Indira K V vs South Indian Bank Ltd., Represented By ...
2024 Latest Caselaw 29118 Ker

Kerala High Court

Indira K V vs South Indian Bank Ltd., Represented By ... on 10 October, 2024

                                                            2024:KER:75607

                 IN THE HIGH COURT OF KERALA AT ERNAKULAM

                                     PRESENT

                  THE HONOURABLE MR.JUSTICE BASANT BALAJI

         THURSDAY, THE 10TH DAY OF OCTOBER 2024 / 18TH ASWINA, 1946

                         OP (DRT) NO. 305 OF 2024


PETITIONERS:

     1        INDIRA K V,AGED 60 YEARS
              AKSHAYA NIKUNJAM, VELOOR P.O, KOTTAYAM, PIN - 686003

     2        DEEPAK DILIP,AGED 37 YEARS
              AKSHAYA NIKUNJAM, VELOOR P.O, KOTTAYAM, PIN - 686003

     3        RADHIKA PADMAKUMAR,AGED 33 YEARS
              W/O DEEPAK, AKSHAYA NIKUNJAM, VELOOR P.O, KOTTAYAM,
              PIN - 686003

              BY ADVS.
              V.K.PEERMOHAMED KHAN
              GIRISH KUMAR V.C


RESPONDENTS:

     1        SOUTH INDIAN BANK LTD., REPRESENTED BY ITS BRANCH
              MANAGER,KUMARAKOM BRANCH, DOOR NO.5B, ATTAMANGALAM ARCADE,
              OPPOSITE ATTAMANGALAM CHURCH, KUMARAKOM P.O, KOTTAYAM, PIN
              - 686563

     2        THE AUTHORIZED OFFICER,SOUTH INDIAN BANK LTD., REGIONAL
              OFFICE, 1ST FLOOR, REGENCY SQUARE, K.K. ROAD, COLLETORATE
              P.O, KOTTAYAM, PIN - 686002


OTHER PRESENT:

              SC SRI. SUNIL SANKAR


     THIS OP (DEBT RECOVERY TRIBUNAL) HAVING COME UP FOR ADMISSION ON
10.10.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 OP (DRT) NO. 305 OF 2024

                                      2

                                                              2024:KER:75607
                                  JUDGMENT

(Dated this the 10th day of October, 2024)

Admit. Sri. Sunil Sankar, the learned Standing Counsel takes

notice for the respondents.

2. Ext.P5, is an order passed in I.A.No.3043/2024 to stay the

securitization measures in M.C.No.493/2024. The said I.A was

dismissed on 27.09.2024. The learned counsel for the petitioners

submitted that as per the SARFAESI Act, one month time is provided

for filing appeal before the DRAT and the said period is not over. In

the meanwhile, the bank has taken coercive steps to take physical

possession of the secured assets.

3. Heard the learned Counsel for the petitioners as well as

the learned Standing Counsel for the respondents.

4. Taking note of the fact that the petitioners have the

remedy by way of an appeal before the DRAT, as one months' time

from the date of Ext.P5 order, I deem it appropriate to defer the

physical possession of the secured assets for one month, to enable

the petitioners to approach the DRAT and to obtain orders.

The O.P.(DRT) is disposed of as above.

Sd/-

BASANT BALAJI, JUDGE saap OP (DRT) NO. 305 OF 2024

2024:KER:75607 APPENDIX OF OP (DRT) 305/2024

PETITIONER EXHIBITS

Exhibit -P1 TRUE COPY OF THE AMENDED SECURITIZATION APPLICATION FILED BY THE PETITIONERS IS SA NO. 397 OF 2024 BEFORE THE DEBT RECOVERY TRIBUNAL-II, ERNAKULAM

Exhibit-P2 TRUE COPY OF THE STAY PETITION IN IA NO:

3043 OF 2024 IN SA NO: 397 OF 2024 ON THE FILES OF DRT-II, ERNAKULAM

Exhibit-P3 TRUE COPY OF THE AMENDMENT PETITION IN IA NO.3297 OF 2024 IN SA NO.397 OF 2024 BEFORE THE DRT-II, ERNAKULAM

Exhibit-P4 TRUE COPY OF THE STAY PETITION IN IA NO:

3298 OF 2024 IN SA NO: 397 OF 2024 ON THE FILES OF DRT-II, ERNAKULAM

Exhibit-P5 TRUE COPY OF THE ORDER DATED 27.09.2024 IN IA NO. 3043/2024 IN SA NO 397/2024 OF THE HONOURABLE DRT-II ERNAKULAM