IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.K.ABDUL REHIM THURSDAY, THE 17TH FEBRUARY 2011 / 28TH MAGHA 1932 WP(C).No. 2432 of 2011(D) ------------------------- PETITIONER(S): --------------- ST.MARY'S HOTEL (P) LTD., ST.MARY'S TOWERS RAMANCHIRA, MUTHOOR POST, THIRUVALLA, REPRESENTED BY ITS MANAGING DIRECTOR, T.O.ABRAHAM. BY ADV. SRI.K.P.DANDAPANI, SENIOR ADVOCATE SRI.MILLU DANDAPANI RESPONDENT(S): --------------- 1. THE KOTTAYAM DISTRICT CO-OPERATIVE BANK LTD., KOTTAYAM, PIN-686001, REPRESENTED BY ITS GENERAL MANAGER. 2. THE AUTHORISED OFFICER/EXECUTIVE OFFICER, KOTTAYAM DISTRICT CO-OPERATIVE BANK LTD., KOTTAYAM-686001. 3. SRI. SADARUAL ANAM, (ADVOCATE COMMISSIONER APPOINTED IN CMP 3665/2010 COURT OF CHIEF JUDICIAL MAGISTRATE, KOTTAYAM), KANDATHIL BUILDINGS, KOTTAYAM-2. ADV. SRI.E.K.NANDAKUMAR FOR ADL.R4 SRI.A.K.JAYASANKAR NAMBIAR FOR ADDL.R4 SRI.K.JOHN MATHAI FOR ADDL.R4 SRI.P.BENNY THOMAS FOR ADDL.R4 SRI.P.GOPINATH FOR ADDL.R4 SRI.T.A.SHAJI,SC,KOTTAYAM DIST.COOP.BAN FOR R1,2 THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 17/02/2011, ALONG WITH WPC NO. 4710 OF 2011 THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: C.K.ABDUL REHIM, J ------------------------------------------------- W.P(C) Nos.2432/2011 & 4710/2011 -------------------------------------------------- Dated this the 17th day of February, 2011. J U D G M E N T W.P(C) No.2432 of 2001 is filed on the premise that, inspite of pendency of an interim order issued by the Debt Recovery Tribunal in S.A No.158 of 2008, the respondents 1 and 2 are proceeding with steps of recovery under the provisions of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) and that the Chief Judicial Magistrate Court was approached invoking Section 14(1). There existed a controversy as to whether S.A.No.158 of 2008 was disposed of or not. There were two securitisation applications tagged on together before the Debt Recovery Tribunal, viz. S.A.No.20 of 2008 and 158 of 2008. According to respondents 1 and 2, both the applications were disposed of on the very same date, ie; on 18.8.2010. But the petitioner contended that no order in S.A.No.158 of 2008 was issued from the Debt Recovery Tribunal. W.P(C) Nos.2432/2011 & 4710/2011 2 2. W.P(C) No.4710 of 2011 was filed subsequently with a prayer seeking to restrain the coercive steps proceeded against the immovable properties, till 10.3.2011, for enabling the petitioner to prefer statutory appeal against the order of the Debt Recovery Tribunal in S.A.No.158 of 2008, which was obtained by the petitioner subsequently, and produced as Ext.P2. 3. In order to ascertain the exact position regarding disposal of the matters by the Debt Recovery Tribunal, remarks of the Chief Ministerial Officer was called for through the Registry of this Court. It is reported that both the cases were disposed of on 18.8.2010. Free copy of the final order in S.A.No.20 of 2008 was served to the petitioner therein on 17.12.2010, and to the defendant therein on 15.12.2010. It is stated that a copy of final order in S.A.No.158 of 2008 was made available only on a subsequent date and as on the date of the report (4.2.2011) it was informed that availability of free copy of that order for despatch was already been notified by the Tribunal. W.P(C) Nos.2432/2011 & 4710/2011 3 4. However, since both the securitisation applications were already disposed of by the Debt Recovery Tribunal, the challenge now raised against the recovery steps could not be sustained in these writ petitions, because of the availability of the alternative remedy of appeal. Therefore the writ petitions are disposed of reserving rights of the petitioner to challenge orders of the Debt Recovery Tribunal in statutory appeal, if they are aggrieved and if so advised. 5. Learned Senior Counsel appearing for the petitioner made a limited request to this Court to direct the respondents to keep in abeyance coercive steps of dispossession and sale of the property, for a short period, in order to facilitate the petitioner to approach the Appellate Tribunal. The above prayer was opposed by the learned standing counsel appearing for respondents 1 and 2, on the ground that the petitioner has not paid any amount since the last two years and huge amounts are outstanding payment in the loan accounts. However, learned counsel W.P(C) Nos.2432/2011 & 4710/2011 4 for respondents 1 and 2 had submitted that the matter is pending before the Chief Judicial Magistrate Court pursuant to Ext.P7, and it now stands posted to a date in the month of March 2011. He further submits that no coercive steps of dispossession will be taken till the date on which the matter is further posted before the Chief Judicial Magistrate Court, in March 2011. The above submission is recorded and the writ petitions are disposed of reserving liberty as stated above. Sd/- C.K.ABDUL REHIM JUDGE //True Copy// P.A to Judge ab W.P(C) Nos.2432/2011 & 4710/2011 5