Kerala High Court
Abdul Gafoor.E.S vs The Federal Bank Ltd on 20 July, 2016
Author: A.M. Shaffique
Bench: A.M.Shaffique
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT:
THE HONOURABLE MR.JUSTICE A.M.SHAFFIQUE
THURSDAY, THE 17TH DAY OF NOVEMBER 2016/26TH KARTHIKA, 1938
OP (DRT).No. 100 of 2016 (O)
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SA 63/2016 OF DEBT RECOVERY TRIBUNAL-II, ERNAKULAM.
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PETITIONER(S)/APPLICANTS:
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1. ABDUL GAFOOR.E.S., AGED 48,
S/O. E.K. SAIDU MOHAMED,
EDAVANAKATT HOUSE, EDAVILANGU P.O.,
KARA, KODUNGALLUR, THRISSUR DISTRICT.
2. P.C.THAHIRA, AGED 43,
W/O.ABDUL GAFOOR E.S.
EDAVANAKATT HOUSE, EDAVILANGU P.O.,
KARA, KODUNGALLUR, THRISSUR DISTRICT.
BY ADV. SRI.P.V.GEORGE(PUTHIYIDAM)
RESPONDENT(S)/DEFENDANTS.:
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1. THE FEDERAL BANK LTD.,
REPRESENTED BY BRANCH MANAGER,
KODUNGALLUR BRANCH, NORTH NADA,
KODUNGALLUR-680 664.
2. THE AUTHORIZED OFFICER AND CHIEF MANAGER,
THE FEDERAL BANK LTD.,
NORTH NADA, KODUNGALLUR- 680 664.
BY ADVS. SRI.GEORGE VARGHESE (MANACHIRACKEL)
SRI.P.R.MILTON
SMT.SALI. P. MATHEW (MUNNAR)
THIS OP (DEBT RECOVERY TRIBUNAL) HAVING COME UP FOR
ADMISSION ON 17-11-2016, THE COURT ON THE SAME DAY
DELIVERED THE FOLLOWING:
mbr/
OP (DRT).No. 100 of 2016 (O)
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APPENDIX
PETITIONER(S)' EXHIBITS:
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EXT. P1 : TRUE COPY OF THE ORDER DATED 20.7.2016 PASSED BY
THE CHIEF JUDICIAL MAGISTRATE COURT, THRISSUR IN
CRL.MP NO. 4111/2016.
EXT. P2 : TRUE COPY OF THE S.A. NO.63/2016 DATED 18.8.2016
BEFORE THE HON'BLE DEBT RECOVERY TRIBUNAL NO.II,
ERNAKULAM.
EXT. P3 : TRUE COPY OF THE ORDER DATED 20.8.2016 PASSED IN
S.A NO. 63/2016 OF THE DEBT RECOVERY TRIBUNAL
NO.II, ERNAKULAM.
EXT. P4 : TRUE COPY OF THE PAY-IN-SLIP DATED 4.11.2016
ISSUED BY RESPONDENT BANK FOR A SUM OF
RS.1,00,000/-
EXT. P5 : TRUE COPY OF THE PAY-IN-SLIP DATED 5.11.2016
ISSUED BY RESPONDENT BANK FOR A SUM OF
RS.50,000/-
RESPONDENT(S)' EXHIBITS: NIL
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//TRUE COPY//
P.S. TO JUDGE
mbr/
A.M. SHAFFIQUE, J.
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O.P.(DRT).No.100 of 2016
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Dated this the 17th day of November, 2016
J U D G M E N T
The petitioners challenge Ext.P3 order passed by the Debts Recovery Tribunal calling upon the petitioners to remit an amount of 25 lakhs on or before 30.08.2016. It is indicated that on payment of the said amount, further proceedings initiated by the Bank shall be kept in abeyance. In a Securitization Application, the petitioners challenged the order passed by the Chief Judicial Magistrate appointing an Advocate Commissioner to take possession of the secured asset.
2. The main contention urged by the petitioners is that proceedings had been initiated beyond the period of limitation. I don't want to go into the merits of the contentions urged by the parties. When the original petition was admitted, stay was granted on condition of the petitioners remitting 5 lakhs within a period of two weeks from 21.10.2016. The petitioners remitted only 1.5 lakhs.
3. Learned counsel for the petitioners submits that on account of the present financial scenario arisen out of demonetization, the petitioners are unable to make necessary funds for payment and hence seeks three weeks time to pay the balance amount as ordered on 21.10.2016.
4. Having gone through Ext.P3 order passed by the Debts O.P.(DRT).No.100 of 2016 2 Recovery Tribunal, I don't think that this Court should interfere with the said order. The only aspect involved is regarding the time limit for compliance of the said order. Taking into account the fact that the petitioners had ventilated certain financial crisis on account of the present scenario, I am of the view that some time can be granted to the make good the payment as directed by the Debts Recovery Tribunal.
Accordingly, this original petition is disposed of as under :
1. That the petitioners shall pay the balance amount of 3.5 lakhs as directed in interim order dated 21.10.2016 on or before 01.12.2016.
2. The balance amount of 20 lakhs as directed in Ext.P3 shall be deposited on or before 09.01.2017.
3. If payments are made as stated above, the Advocate Commissioner shall defer taking possession of the secured asset, failing which, it shall be open for the Advocate Commissioner to take possession of the secured asset and the Debts Recovery Tribunal is free to pass appropriate orders in the Securitization Application.
Sd/-
A.M. SHAFFIQUE, JUDGE AV