Kerala High Court
M/S Vasu Coco Resorts Pvt.Ltd vs The Authorised Officer on 16 October, 2023
Author: K. Babu
Bench: K. Babu
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR.JUSTICE K. BABU
MONDAY, THE 16TH DAY OF OCTOBER 2023 / 24TH ASWINA, 1945
OP (DRT) NO. 425 OF 2023
AGAINST AIR 956/2023 OF DEBT RECOVERY APPELLATE TRIBUNAL,
CHENNAI AND
SA 530/2022 OF DEBT RECOVERY TRIBUNAL- 2, ERNAKULAM
PETITIONERS/APPELLANTS/APPLICANTS:
1 M/S VASU COCO RESORTS PVT.LTD
REPRESENTED BY IT'S DIRECTOR MR. PRASHANTHVASUDEVAN
VP II/326BM ,VAYALAR CHERTALA, ALAPPUZHA, KERALA-,
PIN - 688536
2 MR .PRASHANTH VASUDEVAN
S/O DR.P. VASUDEVAN HOUSE NO.223, GAUTHAM BUDDHA
NAGAR NEAR 15A CLUB, SECTOR 15A, NOIDA, UTTAR
PRADESH, PIN - 201303
BY ADVS.
PRAVEEN K. JOY
T.A.JOY
M.P.UNNIKRISHNAN
ANUPAMA NAIR
ARDRA ANIL
DEEPU RAJAGOPAL
ALBIN VARGHESE
ABISHA.E.R
N.ABHILASH
FATHIMA SHALU S.
E.S.SANEEJ
RESPONDENTS/RESPONDENTS/DEFENDANTS:
1 THE AUTHORISED OFFICER
STATE BANK OF INDIA STRESSED ASSETS MANAGEMENT
BRANCH, 1127, RAJA PLAZA AVINASHI ROAD COIMBATORE,
PIN - 671037
2 DEPUTY GENERAL MANAGER
STATE BANK OF INDIA STRESSED ASSETS MANAGEMENT
BRANCH, 7TH FLOOR, VANAKARATH TOWERS, PALARIVATTOM,
PIN - 682024
O.P.(DRT) No.425 of 2023
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3 M/S EVERSPACE REALTY LLP
NO.22, RAJARAMMETHA NAGAR AMINJIKARAI, CHENNAI TAMIL
NADU, PIN - 600029
SRI.S.EASWARAN
SRI.TOM K THOMAS
THIS OP (DEBT RECOVERY TRIBUNAL) HAVING COME UP FOR
ADMISSION ON 16.10.2023, THE COURT ON THE SAME DAY DELIVERED
THE FOLLOWING:
O.P.(DRT) No.425 of 2023
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K.BABU, J.
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O.P.(DRT) No.425 of 2023
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Dated this the 16th day of October, 2023
JUDGMENT
The prayers in this Original Petition filed under Article 226 of the Constitution of India are as follows:-
"(i) To issue direction to the 1 and 2nd respondent bank to keep in abeyance the further recovery proceedings in MC 716/2022 of the Chief Judicial Magistrate Court, Alappuzha till the Appeal with number AIR (SA) 956/2023 is considered by the Debt Recovery Appellate Tribunal, Chennai in the interest of justice.
(ii) To stay all further proceedings in MC 716/2022 of the Chief Judicial Magistrate Court, Alappuzha till the Appeal with number AIR (SA) 956/2023 is finally disposed off.
(iii) Dispense with the filing of translation of vernacular documents. (iv) To Grant such other reliefs which this Honorable court may deem fit and proper, in the interest of justice."
2. Heard both sides.
3. The learned counsel for the petitioners confined the relief to direct the DRAT, Chennai to consider and dispose of Ext.P15, as expeditiously as possible. It is submitted that the case stands posted to 18.10.2023.
O.P.(DRT) No.425 of 2023..4..
4. Having regard to the submissions, the DRAT, Chennai, is directed to consider and dispose of Ext.P5 as expeditiously as possible, at any rate, not later than three weeks from this day.
5. Coercive steps initiated against the petitioners shall be kept in abeyance for a period of three weeks from this day.
The Original Petition is disposed of accordingly.
