IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN WEDNESDAY, THE 19TH OCTOBER 2011 / 27TH ASWINA 1933 OP (DRT).No. 2790 of 2011(O) ------------------------------------------- SA.96/2009 OF DEBTS RECOVERY TRIBUNAL, ERNAKULAM .................... PETITIONERS: ---------------------- 1. SURESH P.V., AGED 42 YEARS, S/O. VIJAYAN PILLAI NARAYANAN, PLACHERIL HOUSE, ADIMALI P.O., MANNAMKANDOM VILLAGE, IDUKKI DIST. 2. SALIM K.S., AGED 46 YEARS, S/O.SIVASANKARAN, THEKKATTIL HOUSE, KALLARKUTTY P.O., KAITHAPARA HOUSE, VELLATHOOVAL VILLAGE, IDUKKI DISTRICT. BY ADV. SRI.GEO PAUL, SRI.SANU MATHEW, SRI.C.R.PRAMOD, SRI.S.ASHOK KUMAR., SRI.NOEL JOSEPH, SRI.M.B.SANDEEP, SRI.K.V.REJANISH. RESPONDENT(S): --------------------------- 1. DEBTS RECOVERY TRIBUNAL, (KERALA & LAKSHADWEEP), VTH FLOOR, KSHB BUILDING, PANAMPILLY NAGAR, KOCHI-682 036, REPRESENTED BY THE PRESIDING OFFICER. 2. P.S.SUJETH, AGED 43 YEARS, S/O.SREEDHARAN V.K., PUTHENPURACKAL HOUSE, BISON VALLEY P.O., IDUKKI DISTRICT, PIN-685 565. 3. ING VYSYA BANK LTD., REPRESENTED BY ITS BRANCH MANAGER, MANORAMA JUNCTION, PANAMPILLY NAGAR, ERNAKULAM, KOCHI-682 036. OP (DRT).No. 2790 of 2011(O) 4. ING VYSYA BANK, REPRESENTED BY BRANCH MANAGER, PANJIKUNNEL BUILDING, ERATTUPETTA ROAD, PALA, KOTTAYAM DISTRICT, PIN-686 575. 5. AUTHORISED OFFICER AND REGIONAL HEAD, (SME) ING VYSYA BANK LTD., REGIONAL OFFICE, PARAPILLIL ARCADE, PANAMPILLY NAGAR, ERNAKULAM, KOCHI-682 036. 6. KUMARDAS, AGED 57 YEARS, S/O.KMP PILLAI, RESIDING AT FLAT NO.306, BANASANKARI BALAJI PARADISE, KANAKAPURA ROAD, BANGALORE, AUTHORIZED OFFICER AND ZONAL RECOVERY MANAGER, ING VYSYA BANK LTD., REGIONAL OFFICE, NO.22, HARA CHAMBERS, KH ROAD, BANGALORE-590 027. R2 BY ADV. SRI.PRAVEEN K. JOY, SRI.K.H.ASHARAF, SMT.RENJINI RAJENDRAN. R3 TO R5 BY ADV. SRI.R.S.KALKURA, SRI.M.S.KALESH. THIS OP (DEBT RECOVERY TRIBUNAL) HAVING BEEN FINALLY HEARD ON 19/10/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: rs OP (DRT).No. 2790 of 2011(O) APPENDIX PETITIONER'S EXHIBITS: EXT.P1 : THE TRUE PHOTOCOPY OF THE BASIC LAND TAX RECEIPT DATED 2.2.2009 ISSUED BY THE BISON VALLEY VILLAGE OFFICE. EXT.P2 : COPY OF THE POSSESSION CERTIFICATE DATED 2.2.2009 ISSUED BY THE BISON VALLEY VILLAGE OFFICER. EXT.P3 : THE TRUE PHOTO COPY OF THE JUDGMENT OF THIS HON'BLE COURT DATED 20.2.09 IN WPC NO.5684/2009. EXT.P4 : THE TRUE PHOTO COPY OF S.A.NO.96/2009 FILED BEFORE THE HON'BLE DEBTS RECOVERY TRIBUNAL, ERNAKULAM. EXT.P5 : THE TRUE PHOTO COPY OF THE WRITTEN STATEMENT FILED BY THE PETITIONERS HEREIN SA 96/2009. EXT.P6 : THE TRUE PHOTO COPY OF THE WRITTEN STATEMENT FILED IN SA 96/2009 BY THE VYSYA BANK. RESPONDENT'S EXHIBITS:- EXT.R2(a): COPY OF THE AMENDMENT APPLICATION IN S.A. NO.96/2009 BEFORE DRT. EXT.R2(b): COPY OF THE RECEIVER APPLICATION IN S.A. NO.96/2009 BEFORE DRT, ERNAKULAM. //TRUE COPY// P.A. TO JUDGE rs S. SIRI JAGAN, J. ------------------------------------------- O.P.(DRT) No.2790 OF 2011 ---------------------------------------------- Dated this the 19th day of October, 2011 JUDGMENT The petitioners are respondents 4 and 5 in Securitisation Application No.96 of 2009 pending before the Debts Recovery Tribunal, Ernakulam. They are auction purchasers of the secured asset sold by the financial institution under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act. The petitioners seek expeditious disposal of S.A.No.96 of 2009, in view of the fact that the pendency of the said application stands in the way of the petitioner's enjoying the fruits of their purchase. 2. The learned counsel for the 2nd respondent submits that the 2nd respondent has filed applications for amendment and issue of a commission in which the petitioners have sought time to file counter affidavits, which have not been filed yet. He also points out that in respect of the same subject matter, another Securitisation Application namely, S.A. No.268/2008 is also pending. W.P.(C)No.2790/11 2 3. Having heard both sides, I dispose of this O.P(DRT) with the following directions: The Debt Recovery Tribunal shall finalise all interim applications pending in S.A.Nos.96/2009 and 268/2008, as expeditiously as possible, at any rate, within one month from the date of receipt of a copy of this judgment. Final orders shall be passed in S.A.Nos. 268/2008 and 96/2009, as expeditiously as possible, at any rate, within three months from the date of receipt of a copy of this judgment. S. SIRI JAGAN, JUDGE acd W.P.(C)No.2790/11 3 W.P.(C)No.2790/11 4