IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.K.ABDUL REHIM WEDNESDAY, THE 9TH MARCH 2011 / 18TH PHALGUNA 1932 OP (DRT).No. 332 of 2011(O) ----------------------------------- SA.144/2009 of DEBTS RECOVERY TRIBUNAL, ERNAKULAM .................... PETITIONER --------------- PUNJAB NATIONAL BANK, REPRESENTED BY ITS CHIEF MANAGER, ASSET RECOVERY MANAGEMENT BRANCH, CIRCLE OFFICE, MARKET ROAD, ERNAKULAM. BY ADVS. SRI.P.K.SURESH KUMAR SRI.V.C.MADHAVANKUTTY RESPONDENT(S): --------------------- 1. T.A.SULEKHA, W/O.V.H.M. RAFEEQUE, CC NO.XXIII/576, MADHURA COMPANY ROAD, KOCHI-682 006. 2. V.M.ROSHINI, W/O.MUSHIR, DO. DO. 3. V.M.RINEESH, S/O.V.H.M. RAFEEQUE, DO. DO. R1 TO 3 BY ADV. SRI.M.A.ASIF THIS OP (DEBT RECOVERY TRIBUNAL) HAVING COME UP FOR ADMISSION ON 09/03/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: svs C.K.ABDUL REHIM, J. ------------------------------------------- O.P.(DRT).No.332 of 2011 ------------------------------------------- Dated this the 9th day of March, 2011 J U D G M E N T ---------------------- The petitioner Bank is approaching this court seeking direction for an early disposal of S.A.No.144/2009 pending before the Debts Recovery Tribunal, Ernakulam. It is stated that the petitioner Bank had proceeded against the respondents along with late Sri.V.H.M. Rafeeque, under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) for recovery of amounts due under a loan available by them. When steps under Section 13(4) of the Act was initiated, the respondents 1 to 3 along with deceased Sri.V.H.M. Rafeeque had filed S.A.No.144/09 before the Debts Recovery Tribunal. It is stated that by virtue of Ext.P3 the Tribunal had granted an interim stay restraining the petitioner herein from proceedings O.P(DRT).332/11 -2- with sale of the immovable property, which is the secured asset, subject to condition of the applicants in the S.A. remitting a sum of Rs.25 lakhs in two phases. According to the petitioner, on failure to comply with the condition stipulated the Tribunal had vacated the order on 3.8.2009. But the interim order was again revived on the applicants depositing the amount stipulated. It is the grievance of the petitioner Bank that since August 2008 the matter was being pursued before the Debts Recovery Tribunal. But, due to the interim stay granted and due to non disposal of the securitisation application, the Bank is prevented from taking effective steps to realise the amount due. 2. Learned counsel appearing for the petitioner points out the specific provisions contained in Section 17(5) of the SARFAESI Act under which it is obligatory on the part of the Tribunal to dispose of the matter within a period of four months from the date of making such application. 3. Counsel who entered appearance on behalf of respondents 1 to 3 raised contentions to the effect that, O.P(DRT).332/11 -3- consequent to death of the first applicant before the DRT, steps need be taken for impleading the legal heirs. Hence there will be some procedural delay in finalising the matter. He also contended that he is not appearing on behalf of the 2nd respondent. Maintainability of this writ petition was also challenged on the ground that legal heirs of the deceased Sri.V.H.M. Rafeeque was not impleaded herein. 4. Per contra, learned counsel for petitioner points out that the 1st respondent herein is the wife and the 3rd respondent herein is the son of the deceased person. It is also contended that respondents 1 to 3 herein are already parties before the Tribunal, apart from the deceased person who had instituted the securitisation application. According to the learned counsel it is not necessary to implead the legal heirs, if any left out in this writ petition. However, it is for the Tribunal to direct appropriate steps for impleading the legal heirs if any left out. Considering the relief which I am proposing to grant in this writ petition, I am of the view that there is adequate representation of the O.P(DRT).332/11 -4- legal heirs of the deceased person in this writ petition. 5. Considering the facts and circumstances as stated above I am of the view that interest of justice will be served if a direction is issued to the DRT to have an early disposal of the matter. Therefore the writ petition is disposed of directing the Debts Recovery Tribunal, Ernakulam to take earnest efforts for consideration and disposal of S.A.No.144/09 pending before that Tribunal, as early as possible. However, the matter shall be disposed of finally within a period of two months from the date of receipt of a copy of this judgment. C.K.ABDUL REHIM, JUDGE. okb