Kerala High Court
Risheraj V.R vs Authorised Officer on 21 May, 2024
Author: N.Nagaresh
Bench: N.Nagaresh
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR.JUSTICE N.NAGARESH
TUESDAY, THE 21ST DAY OF MAY 2024 / 31ST
VAISAKHA, 1946
OP (DRT) NO. 177 OF 2024
SA NO.34 OF 2022 OF DEBTS RECOVERY TRIBUNAL,
ERNAKULAM
PETITIONER:
1 RISHERAJ V.R,
AGED 47 YEARS, S/O RAJAPPAN P.K,
VATTEKKAT HOUSE, KARIMUGHAL P.O,
PUTHENCRUZ, ERNAKULAM, PIN - 682 302.
2 SOORAJ V.R,
S/O RAJAPPAN P.K, VATTEKKAT HOUSE,
KARIMUGHAL P.O, PUTHENCRUZ, ERNAKULAM,
PIN - 682 302.
3 RAJAPPAN P.K,
VATTEKKAT HOUSE, KARIMUGHAL P.O,
PUTHENCRUZ, ERNAKULAM, PIN - 682 302.
BY ADVS.
K.MOHAMMED RAFEEQ
BIBIN MATHEW
P.M.MATHEW
AMARNATH R LAL
SANALDEV E.P.
VISHNUMAYA ANANDAN
SONYMON ANTONY
AJMAL V. KARIM
OP(DRT) No. 177 of 2024
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RESPONDENT:
AUTHORISED OFFICER,
DCB BANK, BRANCH OFFICE AT NO.6,
RAJAJI ROAD, OPPOSITE TENNIS STADIUM,
NUNGAMBAKKAM, CHENNAI, PIN - 600 034.
BY ADV
JITHIN SAJI ISAAC
THIS OP (DEBT RECOVERY TRIBUNAL) HAVING COME
UP FOR ADMISSION ON 21.05.2024, THE COURT ON THE
SAME DAY DELIVERED THE FOLLOWING:
OP(DRT) No. 177 of 2024
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JUDGMENT
Dated this the 21st day of May, 2024
The petitioners against whom the Bank has initiated
proceedings under the Securitisation and Reconstruction of
Financial Assets and Enforcement of Security Interest Act,
2002, have approached this Court seeking the following
reliefs:
a) To direct the respondent to keep in abeyance of
the SARFAESI measures initiated in order dated
06.05.2024 in S.A. No. 34/2022 before the Debt
Recovery Tribunal-1, Ernakulam for a period of four
weeks to enable petitioners to obtain an order of stay in
the said SARFAESI measures from the Debt Recovery
Tribunal, Chennai.
b) Issue any such order that this Hon'ble Court may
deem appropriate and proper on the facts and
circumstances of the above case.
2. Counsel for the petitioners submits that the
Debts Recovery Tribunal has dismissed the S.A. filed
by the petitioners and the petitioners want to prefer
appeal before the Debts Recovery Appellate Tribunal
invoking Section 18 of the Securitisation and
Reconstruction of Financial Assets and Enforcement of
Security Interest Act, 2002. The Debts Recovery
Tribunal has not been issued certified copy of the order
so far. If in the meanwhile the Bank takes coercive
proceedings and takes over physical possession of the
secured asset, the petitioners will be put to irreparable
loss. The petitioners therefore seek to direct the
respondent not to proceed against the petitioners for a
limited period, so that the petitioners can approach
Appellate Tribunal and obtain favorable interim and
final orders.
3. Standing Counsel representing the Bank
submitted that the order of the Tribunal was passed on
06.05.2024 and the statutory period is yet not over.
The Bank will not take any coercive proceedings, till
the statutory appeal period is over.
4. Taking into consideration the afore said
statement made on behalf of the respondents and
taking into consideration the fact that there is still more
than 15 days remaining for the expiry of the statutory
appeal period, no further orders are necessary in the
O.P.(DRT).
The O.P.(DRT) is therefore disposed of
recording the statement made on behalf of the
respondents.
Sd/-
N. NAGARESH
AMR
JUDGE
APPENDIX OF OP (DRT) 177/2024
PETITIONERS' EXHIBITS
Exhibit-P1 TRUE COPY OF THE AMENDED S.A.
NO.34/2022 ON THE FILES OF THE DEBT
RECOVERY TRIBUNAL -1, ERNAKULAM
WITHOUT ITS ANNEXURES.
Exhibit-P2 THE TRUE COPY OF THE DAILY ORDER DATED
06/05/2024 IN S.A NO.34/ 2022 OF DRT-1
ERNAKULAM UPLOADED IN THE DRT WEBSITE.
Exhibit-P3 THE TRUE COPY OF THE E-FILING RECEIPT
DATED 08/05/2024 WITH DAIRY
NO.442/2024 FOR THE CERTIFIED COPY OF
FINAL ORDER IN S.A NO.34/ 2022 OF DRT-
1 ERNAKULAM.
