State Bank Of Travnacore v. C.R.Anilkumar
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT:
THE HONOURABLE MR.JUSTICE A.M.SHAFFIQUE MONDAY, THE 19TH DAY OF JANUARY 2015/29TH POUSHA, 1936 OP (DRT).No. 4 of 2015 () ----------------------- PETITIONER(S):
------------ STATE BANK OF TRAVANCORE, SARC, CHANDRASEKHARAN NAIR STADIUM COMPLEX, PALAYAM, VIKAS BHAVAN P.O. THIRUVANANTHAPURAM REPRESENTED BY ITS AUATHORISED OFFICER BY ADVS.SRI.SATHISH NINAN SRI.SANTHOSH MATHEW RESPONDENT(S):
------------- 1.
C.R. ANILKUMAR, S/O. C.V. RAGHAVAN, CHEERAMATHUTHARAYIL, ULLALA, THALAYAZHAM P.O. VAIKOM, KOTTAYAM DISTRICT - 686 001 2.
C.R. RAJEEV, SOORYA, BHAGAVATHY NAGAR, AMBALAMUKKU, THIRUVANANTHAPURAM - 695 001 3.
M/S. SPICE VALLEY CONDIMENTS (P) LTD.
TC/17/1909, KALANILAYAM, MUDAVANMUGAL ROAD, POOJAPPURA, THIRUVANANTHAPURAM - 695 001, REPRESENTED BY ITS MANAGIND DIRECTOR 4.
C.R. URESH, S/O. C.V.RAGHAVAN, MANAGING DIRECTOR, M/S. SPICE VALLEY CONDIMENTS (P) LTD.
TC/17/1909, KALANILAYAM, MUDAVANMUGAL ROAD, POOJAPPURA, THIRUVANANTHAPURAM - 695 001 5.
P.S. AJITHKUMAR, A3, TENNIS CLUB ENCLAVE, KWDIAR, THIREUVANANTHAPURAM - 695 001 THIS OP (DEBT RECOVERY TRIBUNAL) HAVING COME UP FOR ADMISSION ON 19-01-2015, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
OP (DRT).No. 4 of 2015 () APPENDIX PETITIONER'S EXTS:
EXT.P1: TRUE COPY OF THE NOTICE UNDER SECTION 13 (2) OF THE SARFAESI ACT ISSUED BY THE PETITIONER ON 4-7EXT.P2: TRUE COPY OF THE AUCTION NOTICE DATED 26-03-2013 PUBLISHED IN THE HINDU DAILY EXT.P3:
TRUE COPY OF THE SECURITIZATION APPLICATION NO.
297/2013 (WITHOUT DOCUMENTS) EXT.P4: TRUE COPY OF THE AUCTION NOTICE PUBLISHED IN MALAYALA MANORAMA DAILY DATED 18-11-2013 EXT.P5: TRUE COPY OF THE JUDGMENT DATED 18-3-2014 IN W.P.C. NO. 229 OF EXT.P6: TRUE COPY OF THE ORDER DATED 17-6-2014 IN I.A. NO. 1411/2014 OF THE DRT, ERNAKULAM EXT.P7: TRUE COPY OF S.A. NO.
232/2014 FILED BY THE FIRST RESPONDENT (WITHOUT DOCUMENTS)
A.M.SHAFFIQUE, J.
....................................................... ....................................................... Dated this the 19th day of January, 2015
JUDGMENT
This Writ Petition is filed challenging Ext. P6 order passed by the Debt Recovery Tribunal, Ernakulam in I.A. No. 1411/2014 in S.A. No. 385/2013, and for a further direction to dispose of S.A. Nos. 297/2013 , 385 of 2013 and 232 of 2014, pending before the Debt Recovery Tribunal ( for short "DRT). .
2. When the matter came up for hearing on admission, this Court had called for a report from the DRT. The DRT in its report dated 15-1-2015 has narrated the events with reference to the aforesaid Securitisation Applications and had requested for six months' time to dispose of the above applications. 3.
The learned counsel for the petitioner submits that as
far as challenge to Ext. P6 order is concerned, the same has already been disposed of by the DRT by vacating the interim stay granted and, therefore, the first relief has become infructuous. As far the second relief is concerned, it is pointed out that all the three SAs are connected matters and are pending for the last several months. The property which is the subject matter in the said SAs have already been sold long back, after complying with the statutory provisions and the liability due to the Bank is more than 1.74 crores. In view of the pendency of the Secturitisation Applications, the auction purchasers have not remitted the balance amount.
4. Under such circumstances, I am of the view that an early disposal of the above Securitisation Applications are necessary. The DRT has sought for six months' time. But having regard to the fact the DRT has already vacated the stay granted in the matter, the aforesaid Securitisation Applications can be
disposed of within a short time. Accordingly, there will be a direction to the DRT to dispose of the aforesaid Securitisation Applications within a period of three months from the date of receipt of a copy of this judgment.
This O.P. (DRT) is disposed of as above.
Sd/- A.M.SHAFFIQUE, JUDGE ani/ /true copy/ P.S. to judge