IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.K.ABDUL REHIM WEDNESDAY, THE 29TH JUNE 2011 / 8TH ASHADHA 1933 OP (DRT).No. 1904 of 2011(O) ------------------------------------ SA.18/2009 of DEBT RECOVERY TRIBUNAL, ERNAKULAM .................... PETITIONER --------------- SABU S., CLIFTAL DALE APARTMENT, NANTHANCODE, KOWDIAR, THIRUVANANTHAPURAM. BY ADV. SRI.M.R.SASITH PANICKER RESPONDENT(S): -------------------- 1. HDFC BANK LTD., GULF STAR BUILDING, CHETTIKULANGARA, THIRUVANANTHAPURAM - 695 002, REPRESENTED BY ITS AUTHORIZED OFFICER. 2. BRANCH MANAGER, HDFC BANK LTD., KENTON TOWER, NEAR KALABHAVAN THEATRE, VAZHUTHACAUD, THIRUVANANTHAPURAM - 695010. 3. TAIJU FRANCIS, THACHIL NO.2, HEAVENS, JAWAN CROSS ROAD, PONEKKARA, KOCHI - 682 032. 4. THE HON'BLE DEBT RECOVERY TRIBUNAL, ERNAKULAM - 682 026, REPRESENTED BY ITS REGISTRAR. R1,2 BY ADV. SRI.T.RAJESH, SC, HDFC BANK LTD. THIS OP (DEBT RECOVERY TRIBUNAL) HAVING COME UP FOR ADMISSION ON 29/06/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: svs O.P.(DRT). NO. 1904/2011 APPENDIX PETITIONER'S EXHIBITS: P1: COPY OF PROCEEDING OF THE DEBT RECOVERY TRIBUNAL. P2: COPY OF THE VISA OF THE PETITIONER. RESPONDENT'S EXHIBITS: NIL /TRUE COPY/ P.A. TO JUDGE. svs C.K.ABDUL REHIM, J --------------------------------------- O.P(DRT) No.1904 of 2011-O ---------------------------------------- Dated this the 29th day of June, 2011. J U D G M E N T The petitioner is the appellant before the 4th respondent tribunal in S.A.No.18/2009 in which respondents 1 and 2 herein are the defendants. The petitioner is seeking a direction from this Court for an early disposal of the above said case by the 4th respondent tribunal. The averments in the writ petition is to the effect that the securitisation application in question was filed as early as in the year 2009 and it was finally heard on 22.9.2010. It is stated that the tribunal had reserved the case for pronouncing orders. But even after the lapse of more than 11 months no order is issued disposing the application, is the contention. 2. Heard; learned standing counsel appearing on behalf of respondents 1 and 2. It is contended that, after final hearing of the matter on 22.9.2010, the petitioner herein had filed interim applications seeking re-hearing of the matter and it was again posted during March 2011. However, it is conceded that after re-hearing, the matter now stands posted before the O.P(DRT) No.1904 of 2011-O 2 tribunal for pronouncing orders on the securitisation application. 3. Considering the provisions contained under Section 17(5) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) it is obligatory on the part of the 4th respondent tribunal to dispose of the applications filed under Section 17(1), within a time limit of four months from the date of filing of such applications. Considering the statutory limitations prescribed, I am of the view that interest of justice will be served if a direction is issued for an early disposal of the matter by the 4th respondent tribunal. 4. Hence, the writ petition is disposed of directing the 4th respondent tribunal to take all earnest efforts for an early disposal of S.A.No.18/2009 pending on the files of that tribunal, at the earliest possible, at any rate, within a period of one month from the date of receipt of a copy of judgment. C.K.ABDUL REHIM JUDGE ab