2025:KER:27881 IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. TUESDAY, THE 1ST DAY OF APRIL 2025 / 11TH CHAITHRA, 1947 OP (DRT) NO. 85 OF 2025 AGAINST THE ORDER DATED 06.02.2025 IN SA NO.326 OF 2018 OF DEBT RECOVERY TRIBUNAL, ERNAKULAM PETITIONER/S: PAULSON P.P., AGED 55 YEARS S/O. PAUL RAJ, G.B. KRIPA, MAYFLOWER APARTMENTS, NORTH JANATHA ROAD, PALARIVATTOM, ERNAKULAM, PIN - 682025 BY ADVS. DINESH R.SHENOY SHANTHIPRIYA D. SHENOY NANDANA S. SREENATH MOHAMED SHALI NAMSHAD RESPONDENT/S: 1 L.I.C. HOUSING FINANCE LTD., SHAHI TOWER, 1ST FLOOR, CHITTOOR ROAD, CHITTOOR ROAD, IYYATTIL JUNCTION, ERNAKULAM, REP. BY AREA MANAGER, PIN - 682011 2 AUTHORIZED OFFICER, LIC HOUSING FINANCE LTD., 9TH FLOOR, LIC BUILDING, MG ROAD, ERNAKULAM, PIN - 682011 2025:KER:27881 OP (DRT) No.85 of 2025 2 BY ADVS. ASP.KURUP SADCHITH.P.KURUP(K/1419/2002) C.P.ANIL RAJ(K/872/2007) SIVA SURESH(K/2688/2022) B.SREEDEVI(K/169/2024) ATHIRA VIJAYAN(K/199/2024) THIS OP (DEBT RECOVERY TRIBUNAL) HAVING COME UP FOR ADMISSION ON 01.04.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: 2025:KER:27881 OP (DRT) No.85 of 2025 3 JUDGMENT The petitioner has approached this Court challenging Ext.P14 order of the Debts Recovery Tribunal-I, Ernakulam on I.A.No.171 of 2025 in SA No.326 of 2018, whereby the Tribunal dismissed the stay petition filed by the petitioner against the steps taken for taking physical possession of the secured assets. 2. The learned counsel appearing for the respondent bank submits that the overdue amount in the loan account as on 01.04.2025 approximately is Rs.3,35,000/-. It is submitted that the respondent Bank has no objection in granting some installments to the petitioner to pay off the overdue amount. 3. The learned counsel appearing for the petitioner submits that the petitioner is disputing the amounts now claimed by the respondent Bank, as according to the petitioner, these amounts arise only on account of penal interest wrongly charged on the account. It is submitted that the petitioner is paying the regular EMIs and as also paid a sum of Rs.50,000/- towards the loan liability on 13.02.2025. 2025:KER:27881 OP (DRT) No.85 of 2025 4 Having heard the learned counsel appearing for the petitioner and the learned counsel appearing for the respondent Bank, I am of the opinion that considering the issues between the parties, the steps for taking physical possession can be deferred till the disposal of S.A.No.326 of 2018, subject to the condition that the petitioner remits a sum of Rs.10,00,000/- towards the loan liability in two monthly installments payable on 30.04.2025 and 30.05.2025. If the petitioner complies with the aforesaid directions, the steps for taking physical possession of the secured assets shall stand deferred till the disposal of S.A.No.326 of 2018. Since S.A.No.326 of 2018 is pending before the Tribunal for about 7 years, there will be a further direction to the Debts Recovery Tribunal-I, Ernakulam to hear and dispose of S.A.No.326 of 2018 without undue delay and at any rate, within a period of six months from the date of receipt of a copy of this judgment. Sd/- GOPINATH P. JUDGE Scl/ 2025:KER:27881 OP (DRT) No.85 of 2025 5 APPENDIX OF OP (DRT) 85/2025 PETITIONER EXHIBITS Exhibit P1 TRUE PHOTOCOPY OF SA NO 326/2018 DRT, ERNAKULAM DATED 2/8/2018 WITH ANNEXURES. Exhibit P2 TRUE PHOTOCOPY OF THE WRITTEN STATEMENT FILED BY THE RESPONDENTS DATED 16/10/2018 IN SA NO 326/2018 Exhibit P3 TRUE PHOTOCOPY OF REPLICATION FILED BY THE PETITIONER DATED 26/6/2024 IN SA NO 326/2018 DEBTS RECOVERY TRIBUNAL I, ERNAKULAM Exhibit P4 TRUE PHOTOCOPY OF NOTICE DATED 27/7/2024 ISSUED BY ADVOCATE COMMISSIONER ANANTHU ARAVIND IN MC NO. 402/2024, ACJM (MP/MLA), ERNAKULAM Exhibit P5 TRUE PHOTOCOPY OF MEMO DATED 14.8.2024 FILED BY RESPONDENTS HEREIN IN MC NO. 402/2024, ACJM (MP/MLA), ERNAKULAM, TOGETHER WITH A STATEMENT OF ACCOUNT. Exhibit P6 TRUE PHOTOCOPY OF THE REPORT DATED 7/1/2025 FILED BY ADVOCATE COMMISSIONER ANANTHU ARAVIND IN MC NO 402/2024, ACJM (MP/MLA) ERNAKULAM. Exhibit P7 TRUE PHOTOCOPY OF IA NO 227/2025 (AMENDMENT PETITION) IN SA NO 326/2018, DRT 1, ERNAKULAM. Exhibit P8 TRUE PHOTOCOPY OF COUNTER AFFIDAVIT FILED BY RESPONDENTS DATED 30/1/2025 IN IA NO 227/2025 IN SA NO 326/2018, DRT 1, ERNAKULAM Exhibit P9 TRUE PHOTOCOPY OF THE STAY PETITION, IA 2025:KER:27881 OP (DRT) No.85 of 2025 6 NO 171/2025 IN SA NO 326/2018, DRT 1, ERNAKULAM Exhibit P10 TRUE PHOTOCOPY OF COUNTER AFFIDAVIT DATED 30/1/2025 FILED IN IA NO 171/2025 IN SA NO 326/2018 DRT 1 ERNAKULAM Exhibit P11 TRUE PHOTOCOPY OF PROCEEDINGS DATED 21/1/2025 IN SA NO 326/2018, DRT 1, ERNAKULAM Exhibit P12 TRUE PHOTOCOPY OF STATEMENT OF ACCOUNT OF THE PETITIONER’S LOAN ACCOUNT FOR THE PERIOD FROM 3/2/2025 TO 14/2/2025. Exhibit P13 TRUE PHOTOCOPY OF JUDGMENT DATED 21/2/2025 IN OP(DRT)NO.50/2025, HIGH COURT OF KERALA. Exhibit P14 TRUE PHOTOCOPY OF THE ORDER DATED 6/2/2025 IN IA NO.171/2025 IN SA NO.326/2018, DRT I, ERNAKULAM 2025:KER:27881 OP (DRT) No.85 of 2025 7