Kerala High Court
K. Subramanian vs The Uco Bank on 20 February, 2024
Author: N.Nagaresh
Bench: N.Nagaresh
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR.JUSTICE N.NAGARESH
TUESDAY, THE 20TH DAY OF FEBRUARY 2024/1ST PHALGUNA, 1945
OP (DRT) NO. 77 OF 2024
PETITIONERS:
1 K.SUBRAMANIAN,
AGED 63 YEARS,
S/O. KUTTAPANIKKAN KESAVAN,
MYTHRI (PUTHUVIL VEEDU),
MYLAKKAD P.O., KOLLAM, PIN - 691571
2 B. SHEELA,
AGED 54 YEARS,
W/O. K. SUBRAMANIAN,
MYTHRI (PUTHUVIL VEEDU),
MYLAKKAD P.O., KOLLAM, PIN - 691571
3 SHAJIKUMAR S.,
AGED 56 YEARS,
S/O. LATE SUKUMARAN NAIR,
BEENA NIVAS, PLAKKAD, ADICHANALLOOR P.O,
CHATHANNOOR , KOLLAM, PIN - 691573
BY ADVS.
V.K.PEERMOHAMED KHAN
GIRISH KUMAR V.C
ASNA M.B.
RESPONDENTS:
1 THE UCO BANK,
REPRESENTED BY ITS BRANCH MANAGER,
KOLLAM BRANCH, KHAISE BUILDING,
BEACH ROAD, KOLLAM, PIN - 691001
2 THE AUTHORISED OFFICER, UCO BANK
KOLLAM BRANCH. KHAISE BUILDING,
BEACH ROAD, KOLLAM, PIN - 691000
BY ADVS.
SRI.DEEPAK JOY, SC
SRI.S.EASWARAN
THIS OP (DEBT RECOVERY TRIBUNAL) HAVING COME UP FOR
ADMISSION ON 20.02.2024, THE COURT ON THE SAME DAY
DELIVERED THE FOLLOWING:
OP(DRT) No.77/2024
:2:
JUDGMENT
Dated this the 20th day of February, 2024
The O.P.(DRT) has been filed by the petitioners
seeking to call for Ext.P6 petition for extension of time and
to allow extension of time as prayed for or in the alternate,
to direct the Debts Recovery Tribunal-II, Ernakulam to
reconsider and dispose of Ext.P6 petition for extension of
time in I.A. No.651 of 2024, within the time limit as framed
by this Court.
2. The pleadings would show that the Debts
Recovery Tribunal-II, Ernakulam has passed Ext.P5 order,
wherein the Tribunal, considering the facts and
circumstances of the case and in the interest of justice, has
extended the interim order dated 19.12.2023 subject to
condition that the applicants shall remit ₹25 lakhs as per
order dated 19.12.2023 on or before 08.02.2024. The
Tribunal has clarified that in the event of failure to remit
within the extended period, the interim order shall be
deemed to have been vacated. The case now stands
posted to 23.02.2024.
3. The counsel for the petitioners submitted that the
petitioners could not raise the entire amount of ₹25 lakhs
before the stipulated time. However, the petitioners
deposited an amount of ₹7 lakhs and at the instance of the
Bank, the petitioners have given a third party Cheque for
₹3 lakhs. The petitioners have already moved to the Debts
Recovery Tribunal for extension of time. Such application
will be taken up on 23.02.2024. In the meanwhile, if the
Advocate Commissioner takes over possession of the
secured asset, the petitioners will be put to untold hardship,
contend the petitioners.
4. Standing Counsel submitted that the outstanding
amount payable by the petitioners is exceeding ₹1.85
Crores. The petitioners are consistent defaulters and are
not trying to make payment. The Tribunal has directed to
pay only a small amount of ₹25 lakhs, the petitioners have
failed even to pay the said amount.
5. The prayer of the petitioners in effect is to
enlarge the time for payment fixed by the Debts Recovery
Tribunal. The amount outstanding and payable by the
petitioners exceed ₹1.85 Crores. The Tribunal has directed
the petitioners to remit ₹25 lakhs. According to the
petitioners, they have already remitted ₹10 lakhs by cash
and cheque. In the circumstances, if the petitioners need
enlargement of time for payment, they have to move the
Tribunal. It will not be proper for this Court to enlarge the
time granted by this Court in the absence of any compelling
circumstances.
In the circumstances, the O.P.(DRT) is dismissed.
Sd/-
N. NAGARESH
JUDGE
SR
APPENDIX OF OP (DRT) 77/2024
PETITIONER'S EXHIBITS:
Exhibit-P1 TRUE COPY OF THE STAY PETITION IN
I.A. NO. 4021 OF 2023 IN S.A NO.
210/2023 OF DRT-II, ERNAKULAM DATED
07.12.2023
Exhibit-P2 TRUE COPY OF THE PROCEEDINGS OF THE
DRT-II ERNAKULAM IN SA 210/2023 DATED
19.12.2023 AS UPLOADED IN THE E-DRT
PORTAL
Exhibit-P3 TRUE COPY OF THE ORDER DATED
26.12.2023 IN OP(DRT) NO: 565/2023 OF
THE HONOURABLE HIGH COURT OF KERALA
Exhibit-P4 TRUE COPY OF THE JUDGMENT DATED
17.01.2024 IN WP(C) NO: 531/2024 OF
THE HONOURABLE HIGH COURT OF KERALA
Exhibit-P5 TRUE COPY OF THE PROCEEDINGS IN SA
NO.210/2023 OF THE DRT-II ERNAKULAM
DATED 31.01.2024 AS UPLOADED IN THE
E-DRT PORTAL
Exhibit-P6 TRUE COPY OF THE PETITION FOR
EXTENSION OF TIME IN I.A. NO. 651/
2024 IN S.A NO. 210/2023 OF DRT-II,
ERNAKULAM DATED 12.02.2024
Exhibit-P7 TRUE COPY OF THE NOTICE ISSUED BY THE
ADVOCATE COMMISSIONER DATED
13.02.2024
Exhibit-P8 TRUE COPY OF THE JUDGEMENT IN WP(C)
NO: 5856/2024 DATED 15.02.2024 OF THE
HONOURABLE HIGH COURT OF KERALA
Exhibit-P9 TRUE COPY OF THE SECURITIZATION
APPLICATION FILED BEFORE THE DEBTS
RECOVERY TRIBUNAL-II ERNAKULAM AS SA
NO.210/2023 DATED 24.04.2023 WITHOUT
ITS ANNEXURES
