Kerala High Court
Malabar Sand & Stones (Pvt.) Ltd vs The Catholic Syrian Bank Limited on 6 April, 2013
Author: V.Chitambaresh
Bench: V.Chitambaresh
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT:
THE HONOURABLE MR.JUSTICE V.CHITAMBARESH
TUESDAY, THE 12TH DAY OF NOVEMBER 2013/21ST KARTHIKA, 1935
WP(C).No. 27786 of 2013 (W)
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AGAINST THE ORDER/JUDGMENT IN SA 937/2012 of DEBT RECOVERY TRIBUNAL,
ERNAKULAM DATED 06-04-2013
AGAINST THE ORDER/JUDGMENT IN AIRSA 696/2013 of DEBT RECOVERY
APPELLATE TRIBUNAL, CHENNAI
PETITIONER(S):
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MALABAR SAND & STONES (PVT.) LTD.
REP. BY ITS MANAGING DIRECTOR
HARIS CHERATTIADAN
UP 10/372, PARAPPA, ALAKODE
KUTTAPARAMBA P.O.
KANNUR DISTRICT
PIN - 670 571.
BY ADVS.SRI.K.V.SOHAN
SMT.SREEJA SOHAN.K.
SRI.GEORGE JOSEPH PULIMOOTTIL
SRI.ROVIN RODRIGUES
SRI.VETTATH EAPPEN MATHAI
RESPONDENT(S):
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THE CATHOLIC SYRIAN BANK LIMITED
KANNUR BRANCH, REP. BY ITS AUTHORISED OFFICER
SRI.PAULY GEORGE, S/O GEORGE
DEPUTY ZONAL MANAGER, ZONAL OFFICE
ALPHONSA BUILDING, ARAYEDATHPALAM JUNCTION
INDIRA GANDHI ROAD, KOZHIKODE - 673 004.
R BY SRI.C.A.JOY, SC FOR CATHOLIC SYRIAN BANK LTD.
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
12-11-2013, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
APPENDIX IN W.P.(C) No.27786 OF 2013
PETITIONER(S) EXHIBITS
EXHIBIT P1 : TRUE COPY OF THE JUDGMENT PASSED BY THIS HON'BLE
COURT IN W.P.(C) NO.33452/2010 DATED 18.1.2011.
EXHIBIT P2 : TRUE COPY OF THE NOTICE ISSUED BY THE RESPONDENT
UNDER SECTION 13(2) OF THE SARFAESI ACT, 2002 DATED
16.3.2012.
EXHIBIT P3 : TRUE COPY OF THE JUDGMENT IN W.P.(C) NO.30130/2012
DATED 18.12.2012.
EXHIBIT P4 : TRUE COPY OF THE MA(SA) NOW NUMBERED AS APPEAL
INWARD REGISTER AIR (SA) NO.696 OF 2013 FILED BEFORE
THE DEBT RECOVERY APPELLATE TRIBUNAL, CHENNAI DATED
1.10.2013.
EXHIBIT P5 : TRUE COPY OF THE PETITION FILED I.A.NO.826/2013 DATED
1.10.2013 BEFORE THE DEBT RECOVERY APPELLATE
AUTHORITY.
EXHIBIT P6 : TRUE COPYT OF THE ORDER DATED 28.10.2013 IN EXT.P5
PETITION.
RESPONDENT(S) EXHIBITS
NIL.
//TRUE COPY//
P.S. TO JUDGE.
V.CHITAMBARESH, J.
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W.P (C) No.27786 of 2013
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Dated this the 12th day of November, 2013
J U D G M E N T
Ext.P6 conditional order passed by the Debts Recovery Appellate Tribunal in terms of Section 18(1) of the SARFAESI Act is impugned. A detailed consideration of the merits of the case at this juncture would prejudice the contentions of either parties in the statutory appeal pending. Suffice it to say that Ext.P6 order is not unreasonable or illegal in the circumstances as to warrant interference under Article 226 of the Constitution of India.
2. I however permit the petitioner to pay the sum of ` 1,57,03,593/- directed in Ext.P6 order to be made in 5 equal monthly instalments. The instalments shall start from 30.11.2013 and the failure to make the payment would enable the Bank to surge ahead with the coercive proceedings. Every endeavour shall also be made by the Debts Recovery Appellate Tribunal to dispose of Ext.P4 appeal itself on merits as expeditiously as possible in case the petitioner makes the payment as above.
The Writ Petition is disposed of.
V.CHITAMBARESH, Judge.
nj.