SINDHU K.T.
           W/O.SURESH KUMAR K.R., RESIDING AT KALLADA HOUSE,
           HILL ROAD, IRINJALAKUDA, THRISSUR DISTRICT 680 125

     3     M/S. SANGEETHA HOTELS
           DOOR NO.XII/332, ERNAKULAM ROAD, OLLUR,
           THRISSUR DISTRICT 680 306, REP.BY ITS MANAGING PARTNER
           K.R.SURESHKUMAR

           BY ADVS.
           G.HARIHARAN(K/000066A/1976)
           PRAVEEN.H.
           K.S.SMITHA
           V.R.SANJEEV KUMAR


RESPONDENTS:

     1     UNION OF INDIA
           MINISTRY OF FINANCE, 3RD FLOOR, JEEVAN DEEP BUILDING,
           SANSAD MARG, NEW DELHI 110 001, REP.BY ITS PRINCIPAL
           SECRETARY

     2     THE REGISTRAR
           DEBT RECOVERY TRIBUNAL -II, KSHB BUILDING,
           PANAMPILLY NAGAR, ERNAKULAM 682 036

     3     M/S. SOUTH INDIAN BANK LTD.
           REGIONAL OFFICE AT 6/950-C&D, AKP CENTRE,
           CHRIST COLLEGE ROAD, CHRIST NAGAR, IRINJALAKKUDA 680 125,
           REP.BY ITS CHIEF MANAGER

           BY ADV SUNIL SHANKER (SC)


     THIS OP (DEBT RECOVERY TRIBUNAL) HAVING COME UP FOR ADMISSION ON
03.06.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 O.P.(DRT) No.165 of 2021              2



                           JUDGMENT

The Petitioner has approached this Court with this O.P.(DRT) at the

time when there was no regular sitting at the Debts Recovery Tribunal,

Ernakulam. It is now reported that the Debts Recovery Tribunal has

commenced regular sitting.

The learned counsel for the petitioner points out that pursuant to

interim orders passed by this Court, the petitioner was deposited a total

sum of Rs.1,50,00,000/-(Rupees One Crore Fifty Lakhs Only) towards the

loan account. It is submitted that the petitioner has also approached the

respondent bank with an application for one time settlement.

Having regard to the aforesaid facts, this O.P.(DRT) will stand

disposed of, directing that till orders are passed on Ext.P3 stay

application filed by the petitioner before the Debts Recovery Tribunal,

Ernakulam, further coercive steps against the petitioner shall be kept in

abeyance. The tribunal shall endevour to dispose of Ext.P3 with 6 weeks

from the date of receipt of a copy of this judgment. In the meanwhile it

will also open to the petitioner to pursue his application for one

settlement with the Bank. This O.P(DRT) will stand disposed of as above.

Sd/-

GOPINATH P.

ats                                               JUDGE


                      APPENDIX OF OP (DRT) 165/2021

PETITIONER EXHIBITS

Exhibit P1                 TRUE COPY OF THE NOTICE DATED 18.6.2021

ISSUED BY THE 3RD RESPONDENT U/S 13(2) OF SARFEASI ACT AND RECEIVED BY THE APPLICANTS ON 28.6.2021

Exhibit P2 TRUE COPY OF THE MEMORANDUM OF SECURITIZATION APPLICATION NUMBERED AS S.A. NO.188/2021 PENDING BEFORE THE DEBT RECOVERY TRIBUNAL-I, ERNAKULAM.

Exhibit P3 TRUE COPY OF THE STAY PETITION FILED BY THE PETITIONERS ALONG WITH EXHIBIT P2 APPLICATION

Exhibit P4 TRUE COPY OF THE RECEIPT EVIDENCING PAYMENT OF RS.1,00,405/- TOWARDS COURT FEE FOR FILING EXHIBIT P2 APPEAL

Exhibit P5 TRUE COPY OF THE CASE STATUS REPORT PERTAINING TO EXHIBIT P2 SA PENDING BEFORE THE DRT - I ERNAKULAM.

Exhibit P6 TRUE COPY OF THE NOTICE DATED 6.9.2021 ISSUED BY THE 3RD RESPONDENT BANK U/S. 13(4) OF THE SARFAESI ACT

Exhibit P7 TRUE COPY OF THE NOTICE DATED 27.9.2021 AND RECEIVED BY THE PETITIONERS ON 1.10.2021