Kerala High Court
Raun Joseph vs Standard Chartered Plc on 22 May, 2019
Author: Devan Ramachandran
Bench: Devan Ramachandran
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE DEVAN RAMACHANDRAN
WEDNESDAY, THE 22ND DAY OF MAY 2019 / 1ST JYAISHTA, 1941
OP (DRT).No. 82 of 2019
AGAINST THE ORDER/JUDGMENT IN SA 401/2018 of DEBT RECOVERY
TRIBUNAL, ERNAKULAM
PETITIONER:
RAUN JOSEPH
AGED 29 YEARS
SON OF MR. GEORGE JOSEPH,RESIDING AT 5D BLOCK,
CHAKOLAS HABITAT, THEVARA (P.O), ERNAKULAM DISTRICT,
PIN-682 013
BY ADVS.
SRI.SHAJI CHIRAYATH
SMT.JIJI M. VARKEY
SMT.SAVITHA GANAPATHIYATAN
SRI.M.M.SHAJAHAN
RESPONDENTS:
1 STANDARD CHARTERED PLC
REGISTERED OFFICE AT 1 BASINGHALL AVENUE, LONDON,
EC2V 5DD, UNITED KINGDOM, STANDARD CHARTERED PLC
(COMPANY NUMBER 966425), IS INCORPORATED IN ENGLAND
WITH LIMITED LIABILITY BY ROYAL CHARTER 1853, UNDER
REFERENCE ZC 18, REPRESENTED BY ITS CHAIRMAN.
2 STANDARD CHARTERED BANK,
INDIA BRANCH IS SITUATED AT CRESCENZO, C-38/39 G
BLOCK, BEHIND MCA CLUB, BANDRA KURLA COMPLEX BANDRA
(EAST), MUMBAI-400 051, REPRESENTED BY ITS CHIEF
EXECUTIVE OFFICER.
3 BRANCH MANAGER,
STANDARD CHARTERED BANK, HDFC HOUSE, 01ST FLOOR,
RAVIPURA, ERNAKULAM, PIN-682 015.
4 AUTHORIZED OFFICER,
STANDARD CHARTERED BANK, 19-RAJA SALAI PARRYS,
CHENNAI, TAMILNAD, PIN-600 001
OP (DRT).No. 82 of 2019
2
5 AUTHORISED OFFICER,
STANDARD CHARTERED BANK, HDFC HOUSE, 01ST FLOOR,
RAVIPURA, ERNAKULAM, PIN-682 0154
SRI B S SURESH KUMAR-SC
THIS OP (DEBT RECOVERY TRIBUNAL) HAVING COME UP FOR ADMISSION ON
22.05.2019, THE COURT ON THE SAME DAY PASSED THE FOLLOWING:
OP (DRT).No. 82 of 2019
3
JUDGMENT
The singular allegation made by the petitioner in this case is that, eventhough, a Securisation Application, numbered as S.A. No. 401/2018, has already been filed by him before the Debts Recovery Tribunal, Ernakulam, (DRT for short), the Bank is attempting to take action under the SARFAESI Act in a hasty manner. The petitioner says that the DRT has now listed the Stay Application, filed along with the SA and asserts that the Bank must, therefore, await orders on the said Application before they take further action, including under Section 14 of the SARFAESI Act.
2. The learned standing counsel for the respondent Bank, Sri. V. Suresh Kumar, submits that the allegations of the petitioner is completely unfounded and that the Bank is acting only in terms of law. He, however, admits that the petitioner has moved SA. No. 401/2018 before the DRT and that the same is pending; but he says that unless the petitioner is able to obtain orders of stay from the said Tribunal, the Bank cannot wait indefinitely without any further action.
OP (DRT).No. 82 of 20194
3. When I consider the submissions made before me by the parties as afore, it is indubitable that unless the Tribunal considers the application for stay of the petitioner and interdicts further action, the Bank would certainly not be incapacitated from pursuing further action in terms of law. However, the fact remains that the application for stay is already pending and is stated to be listed to 26/06/2019. Therefore, the Bank takes any action, pending the said stay petition, then it is certainly up to the petitioner to approach the DRT and seek an expeditious disposal of the same by seeking an advancement of its posting from 26/06/2019. I am certain that if the petitioner does so, the DRT will consider such application as per law and as is warranted under the applicable Statutes and Regulations.
4. That said, I am cognizant that the prayer of the petitioner is that SA No. 401/2018 be directed to be disposed of by the DRT within a short time frame. I am afraid that I cannot accede to this request at all primarily because there is only one Bench of the DRT functioning in Kerala today and the said Tribunal is, consequently, now burdened with large number of cases. This Court will not be, OP (DRT).No. 82 of 2019 5 therefore, justified in directing the SA in question, which was filed only in September 2018, to be taken up and disposed of out of turn. In the afore circumstances, I deem it appropriate to order this writ petition granting liberty to the petitioner to approach the DRT seeking an expeditious hearing of the stay application filed along with SA No. 401/2018; in which event, the Tribunal will consider the same in terms of law and take a decision thereon after following due procedure.
5. Resultantly, I order this writ petition and grant liberty to the petitioner to move the DRT through an appropriate application to have the stay petition filed along with the SA no. 401/2018, advanced to a nearer date. If this application is made by the petitioner within a period of 4 days from the date of receipt of a copy of this judgment, the said application would be considered by the DRT and orders issued thereon without any further delay. Needless to say, if the DRT decides to advance the hearing of the stay application, the Bank will abide by any order to be issued by the said Tribunal before taking any further action. Until such time as the OP (DRT).No. 82 of 2019 6 afore exercise is completed, the Bank will maintain status quo with respect to the measures taken by them and then implicitly follow the further orders and directions to be issued by the DRT.
This writ petition is thus ordered.
Sd/-
DEVAN RAMACHANDRAN
Nsd JUDGE
//true copy//
PA to Judge
OP (DRT).No. 82 of 2019
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APPENDIX
PETITIONER'S/S EXHIBITS:
EXHIBIT P1 COPY OF THE WILL DEED EXECUTED BY THE
PETITIONER MOTHER LATE MRS. VIMALA.
EXHIBIT P2 COPY OF DEMAND NOTICE UNDER SECTION 31(2)
OF ACT BY THE 4TH RESPONDENT.
EXHIBIT P3 COPY OF OBJECTION/REPRESENTATION SUBMITTED
TO 4TH RESPONDENT BY PETITIONER UNDER
SECTION 13(3A) OF ACT.
EXHIBIT P4 COPY OF YET ANOTHER DEMAND NOTICE
PURPORTEDLY UNDER SECTION 31(2) OF ACT BY
THE 5TH RESPONDENT WITH VERY SAME RECITALS IN EXHIBIT P2 NOTICE.
EXHIBIT P5 COPY OF POSSESSION NOTICE BY THE 5TH RESPONDENT.
EXHIBIT P6 COPY OF THE SECURITISATION APPLICATION NO.
401 OF 2018 ON THE FILES OF DEBT RECOVERY TRIBUNAL (I) ERNAKULAM.
EXHIBIT P7 COPY OF THE INTERLOCUTORY APPLICATION OF 2014 IN EXHIBIT P6 SECURITISATION APPLICATION.
EXHIBIT P8 COPY OF NOTICE AFFIXTURE BY THE ADVOCATE COMMISSIONER FOR VACANT POSSESSION.