IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.K.ABDUL REHIM THURSDAY, THE 27TH JANUARY 2011 / 7TH MAGHA 1932 OP (DRT).No. 1156 of 2010(O) ------------------------------------------ SA.169/2009 of DEBT RECOVERY TRIBUNAL, ERNAKULAM .................... PETITIONER (S): ----------------------- ING VYSYA BANK LIMITED,A BANKING COMPANY GOVERNED BY THE COMPANIES ACT.1956, WITH HEAD OFFICE AT 22, ING VYSYA HOUSE,M.G.ROAD,BANGALORE, KARNATAKA STATE 560001 AND ONE OF ITS BRANCHES AT PANAMPALLY NAGAR, ERNAKULAM, REPRESENTED HEREIN BY THE ZONAL RECOVERY MANAGER, SRI.M.KUMARADAS. BY ADV. SRI.K.K.JOHN RESPONDENT(S): --------------------------- 1. ANNAMMA SUNNY, NO.30/1918, MAMBA ROAD CHALIKKAVATTOM PO, VYTTILA,ERNAKULAM KOCHI 682 019 2. SUNNY S NO.30/1918, MAMBA ROAD CHALIKKAVATTOM PO, VYTTILA,ERNAKULAM KOCHI 682 019 . BY ADV. SRI.THANKOM MUKUNDAKRISHNAN THIS OP (DEBT RECOVERY TRIBUNAL) HAVING COME UP FOR ADMISSION ON 27/01/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: tss C.K.ABDUL REHIM, J. = = = = = = = = = = = = = = OP(DRT).No.1156 of 2010-O. = = = = = = = = = = = = = = Dated this the 27th January, 2011. J U D G M E N T Petitioner Bank is seeking a direction to the Debt Recovery Tribunal, Ernakulam to pass final orders on Securitisation Application No.169/2009 within a time limited to be specified. It is noticed that when steps under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) was initiated against the respondents, they have approached the Debt Recovery Tribunal, Ernakulam by filing SA.No.169/2009 under Section 17(1) of the Act. It is stated that the Securitisation Application was filed as early as on 27.3.2009 and that the petitioner herein who is the defendant before that Tribunal had filed Ext.P2 written statement in the said application, on 5.5.2009. It is further stated that the Securitisation Application was posted before the Tribunal on different dates and is finally heard on OP(DRT).No.1156 of 2010-O. 2 18.8.2010 and the Tribunal had reserved it for pronouncing judgment. The petitioner is specifically mentioned that under Sec.17(5) of the Act the Tribunal is at an obligation to dispose of the matter within four months as stipulated under the Statute. According to the petitioner, the delay in disposal of the matter is causing prejudice to the interest of the petitioner. 2. Notice sent from this Court to the respondents was returned with postal endorsement as 'left'. Subsequently this Court directed the petitioner to serve a copy of this writ petition on the counsel appearing for the respondents before the Debt Recovery Tribunal, Ernakulam and to file memo to that effect. Even though the memo was filed in compliance and the name of the counsel was shown in the cause list, nobody was appeared on behalf of respondents. Under such circumstance I am inclined to dispose of the matter. 3. Considering the facts as stated above, I am of the OP(DRT).No.1156 of 2010-O. 3 view that the writ petition can be disposed of directing an early disposal of the matter which is pending before the Debt Recovery Tribunal, Ernakulam. The Tribunal will take all earnest efforts to dispose of SA.No.169/2009, if not already disposed, as early as possible, at any rate within two months from the date of receipt of a copy of this Judgment. The Writ Petition is disposed of as above. C.K.ABDUL REHIM, (Judge) Kvs/-