Kerala High Court
Kriztle Bath And Wellness Private ... vs Standard Chartered Bank on 7 February, 2025
2025:KER:10349
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE GOPINATH P.
FRIDAY, THE 7TH DAY OF FEBRUARY 2025 / 18TH MAGHA, 1946
OP (DRT) NO. 33 OF 2025
IN THE MATTER OF APPEAL AIR (SA) 1155/2023 & AIR (SA)
1218/2024 PENDING BEFORE THE DRAT, CHENNAI.
PETITIONERS/APPELLANTS 1 & 2 IN DRAT/APPLICANTS 1 & 2 IN
SA:
1 KRIZTLE BATH AND WELLNESS PRIVATE LIMITED
DOOR NO. 40/118 ANNA MARIA COMPLEX P.T USHA ROAD,
ERNAKULAM HEAD P.O KOCHI, PIN - 682 011,
REPRESENTED BY ITS MANAGING DIRECTOR.
2 M.K ANSARI
AGED 63 YEARS, S/O KOCHUMUHAMMED
MANAGING DIRECTOR, KRIZTLE BATH AND WELLNESS
PRIVATE LIMITED RESIDING AT VILLA 50,
KRISTAL GARNET VILLAS THRIKKAKKARA P.O, KOCHI,
PIN - 682 021.
BY ADVS.
C.S.AJITH PRAKASH
T.K.DEVARAJAN
BABU M.
ANCY THANKACHAN
XAVIER K.K.
KRISHNENDU.D
SRUTHY UNNIKRISHNAN
RESPONDENTS/RESPONDENT IN APPEAL/DEFENDANT IN SA/ 3RD
PETITIONER IN DRAT & SA:
1 STANDARD CHARTERED BANK
REPRESENTED BY ITS EXECUTIVE DIRECTOR & HEAD
BUSINESS BANKING PRODUCT, RAJAJI SALAI, CHENNAI,
PIN - 600 001.
2025:KER:10349
OP (DRT) 33/2025 2
2 HEAD CUSTOMER SERVICE
REPRESENTED BY ITS AUTHORIZED OFFICER BUSINESS
BANKING PRODUCT, RAJAJI SALAI, CHENNAI,
PIN - 600 001.
3 BRANCH MANAGER
STANDARD CHARTERED BANK, M.G ROAD, ERNAKULAM,
PIN - 682 015.
4 THE AUTHORIZED OFFICER
STANDARD CHARTERED BANK 23-25,
MAHATMA GHANDI ROAD FORT MUMBAI, MAHARASHTRA,
PIN - 400 001.
5 COMMITTEE FOR STRESSED MSME (MICRO SMALL AND
MEDIUM ENTERPRISES)
STANDARD CHARTERED BANK, C38/39 G- BLOCK,
CRESENZO BUILDING BANDRA, KURLA COMPLEX ,
BADRA EAST MUMBAI, PIN - 400 051.
6 SYED MOHAMAD
AGED 63 YEARS, S/O V.M SEETHI,
NO.3/222, VALIYAVEETTIL, NH-17 BEHIND HP PUMP,
SEALORD CHERANALLUR, ERNAKULAM, PIN - 682 034.
BY ADVS.
V. SHYAMOHAN
MATHEW A KUZHALANADAN(K/1609/2001)
KURIAKOSE VARGHESE(D/2090/2003)
MOHAN SHYAM(D/3903-C/2010)
SRADHAXNA MUDRIKA(K/815/2020)
DEEPA R MENON(K/000967/2015)
NABEEL B.A.(K/002477/2023)
NIKITHA MARTHA GIJU(K/003303/2023)
THIS OP (DEBT RECOVERY TRIBUNAL) HAVING COME UP FOR
ADMISSION ON 07.02.2025, THE COURT ON THE SAME DAY
DELIVERED THE FOLLOWING:
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OP (DRT) 33/2025 3
JUDGMENT
The petitioners have approached this Court being
aggrieved by the fact that at a time when the appeals filed by
the petitioners against two interlocutory orders in
S.A.No.374/2023 on the files of the Debts Recovery Tribunal-I,
Ernakulam, are pending consideration, the respondent bank is
proceeding with steps to take physical possession of the
secured assets.
2. The learned counsel appearing for the petitioners
submits that, earlier the petitioners had deposited a sum of
Rs.1.5 crores as a condition for considering the application filed
by the petitioners for One Time Settlement in terms of the
interim order in W.P(C)No.18513/2021. It is submitted that the
application for One Time Settlement was rejected, and the writ
petition filed by the petitioners, raising a contention that there
was non-adherence with the guidelines issued by the Reserve
Bank of India, improper classification of the account as a Non
Performing Asset and illegal rejection of a complaint filed
before the Banking Ombudsman, was also dismissed by Ext.P7
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judgment. It is submitted that Ext.P7 judgment was also
confirmed by a Division Bench, reserving the liberty of the
petitioners to challenge the proceedings initiated under the
provisions of the Securitisation and Reconstruction of Financial
Assets and Enforcement of Security Interest Act, 2002
(SARFAESI Act). It is submitted that it is thereafter the
petitioners approached the Debts Recovery Tribunal-I,
Ernakulam, by filing the Securitisation Application. It is
submitted that pleadings are complete in the Securitisation
Application, and the Securitisation Application is itself listed for
consideration on 18-02-2025. It is submitted that the
petitioners are willing to make some further deposit as a
condition for stay and also to withdraw the appeals filed before
the Debts Recovery Appellate Tribunal, Chennai. It is
submitted that since the Securitisation Application itself is
listed for consideration on 18-02-2025, the bank should not be
permitted to take physical possession of the secured assets, as
the Securitisation Application itself will become infructuous if
the bank proceeds to take physical possession.
