IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HON'BLE THE ACTING CHIEF JUSTICE MR.J.B.KOSHY & THE HONOURABLE MR. JUSTICE V.GIRI TUESDAY, THE 3RD FEBRUARY 2009 / 14TH MAGHA 1930 WA.No. 186 of 2009() -------------------- {IN WPC.32313/2008 OF THIS COURT} .................... APPELLANT(S)/PETITIONERS: ------------------------------------------------- 1. T.R.VALSALA, 52 YEARS, D/O. ROSILY, PANANKARA VEEDU, KANJAMPAZHANJI, POOVAR, THIRUVANANTHAPURAM. 2. S.S.DEEPA, 31 YEARS W/O. S.VIJAYA KUMAR, SIVABHAVAN, KACHANI SCHOOL JUNCTION, KARAKULAM.P.O., THIRUVANANTHAPURAM. BY ADV. SRI.A.F.SEBASTIAN RESPONDENT(S)/RESPONDENTS: ----------------------------------------------------- 1. STATE BANK OF INDIA REPRESENTED BY THE AUTHORISED OFFICER, /REGIONAL MANAGER STATE BANK OF INDIA, ZONAL OFFICE, THIRUVANANTHAPURAM 695 033. 2. THE BRANCH MANAGER, STATE BANK OF INDIA KOTTUKAL BRANCH, THIRUVANANTHAPURAM. WA.No. 186 of 2009 :: 2 :: 3. THE RESERVE BANK OF INDIA REPRESENTED BY ITS GOVERNOR, CENTRAL OFFICE, MUMBAI 400 001. 4. UNION OF INDIA REPRESENTED BY THE SECRETARY TO THE GOVERNMENT MINISTRY OF BANKING AFFAIRS, NEW DELHI. 5. K.SREEKANTH, WHITE HOUSE, THANNIVILA, VEDIVECHANCOIL P.O. PALLICHAL, THIRUVANANTHAPURAM. R4 BY ADV. SRI.P.PARAMESWARAN NAIR, ASST.SOLICITOR GENERAL THIS WRIT APPEAL HAVING COME UP FOR ADMISSION ON 03/02/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: J.B. KOSHY, Ag.C.J. & V.GIRI, J. ------------------------- W.A.No.186 of 2009 ------------------------- Dated this the 3rd day of February, 2009. JUDGMENT Koshy, Ag.C.J. The appellants/petitioners are guarantors to the loan taken by the 5th respondent. When action was initiated against the appellants under the SARFAESI Act and they were about to be physically dispossessed from the residential house, they approached this court. 2. Learned single Judge directed them to deposit an amount of Rs.15 lakhs within a period of two weeks from the date of that judgment and further ordered that if that amount is deposited, physical dispossession will stand deferred for a period of four months, so that the appellants/petitioners can approach the Debt Recovery Tribunal within the said period. 3. The appellants approached the Debt Recovery Tribunal within four months. It is also stated that as per Ext.P5, the total amount due, as on 1.9.2007, was only Rs.15,55,201/-. W.A.No.186 of 2009 :: 2 :: 4. After the judgment, the bank proceeded against the 5th respondent and seized certain movable articles belonging to him, worth Rs.17 lakhs. If the amount can be realised from the 5th respondent, the appellants will not be liable to pay any amount. 5. All these contentions can be raised before the Debt Recovery Tribunal. The bank also should consider whether the amount can be recovered from the 5th respondent himself including by way of sale of the movables seized from the 5th respondent. Now, the Debt Recovery Tribunal has started sitting in Kochi. 6. It is now stated that the appellants have filed a petition, as S.A.No.216/08, before the Debt Recovery Tribunal. It is for the Debt Recovery Tribunal to decide whether the proceedings against the appellants should be continued or not, if the amount, as directed by this court, has been deposited by them. Those are all matters that can be decided in the petition filed before the Debt Recovery W.A.No.186 of 2009 :: 3 :: Tribunal. Therefore, the appellants can approach the Debt Recovery Tribunal. The Debt Recovery Tribunal is directed to dispose of the application within three weeks from today. Till the Debt Recovery Tribunal decides the matter, the proceedings against the appellants herein shall stand suspended. The Debt Recovery Tribunal shall decide the matter untrammelled by the observations contained in the judgment of the learned single Judge. Writ appeal is disposed of as above. Sd/- (J.B. KOSHY) ACTING CHIEF JUSTICE Sd/- (V.GIRI) JUDGE sk/ //true copy// P.S. to Judge