2025:KER:25711 IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR.JUSTICE N.NAGARESH WEDNESDAY, THE 26TH DAY OF MARCH 2025 / 5TH CHAITHRA, 1947 OP (DRT) NO. 111 OF 2025 SA NO. OF 2025 OF DEBT RECOVERY TRIBUNAL- 2, ERNAKULAM PETITIONER/APPLICANT: SREEKALA K S, AGED 50 YEARS W/O HARIKRISHNAN.T.N, MADAT KADAMPINAL HOUSE, KARAKKAD .P.O, CHENGANNUR, ALAPUZHA DT, PIN - 689504 BY ADV FRANKLIN ARACKAL RESPONDENTS/RESPONDENT: 1 STATE BANK OF INDIA, LMS COMPOUND, OPP.MUSEUM WEST GATE VIKAS BHAVAN P O, THIRUVANATHAPURAM, REPRESENTED BY ITS AUTHORISED OFFICER, PIN - 695033 2 THE AUTHORIZED OFFICER, STATE BANK OF INDIA,LMS COMPOUND, OPP.MUSEUM WEST GATE VIKAS BHAVAN P O, THIRUVANATHAPURAM, PIN - 695033 2025:KER:25711 OP(DRT) No.111 of 2025 2 3 THE BRANCH MANAGER, STATE BANK OF INDIA, KULANADA BRANCH, PATHANAMTHITTA DT, PIN - 689503 BY ADV. SRI. JITHESH MENON, STANDING COUNSEL THIS OP (DEBT RECOVERY TRIBUNAL) HAVING COME UP FOR ADMISSION ON 26.03.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: 2025:KER:25711 OP(DRT) No.111 of 2025 3 JUDGMENT Dated this the 26th day of March, 2025 The petitioner states that she has filed Ext.P4 Securitisation Application and Ext.P5 Stay Petition before the Debts Recovery Tribunal-II, Ernakulam. The said Securitisation Application was filed challenging Ext.P3 proceedings initiated by the Bank against the petitioner’s property / secured asset under Section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. If the physical possession of the residential property of the petitioner is taken by the respondents before consideration of Exts.P4 and P5, the petitioner will be put to irreparable loss and injury. Therefore, the petitioner seeks to direct the Debts Recovery Tribunal to dispose of Ext.P4 Securitisation Application and Ext.P5 Stay Petition within a time frame as fixed by this Court. 2025:KER:25711 OP(DRT) No.111 of 2025 4 2. Standing Counsel entered appearance on behalf of the Bank and resisted the writ petition. The Standing Counsel pointed out that the petitioner’s husband, who was the principal borrower, had filed W.P.(C) No.43625/2024 earlier before this Court and this Court disposed of the writ petition, directing the petitioner’s husband to remit the outstanding amount of ₹44,29,525/- in eight consecutive and equal monthly instalments. It was made clear that if the petitioner commits single default in making payments as directed above, the Bank will be at liberty to continue with coercive proceedings. 3. The petitioner did not stick to the time schedule for repayment as prescribed by this Court in the judgment in W.P.(C) No.43625/2024. Subsequently, the petitioner filed W.P.(C) No.8041/2025. The said writ petition was dismissed as withdrawn with liberty to file a properly constituted writ petition. The petitioner approached this Court 2025:KER:25711 OP(DRT) No.111 of 2025 5 again filing W.P.(C) No.11495/2025, which was also dismissed as withdrawn, perhaps because the petitioner herein has filed OP(DRT) No.111/2025. 4. I find that the petitioner’s husband had approached this Court multiple times more than once earlier. Ext.P4 Securitisation Application and Ext.P5 Stay Petition were filed only on 20.03.2025. The applications are just numbered by the Registry of the Tribunal. In such circumstances, the petitioner cannot aspire for an early disposal of the Securitisation Application. For early disposal of Stay Petition, the petitioner can very well move the Debts Recovery Tribunal. The OP(DRT) is premature at this stage. The OP(DRT) is therefore dismissed. Sd/- N.NAGARESH JUDGE spk 2025:KER:25711 OP(DRT) No.111 of 2025 6 APPENDIX OF OP (DRT) 111/2025 PETITIONER EXHIBITS Exhibit P1 A TRUE COPY OF THE NOTICE DATED 26/8/2024 Exhibit P2 A TRUE COPY OF THE NOTICE DATED 17/2/2025 ISSUED U/S 14 Exhibit P3 TRUE EXTRACT OF THE UNDATED CMP 96/2025,FILED BEFORE CJM,ALAPUZHA BY THE DEFENDANTS AS OBTAINED BY THE APPLICANT Exhibit P4 A TRUE COPY OF THE UNNUMBERED SECURITIZATION APPLICATION DATED 20/3/2025 WITHOUT ANNEXURE Exhibit P5 A TRUE COPY OF THE UNNUMBERED IA DATED IN EXHIBIT P4 SECURITIZATION APPLICATION FILED IS PRODUCED HEREWITH AND 20/3/2025