Kerala High Court
Donmax Varghese vs Authorised Officer on 10 February, 2025
2025:KER:10667
OP (DRT) NO. 6 OF 2025 1
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE GOPINATH P.
MONDAY, THE 10TH DAY OF FEBRUARY 2025 / 21ST MAGHA, 1946
OP (DRT) NO. 6 OF 2025
SA NO.570 OF 2024 OF DEBT RECOVERY TRIBUNAL, ERNAKULAM
PETITIONER/APPLICANT:
1 DONMAX VARGHESE,AGED 45 YEARS
S/O VARGHESE, 3 A PHASE 1, MATHER WHITE WATERS,
THEVARA P O,ERNAKULAM-686613, ALSO AT PANDANATTU,
KAVALANGAD,OONNUKAL P O, KUTTAMANGALAM,
ERNAKULAM, PIN - 688693
2 KOCHURANI VARGHESE,AGED 43 YEARS
W/O DONMAX VARHESE,3 A PHASE 1, MATHER WHITE WATERS,
THEVARA P O,ERNAKULAM-686613, ALSO AT PANDANATTU,
KAVALANGAD, OONNUKAL P O, KUTTAMANGALAM,
ERNAKULAM, PIN - 688693
BY ADV BABY MATHEW
RESPONDENT/DEFENDANT:
AUTHORISED OFFICER,
THE SOUTH INDIAN BANK LTD, RO-D&D ARCADE,
MANAPULLIKKAVU,KUNNATHURMEDU P O, PALAKKAD,
KERALA, PIN - 678013
SRI. MOHAN JACOB GEORGE
THIS OP (DEBT RECOVERY TRIBUNAL) HAVING COME UP FOR ADMISSION
ON 10.02.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
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OP (DRT) NO. 6 OF 2025 2
JUDGMENT
Petitioners face proceedings under the SARFAESI Act
for recovery of amounts due under a KCC OD (Kissan Cash
Credit Overdraft) facility availed by the petitioners from the
respondent bank.
2. Learned counsel appearing for the petitioners would
submit that Exhibit P3-Securitization Application and Exhibits
P4 and P7 interlocutory applications are pending before the
Tribunal. It is submitted that, the Tribunal, without considering
the interlocutory applications, directed a stay of taking of
physical possession of the secured asset on payment of a sum of
Rs.50 lakhs on or before 31.12.2024. It is submitted that, the
orders were not even passed on the interlocutory applications
and the merits of the contentions raised by the petitioners have
not been considered by the Tribunal.
3. Learned Standing Counsel appearing for the
respondent bank submits that, after availing the loan in the
year 2018, even on the admitted case of the petitioners, the
petitioners have not serviced the loan account properly and
presently, the liability (as on 20.01.2025), is Rs.1,40,76,861.73
(Rupees One Crore forty lakhs seventy six thousand eight
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hundred sixty one and paise seventy three only). It is submitted
that, the petitioners cannot dispute the amount claimed by the
bank before this Court and it is for them to adjudicate any such
issue before the Tribunal. It is submitted that, the Tribunal
passed Exhibit P8 order directing the payment of Rs.50 lakhs as
a condition for stay, after noticing the facts and circumstances
of the case. It is pointed out that the availing of the loan and
the failure to service the loan, as contemplated by the
agreement, is admitted. It is submitted that, in such
circumstances, the petitioners have not made out any case for
grant of any reliefs in this original petition.
4. Learned counsel appearing for the petitioners would
submit that pursuant to the interim order of this Court, on
10.01.2025, the petitioner has remitted a sum of Rs.15 lakhs. It
is submitted that, the Tribunal may, therefore, be directed to
consider and pass orders on Exhibits P4 and P7 applications for
stay pending in S.A. No.570 of 2024 on the file of the Debts
Recovery Tribunal-I, Ernakulam.
5. Having heard the learned counsel appearing for the
petitioner and the learned counsel appearing for the
respondent bank, I am of the view that since the interlocutory
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applications (namely Exhibits P4 and P7) are pending
consideration before the Tribunal and since the petitioners had
complied with the condition imposed in the interim order dated
10.01.2025 of this Court, the original petition can be disposed
of directing the Tribunal to consider and pass orders on
Exhibits P4 and P7 applications, in accordance with the law.
Accordingly, the original petition will stand disposed
of, directing that further coercive steps against the petitioners
shall stand suspended for a period of two weeks from today to
enable the petitioners to seek appropriate orders on Exhibits P4
and P7 interlocutory applications from the Debts Recovery
Tribunal. I make it clear that the Debts Recovery Tribunal shall
consider Exhibits P4 and P7 independent of the fact that the
Tribunal has, by Exhibit P8 order (on the Securitization
Application) directed the payment of a sum of Rs.50 lakhs as a
condition for stay. The Tribunal shall also take into
consideration of the fact that an amount of Rs.15 lakhs has
been remitted by the petitioners pursuant to the interim order
dated 10.01.2025 of this Court while imposing any further
condition to be complied with by the petitioners as a condition
for any stay, that may be granted by the Tribunal. I make it
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clear that I have not expressed any opinion on the merits of the
matter and the Tribunal may impose any condition that it
deems appropriate while considering Exhibits P4 and P7
interlocutory applications. The proceedings against the
petitioners shall remain suspended for a period of two weeks to
enable the petitioners to approach the Tribunal for appropriate
reliefs.
Original petition is ordered accordingly.
Sd/-
GOPINATH P.
JUDGE
ajt
2025:KER:10667
APPENDIX OF OP (DRT) 6/2025
PETITIONER EXHIBITS
Exhibit P1 A TRUE COPY OF THE DEMAND NOTICE DATED
30/10/2023 ISSUED UNDER SECTION 13(2) OF THE
SARFAESI ACT
Exhibit P2 A TRUE COPY OF THE POSSESSION NOTICE DATED
17/05/2024
Exhibit P3 A TRUE COPY OF SECURITY APPLICATION 570/2024
Exhibit P4 A TRUE COPY OF THE APPLICATION IN I A NO 2877
/2024
Exhibit P5 TRUE COPY OF THE ORDER DATED 14/10/2024 IN M
C NO 909/2024 PASSED BY C J M ERNAKULAM
Exhibit P6 A TRUE COPY OF THE NOTICE DATED 15/11/2024
ISSUED BY THE ADVOCATE COMMISSIONER
Exhibit P7 A TRUE COPY OF THE APPLICATION IN I A NO 4526
/2024
Exhibit P8 A TRUE COPY OF THE PROCEEDINGS DATED
Exhibit P9 A TRUE COPY OF THE ACCOUNT STATEMENT FOR THE
PERIOD FROM 27/03/2018 TO 20/01/2025
