Kerala High Court
Divyalakshmi vs Punjab National Bank on 17 March, 2025
2025:KER:22575
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE GOPINATH P.
MONDAY, THE 17TH DAY OF MARCH 2025 / 26TH PHALGUNA, 1946
OP (DRT) NO. 96 OF 2025
SA NO.368/2023, DEBT RECOVERY TRIBUNAL-2, ERNAKULAM
PETITIONER/APPLICANT:
DIVYALAKSHMI,
AGED 43 YEARS,
W/O SANILKUMAR, VADAKKEMADOM HOUSE, THOTTAPUZHASSERY,
MARAMON P.O., KOZHENCHERRY, THOTTAPUZHASSERY VILLAGE,
THIRUVALLA TALUK, PATHANAMTHITTA DISTRICT,PIN - 689549.
BY ADVS.
VARGHESE C.KURIAKOSE
P.J.JOSE
AMRITHA.J
KURUVILLA MATHEW
VIPIN C. VARGHESE
MARIYA MATHEW
ANJANA JOSE
RESPONDENTS/ DEFENDANTS:
1 PUNJAB NATIONAL BANK,
KOZHENCHERRY BRANCH CIRCLE SASTHRA CENTRE, VAISHNAVI
TOWER, BYE PASS ROAD, KUMARICHANTHA, AMBALATHARA P.O.
THIRUVANANTHAPURAM REP. BY ITS CHIEF MANAGER,
PIN - 695026.
OP (DRT) NO. 96 OF 2025
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2 THE AUTHORISED OFFICER,
PUNJAB NATIONAL BANK, KOZHENCHERRY BRANCH,
CIRCLE SASTHRA CENTRE, VAISHNAVI TOWER,
BYE PASS ROAD, KUMARICHANTHA, AMBALATHARA P.O.
THIRUVANANTHAPURAM, PIN - 695026.
BY ADVS.
C.AJITHKUMAR, SC
VARSHA S.S.(K/000877/2024)
THIS OP (DEBT RECOVERY TRIBUNAL) HAVING COME UP FOR
ADMISSION ON 17.03.2025, THE COURT ON THE SAME DAY
DELIVERED THE FOLLOWING:
OP (DRT) NO. 96 OF 2025
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JUDGMENT
This Original Petition has been filed essentially seeking
extension of time to pay the 3rd instalment payable in terms of
Ext.P12 order dated 17.12.2024 in S.A.No.368/2023. By Ext.P12
order, the petitioner was granted a stay of further proceedings
under the SARFAESI Act subject to the condition of payment of
Rs.5 lakhs, out of which Rs.1 lakh has to be paid on or before
24.12.2024; a further sum of Rs.2 lakhs on or before 15.01.2025
and the final instalment of Rs.2 lakhs on or before 15.02.2025. It is
submitted that the petitioner has paid the first two instalments and
requires some time to make the payment of Rs.2 lakhs payable on
or before 15.02.2025.
2. During the course of the arguments, the learned
counsel appearing for the respondent Bank submitted that this is a
case where the Bank had filed an Original Application under the
Recovery of Debts And Bankruptcy Act, 1993 as early as in 2021
and proceedings under Section 14 of the SARFAESI Act were
initiated as early as in the year 2022. He also pointed out to Ext.P6
judgment of this Court, where this Court had permitted the
petitioner to avail the benefit of the One Time Settlement then
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offered to the petitioner. It is submitted that the Tribunal has
imposed a very reasonable condition and no ground has been made
out for extension of time.
3. Faced with this situation, the learned counsel
appearing for the petitioner submits that the petitioner will clear
the entire liability by 15.07.2025. This proposal of the learned
counsel appearing for the petitioner is acceptable to the learned
counsel appearing for the respondent Bank. However, he states
that the petitioner may be required to pay the sum of Rs.2 lakhs
payable by him in terms of Ext.P12 order by 30.04.2025.
