IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.K.ABDUL REHIM THURSDAY, THE 26TH MAY 2011 / 5TH JYAISHTA 1933 WP(C).No. 26539 of 2010(N) -------------------------- SA.172/2008 of DEBT RECOVERY TRIBUNAL, ERNAKULAM .................... PETITIONER: ------------------ STATE BANK OF TRAVANCORE, POOVARANI BRANCH, KOTTAYAM DISTRICT, REPRESENTED BY ITS BRANCH MANAGER. BY ADVS. SRI.T.SETHUMADHAVAN SRI.PUSHPARAJAN KODOTH SRI.K.JAYESH MOHANKUMAR SMT.ANJU P.NAIR RESPONDENTS: ---------------------- 1. K.T.JOHN @ PAPPACHAN, KOKKATTU HOUSE, POOVARANI.P.O., KOTTAYAM, KERALA-686577. 2. K.T.MATHEW @ MATHACHAN, KOKKATTU HOUSE, MALLLIKASSERY.P.O., POOVARANI, KOTTAYAM, KERALA-686577. R2 BY ADVS. SRI.MOHAN JACOB GEORGE , SC SMT.P.V.PARVATHI SMT.REENA THOMAS SRI.P.A.SALIM SRI.RAMMOHAN.L THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 26/05/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: VK C.K.ABDUL REHIM, J. ------------------------------- W.P.(C).No.26539 of 2010 ------------------------------- Dated this the 26th day of May, 2011. J U D G M E N T Petitioner Bank is seeking a direction to the Debt Recovery Tribunal, Ernakulam, for an early disposal of S.A.No.172/08, pending before that Tribunal. Proceedings initiated by the petitioner against the respondents under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act), consequent to default committed by them in repaying the loan amounts, was challenged before the DRT, Ernakulam, by filing the above said petition under section 17(1) of the Act. It is stated that Ext.P1 securitisation application was filed as early as in the year 2008 and the petitioner had already filed Ext.P2 written statement in the said case. It is further stated that the Tribunal had stayed all further steps with respect to the proceedings and the application was posted for hearing on different dates, from October 2008 onwards. It is contended that the arrears due under the 2 W.P.(C).No.26539 of 2010 loan account at present is more than Rs.113 lakhs and the petitioner Bank was prevented from recovering the amounts. It is the contention that due to the accrual of huge amount of interest, even the value of the secured assets will become insufficient to realise the debt. 2. Learned counsel for the petitioner specifically points out the provisions contained in Section 17(5) of the SARFAESI Act, which insist the Tribunal for disposal of applications filed under section 17(1), within a period of 4 months. It is pointed that, inspite of lapse of nearly 3 years, the matter was not disposed of by the Tribunal. Under such circumstances, the petitioner seeks for a direction as stated above. 3. Heard ; learned counsel on both sides. Considering the facts and circumstances, I am of the view that interest of justice will be secured if a direction is issued to the DRT, Ernakulam, to have an early disposal of the matter, taking note of the provisions contained in section 17(5). 4. Therefore, this writ petition is disposed of directing 3 W.P.(C).No.26539 of 2010 the DRT, Ernakulam, to take all earnest efforts to dispose of S.A.No.172/08 pending on the files of that Tribunal, at the earliest possible, at any rate within a period of 3 (three) months from the date of receipt of a copy of this judgment. C.K.ABDUL REHIM, Judge ami/