IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN WEDNESDAY, THE 14TH DECEMBER 2011 / 23RD AGRAHAYANA 1933 WP(C).No. 32530 of 2011(M) ---------------------------------- CMP.9752/2010 of CHIEF JUDICIAL MAGISTRATE COURT, THRISSUR .................... PETITIONER(S): ------------------- 1. JAMES THOMAS,AGED 56 YEARS, S/O.THOMAS, EDAKKARA HOUSE, GREEN PARK, MANNUTHY P.O., THRISSUR. 2. SALAMMA JAMES,AGED 50 YEARS, W/O.JAMES THOMAS, EDAKKARA HOUSE, GREEN PARK, MANNUTHY P.O., THRISSUR. BY ADV. SRI.ZAKEER HUSSAIN RESPONDENT(S): -------------------- 1. THE AUTHORISED OFFICER, PUNJAB NATIONAL BANK, PALACE ROAD, THRISSUR. 2. PUNJAB NATIONAL BANK, PALACE ROAD, THRISSUR REPRESENTED BY ITS CHIEF MANAGER. THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 14/12/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: svs W.P.(C). NO. 32530/2011 APPENDIX PETITIONER'S EXHIBITS: P1: COPY OF THE DEMAND NOTICE DATED 15/07/2010. P2: COPY OF THE COUNTER FOIL DATED 24/08/2010. P3: COPY OF THE REPLY NOTICE DATED 31/08/2010. P4: COPY OF THE POSSESSION NOTICE DATED 13/11/2010. P5: COPY OF THE STAY ORDER DATED 23/11/2010. P6: COPY OF THE COUNTER FOIL DATED 28.12.2010. P7: COPY OF THE COUNTER FOIL DATED 28.01.2011. P8: COPY OF THE NOTICE DATED 30/11/2011 ISSUED BY THE ADVOCATE COMMISSIONER. RESPONDENT'S EXHIBITS: NIL /TRUE COPY/ P.A. TO JUDGE. svs S. SIRI JAGAN, J. - - - - - - - - - - - - - - - - - - - - - - - W.P.(C)No.32530 of 2011 - - - - - - - - - - - - - - - - - - - - - - - Dated this the 14th day of December, 2011 J U D G M E N T The respondents initiated proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) for recovery of loan amounts due from the petitioners to the respondents. The petitioners filed securitisation application No.709/2010 before the Debts Recovery Tribunal. The DRT granted a stay. That stay continues. The securitisation application itself was finally heard on 25.07.2011, but no orders have been passed yet. The petitioners' complaint now is that while the stay order by the DRT is still in force, the Bank has obtained orders from the Chief Judicial Magistrate for taking possession of the secured asset suppressing the fact that there is a stay by the DRT. The petitioners therefore seek the following reliefs: “(i) issue a writ of mandamus or other appropriate writ, direction or order commanding the respondents not to dispossess the petitioners and their family from their residential building. W.P.(C)No.32530 of 2011 -2- (ii) issue a writ of certiorari or other appropriate writ, order or direction, calling for the files leading to the issuance of Exhibit P8, examine its legality, propriety and quash the same. (iii) declare that the proceedings initiated by the respondents to dispossess the petitioners and their family from the residential building of the petitioners as illegal and void and set aside the same.” The counsel for the Bank submits that when the matter was finally heard on 25.07.2011, the DRT orally stated in open court that the petitioners may pay the balance amount within two months although no order has been pronounced yet. The petition before the Chief Judicial Magistrate was pending at the time when the petitioners approached the DRT with the securitisation application. Since two months' time stated by the DRT is already over they have moved the CJM for orders in the petition already pending, is the contention raised. But the counsel submits that insofar as there is no written order by the DRT cancelling the earlier stay order, they realise their mistake and they undertake that no further steps would be taken pursuant to orders of the CJM, until the DRT passes final orders in the matter. It W.P.(C)No.32530 of 2011 -3- is further submitted that the bank has moved the DRT and the DRT has posted the case to 20.12.2011. In the above circumstances, this writ petition is disposed of recording the undertaking of the respondents that no proceedings would be taken further for taking over possession until the DRT passes orders in the securitisation application either vacating the stay order or disposing of the SA itself. Sd/- S. SIRI JAGAN JUDGE //True copy// P.A. TO JUDGE shg/