Having heard the learned counsel appearing for the
petitioner and the learned counsel appearing for the respondent
Bank and considering the submissions made as recorded above,
this Original Petition stands disposed of directing that the
petitioner shall be permitted to clear the liability to the respondent
Bank in full by paying a further sum of Rs.2 lakhs on or before
30.04.2025 and paying the balance liability together with any
accrued interest, charges and costs up to the date of payment on or
before 15.07.2025. It will always be open to the petitioner to
approach the Bank for One Time Settlement within the period as
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aforesaid. However , the filing of the application for One Time
Settlement will not absolve the petitioner of the responsibility to
pay the amounts as directed in this judgment. Since the matter is
thus disposed of on consent, it is further directed that the
petitioner shall withdraw S.A.No.368/2023 pending before the
Debts Recovery Tribunal - II, Ernakulam, within a period two
weeks from the date of receipt of a certified copy of this judgment.
It is made clear that if the petitioner complies with the terms and
conditions of this judgment, further proceedings under the
SARFAESI Act shall remain suspended.
Sd/-
GOPINATH P.
JUDGE
DK
OP (DRT) NO. 96 OF 2025
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APPENDIX OF OP (DRT) 96/2025
PETITIONER EXHIBITS
Exhibit P1 TRUE PHOTOSTAT COPY OF THE
S.A.NO.368/2023 BEFORE THE DRT-2,
ERNAKULAM DATED 18.07.2023 WITHOUT
ANNEXURES
Exhibit P2 TRUE PHOTOSTAT COPY OF THE NOTICE OF
DEMAND UNDER SECTION 13 (2) DATED
07.09.2017 WITH TYPED COPY
Exhibit P3 TRUE PHOTOSTAT COPY OF THE LAWYER
NOTICE DATED 24.02.2020 ISSUED BY ADV.
LAKSHMY.S WITH TYPED COPY
Exhibit P4 TRUE PHOTOSTAT COPY OF THE ORDER IN
M.C.NO.205/2022 BEFORE CJM
PATHANAMTHITTA DATED 23.06.2022
Exhibit P5 TRUE PHOTOSTAT COPY OF THE NOTICE
ISSUED BY ADVOCATE COMMISSIONER, SMT.
SADIYA SHEREEF DATED 20.07.2022
Exhibit P6 TRUE PHOTOSTAT COPY OF THE JUDGMENT
DATED 05.01.2023 IN W.P.(CIVIL)
NO.41679/2022 PASSED BY HON'BLE HIGH
COURT OF KERALA
Exhibit P7 TRUE PHOTOSTAT COPY OF THE SALE NOTICE
DATED 12.07.2023 ISSUED BY THE
RESPONDENT BANK
Exhibit P8 TRUE PHOTOSTAT COPY OF THE ANOTHER
SALE NOTICE PUBLISHED ON 17.05.2024
ISSUED BY THE RESPONDENT BANK
Exhibit P9 TRUE PHOTOSTAT COPY OF THE NOTICE
APPOINTED BY ADVOCATE COMMISSIONER IN
M.C.NO.205/2022 DATED 06.12.2024 FOR
TAKING POSSESSION
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Exhibit P10 TRUE PHOTOSTAT COPY OF THE AMENDMENT
PETITION DATED 10.12.2024 IN IA NO.
4895/2024 IN S.A.NO.368/2023 BEFORE
DRT-II, ERNAKULAM FILED BY THE
PETITIONER
Exhibit P11 TRUE PHOTOSTAT COPY OF THE STAY
PETITION DATED 10.12.2024 IN IA
NO.4879/2024 IN S.A.NO.368/2023 BEFORE
DRT-II, ERNAKULAM FILED BY THE
PETITIONER
Exhibit P12 TRUE PHOTOSTAT COPY OF THE INTERIM
ORDER DATED 17.12.2024 IN
S.A.NO.368/2023 PASSED BY DRT-II,
ERNAKULAM
Exhibit P13 TRUE PHOTOSTAT COPY OF THE PROCEDURAL
ORDER DATED 07.01.2025 IN
S.A.NO.368/2023 PASSED BY DRT-II,
ERNAKULAM
Exhibit P14 TRUE PHOTOSTAT COPY OF THE EXTENSION
PETITION FILED BY THE PETITIONER IN IA
NO. 703/2025 IN S.A.NO.368/2023 DATED
17.02.2025 BEFORE DRT-II, ERNAKULAM
Exhibit 15 TRUE PHOTOSTAT COPY OF THE PROCEDURAL
ORDER DATED 18.02.2025 IN
S.A.NO.368/2023 PASSED BY DRT-II,
ERNAKULAM
