IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.K.ABDUL REHIM WEDNESDAY, THE 22ND JUNE 2011 / 1ST ASHADHA 1933 OP (DRT).No. 1273 of 2011(O) ---------------------------- SA.192/2008 of DEBT RECOVERY TRIBUNAL, ERNAKULAM .................... PETITIONER/1ST APPLICANT: ------------------------------------------ P.R.RAJESH, AGED 36 YEARS, S/O.RAJAPPAN, PUTHENPARAMBIL HOUSE, PULINKUNNU, ALAPPUZHA, NOW RESIDING AT BHUVANESWARI GARDENS, KIDANGANPARAMBU, ALAPPUZHA-688 013. BY ADV. SRI.N.K.MOHANLAL RESPONDENT(S): --------------- 1. CHIEF MANAGER, STATE BANK OF INDIA, REGIONAL BUSINESS OFFICE, BEACH ROAD, ALAPPUZHA-688 013. 2. P.J.JOSEPH, PUTHENPURACKAL (ANUPAMA), THIRUMALA ROAD, ALAPPUZHA-688 013. ADV. SRI.K.K.CHANDRAN PILLAI, SENIOR ADVOCATE FOR R1 SRI.A.S.SAJUSH PAUL FOR R1 THIS OP (DEBT RECOVERY TRIBUNAL) HAVING COME UP FOR ADMISSION ON 22/06/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: OP (DRT).No. 1273 of 2011(O) : 2 : APPENDIX EXT.P1 : COPY OF I.A.NO.1355/2009 PETITION TO SET ASIDE THE SALE EXT.P2 : COPY OF I.A.NO.3078/2010 //TRUE COPY// P.A TO JUDGE C.K.ABDUL REHIM, J --------------------------------------- O.P(DRT) No.1273 of 2011-O ---------------------------------------- Dated this the 22nd day of June, 2011. J U D G M E N T Exts.P1 and P2 are interlocutory applications filed by the petitioner along with his wife, before the Debt Recovery Tribunal, Ernakulam, in S.A.No.192/2008 pending disposal on the files of that tribunal. The petitioner seeks for a direction for an early disposal of those applications, alleging that the matter is being protracted by the respondents without filing objection/counter affidavit. 2. Heard; learned counsel appearing for the 1st respondent Bank. Inspite of service of notice from this court, the 2nd respondent has not entered appearance and contested the matter. 3. I take note of the fact that the securitisation application was filed in the year 2008. Going by Section 17 (5) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) there is a time limit prescribed for disposal O.P(DRT) No.1273 of 2011-O 2 of applications filed under Section 17(1). The said provision insist disposal of the applications within a period of four months. Considering the above said provisions it is desirable on the part of the Debt Recovery Tribunal to take all earnest efforts for disposal of the matter at the earliest possible. It is also necessary to pass appropriate orders on the interim applications without any further delay. 4. Therefore, the writ petition is disposed of directing the Debt Recovery Tribunal, Ernakulam, to consider and dispose of Exts.P1 and P2 applications (I.A.Nos.1355/2009 and 3078/2010 in S.A.No.192/2008) and the securitisation application itself, at the earliest possible, after affording reasonable opportunity to all parties concerned. Earnest efforts will be taken to dispose of the matter at the earliest possible, at any rate within a period of two months from the date of receipt of a copy of this judgment. C.K.ABDUL REHIM JUDGE ab