K.BABU JUDGE kkj O.P.(DRT) No.425 of 2023 ..5..
APPENDIX OF OP (DRT) 425/2023 PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE AMENDED SA NO.530/2022 WITHOUT ANNEXURES OF DEBTS RECOVERY TRIBUNAL-II, ERNAKULAM Exhibit P2 TRUE COPY OF THE WRITTEN STATEMENT OF 1STDEFENDANT IN SA NO.530/2022 OF DEBTS RECOVERY TRIBUNAL-II, ERNAKULAM WITHOUT ANNEXURE Exhibit P3 TRUE COPY OF THE WRITTEN STATEMENT OF THE 3RD DEFENDANT IN SA NO.530/2022 OF DEBTS RECOVERY TRIBUNAL-II, ERNAKULAM WITHOUT ANNEXURE Exhibit P4 TRUE COPY OF THE NOTICE IN MC 716/2022 DATED 28/11/2022 Exhibit P5 TRUE COPY OF THE PROCEEDINGS IN SA NO.530/2022 OF DEBTS RECOVERY TRIBUNAL-II, ERNAKULAM DATED 30/11/2022 Exhibit P6 TRUE COPY OF THE PROCEEDINGS IN SA NO.530/2022 OF DEBTS RECOVERY TRIBUNAL-II, ERNAKULAM DATED 13/12/2022 Exhibit P7 TRUE COPY OF THE PROCEEDINGS IN SA NO.530/2022 OF DEBTS RECOVERY TRIBUNAL-II, ERNAKULAM DATED 12/01/2023 Exhibit P8 TRUE COPY OF THE PROCEEDINGS IN SA NO.530/2022 OF DEBTS RECOVERY TRIBUNAL-II, ERNAKULAM DATED 24/01/2023 Exhibit P9 TRUE COPY OF THE PROCEEDINGS IN SA NO.530/2022 OF DEBTS RECOVERY TRIBUNAL-II, ERNAKULAM DATED 21/02/2023 Exhibit P10 TRUE COPY OF THE PROCEEDINGS IN SA NO.530/2022 OF DEBTS RECOVERY TRIBUNAL-II, ERNAKULAM DATED 19/04/2023 Exhibit P11 TRUE COPY OF THE JUDGMENT IN OP(DRT) 266/2023 OF THIS HON'BLE COURT DATED 11/07/2023 Exhibit P12 TRUE COPY OF FINAL ORDER DATED 07/07/2023 IN SA NO.530/2022 OF DEBTS RECOVERY TRIBUNAL-II, ERNAKULAM Exhibit P13 TRUE COPY OF THE APPEAL WITH DIARY NO.956/2023 PREFERRED BEFORE DEBT RECOVERY APPELLATE TRIBUNAL, CHENNAI DATED O.P.(DRT) No.425 of 2023 ..6..
15/07/2023 Exhibit P14 TRUE COPY OF THE WAIVER PETITION WITH DIARY NO.995/2023 BEFORE DEBT RECOVERY APPELLATE TRIBUNAL, CHENNAI DATED 15/07/2023 Exhibit P15 TRUE COPY OF THE STAY PETITION WITH DIARY NO.996/2023 BEFORE DEBT RECOVERY APPELLATE TRIBUNAL, CHENNAI DATED 15/07/2023 Exhibit P16 TRUE COPY OF THE JUDGMENT IN OP(DRT) 291/2023 DATED 08.08.2023 Exhibit P17 TRUE COPY OF THE PROCEEDINGS OF THE DEBT RECOVERY APPELLATE TRIBUNAL, CHENNAI DATED 03.10.2023 IN IA NO. 346/2023 IN AIR (SA) 956/2023 Exhibit P18 TRUE PHOTOCOPY OF THE DEMAND DRAFT DATED 06.10.2023 WITH NO. 639015 OF IDFC FIRST BANK, NOIDA Exhibit P19 TRUE COPY OF THE E-COURTS DAILY STATUS IN MC 716/2022 OF THE CHIEF JUDICIAL MAGISTRATE COURT, ALAPPUZHA DATED 12.10.2023