3. The learned counsel appearing for the respondent bank
submits that if the petitioners were to deposit some substantial
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amounts, the steps for taking physical possession can be
deferred subject to the condition that the petitioners shall get
ready to argue the matter before the Debts Recovery Tribunal-I,
Ernakulam, and shall not seek adjournment on 18-02-2025.
4. The learned counsel for the petitioners would submit
that the petitioners will deposit a further sum of Rs.25 lakhs on
or before 12-02-2025 and a further sum of Rs.25 lakhs by the
first week of March.
5. The learned counsel for the respondent bank submits
that the petitioners may be required to deposit the second
instalment of Rs.25 lakhs on or before 28-02-2025.
5. Having heard the learned counsel appearing for the
petitioners and the learned counsel appearing for the
respondent bank, this original petition will stand disposed of,
directing that the steps for taking physical possession of the
secured asset shall stand deferred till 10-03-2025, subject to
the condition that the petitioners deposit a sum of Rs.25 lakhs
by 5.00 P.M on 12-02-2025 and a further sum of Rs.25 lakhs by
5.00 P.M. on 28-02-2025. If the petitioners do not deposit the
amounts as aforesaid, it will be open to the respondent bank to
take physical possession of the secured assets. I make it clear
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that under no circumstances will any further application for
extension of time be entertained, and if by 10-03-2025, the
Securitisation Application pending before the Debts Recovery
Tribunal-I, Ernakulam, is not disposed of finally, it is for the
petitioners to seek appropriate interim relief from the Debts
Recovery Tribunal-I, Ernakulam. The appeals filed by the
petitioners before the Debts Recovery Appellate Tribunal, will
be withdrawn unconditionally.
The original petition will stand disposed of as above.
Sd/-
GOPINATH P.
JUDGE
ats
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APPENDIX OF OP (DRT) 33/2025
PETITIONERS' EXHIBITS
Exhibit P1 A TRUE COPY OF THE NOTIFICATION NO:
RBI/2021 /17 DOR NO: BP-BC 4/21-
4.048/2020-21 DATED 06/08/2020
Exhibit P2 A TRUE COPY OF THE COMMUNICATION DATED
30/08/2020 SUBMITTED BY THE PETITIONER
TO THE MANAGER STANDARD CHARTERED BANK
Exhibit P3 A TRUE COPY OF THE COMMUNICATION DATED
17/05/2021 ISSUED BY THE 2ND RESPONDENT
BANK TO THE 1ST PETITIONER
Exhibit P4 A TRUE COPY OF THE NOTIFICATION
NO:2021/22/32 DATED 05/05/2021
Exhibit P5 A TRUE COPY OF INTERIM ORDER DATED
09/09/2021 IN WP(C) 18513/2021
Exhibit P6 A TRUE COPY OF THE INTERIM ORDER DATED
17/08/2022 IN WP(C) NO: 18513/2021
Exhibit P7 A TRUE COPY OF THE JUDGMENT IN WP (C)
NO: 18513/2021 DATED 10/03/2023
Exhibit P8 A TRUE COPY OF THE AMENDED SA 374/2023
FILED BY THE PETITIONER BEFORE THE
HON'BLE DRT, KOCHI BENCH WITHOUT ITS
ANNEXURES
Exhibit P9 A TRUE COPY OF THE STAY PETITION IA
NO:2366/2024 IN SA 374/2023 FILED BY
THE PETITIONERS
Exhibit P10 A TRUE COPY OF THE CONSOLIDATED
PROCEEDINGS OF THE DRT DATED
09/05/2024, 20/05/2024, 28/05/2024
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Exhibit P11 A TRUE COPY OF THE PROCEEDING DATED
08/07/2024 DRT 1 ERNAKULAM IN SA IN IA
Exhibit P12 A TRUE COPY OF THE JUDGMENT DATED
Exhibit P13 A TRUE COPY OF THE APPEAL PETITION
DATED 19/07/2024 NUMBER AIR (SA)
1155/2023 ALONG WITH THE STAY PETITION
AND WAIVER PETITION
Exhibit P14 A TRUE COPY OF THE APPEAL PETITION IN
AIR (SA) 1218/2024 DATED 06/08/2024
ALONG WITH STAY PETITION AND WAIVER
PETITION
Exhibit P15 A TRUE COPY OF THE ORDER DATED
20.09.2024 IN OP(DRT) 290/2024
Exhibit P16 A TRUE COPY OF THE INTERIM ORDER DATED
5.12.2024 IN I A. 1/2024 IN OP(DRT)
Exhibit P17 A TRUE COPY OF THE JUDGMENT DATED
17.12.2024 IN OP(DRT) 290/2024
Exhibit P18 A TRUE COPY OF THE I A. FILED BY THE
PETITIONER BEFORE THE DRAT CHENNAI IN
Exhibit P19 A TRUE COPY OF THE ORDER IN I A NO
610/2024 IN AIR (SA) 1155/2024
Exhibit P20 A TRUE COPY OF THE ORDER IN I A NO
591/2024 IN AIR (SA) 1218/2024
Exhibit 21 A TRUE COPY THE ORDER IN MC 632 OF 2023
DATED 20-04-2024 OF THE HON'BLE
ADDITIONAL CHIEF JUDICIAL MAGISTRATE
COURT, ERNAKULAM
