Jacobite Syrian Christian ... vs The Federal Bank Limited
2022 Latest Caselaw 6580 Ker

              IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                  PRESENT
               THE HONOURABLE MR. JUSTICE GOPINATH P.
     THURSDAY, THE 9TH DAY OF JUNE 2022 / 19TH JYAISHTA, 1944
                      OP (DRT) NO. 90 OF 2022
          SA 206/2019 OF DEBT RECOVERY TRIBUNAL, ERNAKULAM
PETITIONER/3rd APPLICANT:

             JACOBITE SYRIAN CHRISTIAN FELLOWSHIP TRUST
             KAROTTUPUTHENPURA, PALAKKUZHA, KOOTHATTUKULAM, PIN
             - 686 662 REPRESENTED BY ITS GENERAL SECRETARY
             T.P.VARGHESEKUTTY, AGED 45 YEARS, S/O.T.K.PURAVATH,
             THEKKILAKKAT HOUSE, PALAMATTAM P.O., KOTHAMANGALAM.

             BY ADVS.
             M.A.ABDUL HAKHIM
             JOSEPH GEORGE
             M.A.AZEEZ MUSHTAQUE



RESPONDENTS/DEFENDANTS:

      1      THE FEDERAL BANK LIMITED
             KOOTHATTUKULAM BRANCH, NSS ARCADE, M.C.ROAD,
             KOOTHATTUKULAM, PIN - 686 662 REPRESENTED BY ITS
             BRANCH MANAGER.

      2      AUTHORIZED OFFICER & DEPUTY VICE PRESIDENT
             THE FEDERAL BANK LIMITED, FEDERAL TOWERS, MARINE
             DRIVE, COCHIN - 682 031.

             BY ADV P.PAULOCHAN ANTONY




THIS OP (DEBT RECOVERY TRIBUNAL) HAVING COME UP FOR ADMISSION
ON    09.06.2022,   THE   COURT    ON   THE   SAME   DAY   DELIVERED   THE
FOLLOWING:
 O.P.(DRT)No.90/2022                        2

                                 JUDGMENT

The petitioner Trust is stated to be running an Engineering College,

the property of which is mortgaged to the 1 st respondent Bank.

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

counsel appearing for the petitioner submits that the petitioner has already

filed Securitisation Application before the Debt Recovery Tribunal and there

may be a direction to the Debt Recovery Tribunal to consider and pass

orders on Ext.P2 stay application filed in S.A.No.206/2019.

3. The learned standing counsel appearing for the 1 st respondent

submits that it is for the petitioner to move the Tribunal for interim relief, if

necessary by advancing the case. It is also submitted that the College is not

functional at present.

4. Having regard to the facts of the case, I deem it appropriate to

grant the petitioner an opportunity of obtaining appropriate interim orders

from the Tribunal. Therefore, the Original Petition (DRT) will stand

disposed of directing that all coercive steps against the petitioner shall be

kept in abeyance for period of one month from today to enable the petitioner

to move the Debt Recovery Tribunal for appropriate interim relief.

sd/-

GOPINATH P.

JUDGE acd

APPENDIX OF OP (DRT) 90/2022

PETITIONER EXHIBITS

Exhibit P1 A PHOTOSTAT COPY OF THE SECURITIZATION APPLICATION NO.206/2019 DATED 22/06/2019 OF THE HON'BLE DEBT RECOVERY TRIBUNAL NO.1, ERNAKULAM WITHOUT ITS ANNEXURE.

Exhibit P2 A PHOTOSTAT COPY OF THE I.A.NO.1268/2019 DATED 21/06/2019 IN SECURITIZATION APPLICATION NO.206/2019 OF THE HON'BLE DEBT RECOVERY TRIBUNAL NO.1, ERNAKULAM.

Exhibit P3 A PHOTOSTAT COPY OF THE PROCEEDINGS SHEET IN SECURITIZATION APPLICATION NO.206/2019 OF THE HON'BLE DEBT RECOVERY TRIBUNAL NO.1, ERNAKULAM DOWNLOADED FROM ITS WEBSITE.

Exhibit P4 A PHOTOSTAT COPY OF THE NOTICE DATED 25/01/2022 ISSUED BY THE ADVOCATE COMMISSIONER APPOINTED BY THE HON'BLE ADDITIONAL CHIEF MAGISTRATE'S COURT(SPECIAL COURT FOR MPS & MLAS), ERNAKULAM IN M.C.NO.793/2018.