Punjab National Bank vs Manoj Paul
2023 Latest Caselaw 8468 Ker

                  IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                   PRESENT
                     THE HONOURABLE MR.JUSTICE C.S.DIAS
         MONDAY, THE 7TH DAY OF AUGUST 2023 / 16TH SRAVANA, 1945
                          OP (DRT) NO. 276 OF 2023
     SA 245/2019 PENDING BEFORE DEBT RECOVERY TRIBUNAL-I, ERNAKULAM
PETITIONER:

     1        PUNJAB NATIONAL BANK,
              MEDICAL COLLEGE BRANCH,
              THIRUVANANTHAPURAM, PIN - 695001
              REPRESENTED BY ITS AUTHORIZED OFFICER
              BY ADVS.
              C.AJITH KUMAR
              RAJEEVU L.G.

RESPONDENTS:

     1        MANOJ PAUL,
              PARACKAL HOUSE, ANGADI,
              CHANGANACHERRY, PIN - 686101
     2        BANK OF INDIA,
              BANGALORE MID CORPORATE BRANCH,
              1ST FLOOR, BANK OF INDIA BUILDING,
              NO.11, K.G ROAD, BENGALURU, PIN - 560009
              REPRESENTED BY ITS AUTHORIZED OFFICER
     3        LORVIN INDUSTRIES LTD.,
              5TH FLOOR, LAKSHMI COMPLEX,
              APMC ROAD, SADASHIV NAGAR,
              BELGAUM, PIN - 590001
              REPRESENTED BY ITS MANAGING DIRECTOR.
     4        DEBT RECOVERY TRIBUNAL-I,
              5TH FLOOR, KSHB BUILDING,
              PANAMPILLY NAGAR, KOCHI, PIN - 682036
              REPRESENTED BY THE PRESIDING OFFICER
              BY ADVS.
              SEBIN THOMAS
              AMITH K.S(K/001259/2020)

     THIS OP (DEBT RECOVERY TRIBUNAL) HAVING COME UP FOR ADMISSION ON
07.08.2023, THE COURT ON THE SAME DAY DELIVERED THE following:
 OP(DRT) No.276 of 2023
                                          2


                                 C. S. DIAS, J.
                -------------------------
                    O.P.(DRT) No.276 of 2023
                -------------------------
          Dated this the 07th day of August, 2023

                                 JUDGMENT

The original petition is filed to direct the Debt

Recovery Tribunal-I, Ernakulam (in short,

Tribubnal) to consider and dispose of S.A.

No.245/2019, expeditiously.

2. Pursuant to the order dated 21.07.2023

passed by this Court, the Tribunal, by

communication dated 24.07.2023 has informed

this Court that S.A. No.245/2019 stands listed to

15.09.2023. The Tribunal requires two months

time to dispose of the securitisation application.

3. Heard; Sri.Ajithkumar, the learned Counsel

appearing for the petitioner and Sri.Sebin

Thomas, the learned Counsel appearing for the

respondents.

OP(DRT) No.276 of 2023

4. Having considered the pleadings and

materials on record and after perusing the

communication of the learned Tribunal, in

exercise of the supervisory powers of this Court

under Article 227 of the Constitution of India, I

am inclined to allow the original petition.

Resultantly, I order the original petition as

follows:

(i) The Debt Recovery Tribunal-I, Ernakulam

is directed to consider and dispose of S.A.

No.245/2019, in accordance with law and as

expeditiously as possible, at any rate, within a

period of three months from the date of receipt of

a certified copy of this judgment, after affording

the parties an opportunity of being heard.

Sd/-

C. S. DIAS JUDGE SKP/07-08 OP(DRT) No.276 of 2023

APPENDIX OF OP (DRT) 276/2023

PETITIONER'S EXHIBITS:

EXHIBIT-P1 TRUE COPY OF S.A 245/2019 FILED BY 1ST RESPONDENT BEFORE THE 4TH RESPONDENT (WITHOUT EXHIBITS) EXHIBIT-P2 TRUE COPY OF WRITTEN STATEMENT FILED BY PETITIONER IN EXT.P1 EXHIBIT-P3 TRUE COPY OF WRITTEN ARGUMENTS FILED BY PETITIONER IN EXT.P1 RESPONDENTS' EXHIBITS:NIL

TRUE COPY

P.A. TO JUDGE