2025:KER:29475 IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. FRIDAY, THE 4TH DAY OF APRIL 2025 / 14TH CHAITHRA, 1947 OP (DRT) NO. 123 OF 2025 SA NO.999/2024 OF DEBT RECOVERY TRIBUNAL, ERNAKULAM PETITIONERS/APPLICANTS: 1 RAJENDRAN, AGED 74 YEARS, S/O POLLINAN,KOMATH POYIL, MOKERI, KUNNUMMAL,KOZHIKODE, NADAPURAM, PIN – 673507. 2 KANAKAVALLI, AGED 67 YEARS, W/O RAJENDRAN,KOMATH POYIL, MOKERI,KUNNUMMAL,KOZHIKODE, NADAPURAM, PIN – 673507. BY ADVS. SHARAN SHAHIER TREESA SHAJI RHEA SHERRY SONA BENNY ANGELINA JOY ADITHYAN C. RESPONDENTS/RESPONDENTS: 1 UNION BANK OF INDIA, REGIONAL OFFICE, KSHB COMPLEX, VIKAS NAGAR, CHAKKORATHHULAM, KOZHIKODE,REPRESENTED BY ITS AUTHORISED OFFICER, PIN – 673006. OP (DRT) NO. 123 OF 2025 2 2025:KER:29475 2 REENA P.K, MANAGING PARTNER,TRUST MARKETING,DOOR NO:32/2240 C WARD NO:32,MUNDIKKALTHAZHAM, CHELAVUR VILLAGE, PIN – 673571. 3 LEKHA G P, PARTNER,TRUST MARKETING,DOOR NO:32/2240 C WARD NO:32,MUNDIKKALTHAZHAM, CHELAVUR VILLAGE, KOZHIKODE, PIN – 673571. SRI. C.MURALIKRISHNAN (PAYYANUR), SC THIS OP (DEBT RECOVERY TRIBUNAL) HAVING COME UP FOR ADMISSION ON 04.04.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: OP (DRT) NO. 123 OF 2025 3 2025:KER:29475 JUDGMENT The petitioners have approached this Court being aggrieved by the fact that when an application filed by the petitioners seeking stay of steps for taking physical possession of the secured asset is pending consideration before the Debts Recovery Tribunal – I, Ernakulam (Tribunal) in S.A.No.999/2024, the Bank is proceeding to take physical possession. It is the case of the petitioners that though the petitioners had advanced the case to be considered yesterday (03.04.2025), the Tribunal has adjourned the matter to 17.04.2025 without passing any order on the application for stay. 2. The learned counsel appearing for the respondent Bank would submit that the Tribunal had adjourned the matter only on account of the fact that the petitioners had not agreed for payment of any amount as a condition for stay. It is pointed out that the order of the Chief Judicial Magistrate Court is also not under challenge before the Tribunal. Having heard the learned counsel appearing for the petitioners and the learned counsel appearing for the respondent Bank, this Original petition will stand disposed of directing that the OP (DRT) NO. 123 OF 2025 4 2025:KER:29475 steps for taking physical possession of the secured asset shall stand adjourned till 20.04.2025 to enable the petitioners to seek appropriate interim orders from the Tribunal in the Securitisation Application referred to above. This shall, however, be subject to the condition that the petitioners remit a sum of Rs.8 lakhs towards the loan liability by 05.00 p.m on 08.04.2025. I make it clear that the Tribunal shall, while considering the Interlocutory Application filed by the petitioners, also have regard to the fact that the petitioners have paid a sum of Rs.8 lakhs provided the amount is paid by the petitioners before 05.00 p.m on 08.04.2025. If the petitioners fail to pay the amount of Rs.8 lakhs by 5.00 pm on 08.04.2025, it will be open to the respondent Bank to take physical possession of the secured assets, in accordance with the law. It is also made clear that this judgment will not prevent the Tribunal from imposing any additional condition if the Tribunal feels that the imposition of such additional condition is appropriate in the facts and circumstances of this case. Sd/- GOPINATH P. JUDGE DK OP (DRT) NO. 123 OF 2025 5 2025:KER:29475 APPENDIX OF OP (DRT) 123/2025 PETITIONER EXHIBITS Exhibit P1 THE TRUE COPY OF THE LAND TAX RECEIPT ALONG WITH THE TRANSLATION DATED 23/5/2024 Exhibit P2 THE TRUE COPY OF THE DEMAND NOTICE UNDER SECTION 13(2) OF THE SARFAESI ACT WAS ISSUED TO THE APPLICANT ON 19.06.2024 Exhibit P3 THE TRUE COPY OF THE POSSESSION NOTICE ISSUED BY THE RESPONDENT UNDER RULE 8 (1) OF THE SECURITY INTEREST (ENFORCEMENT) RULES 2002 DATED 02.11.2024 Exhibit P4 THE TRUE COPY OF THE NOTICE DATED 27.11.2024 ISSUED UNDER RULE 6(2)/ 8(6) Exhibit P5 THE TRUE COPY OF THE NOTICE DATED 21.03.2025 ISSUED BY THE ADVOCATE COMMISSIONER APPOINTED BY THE CJM, KOZHIKODE IN C.M.P. NO:519 OF 2025 Exhibit P6 THE TRUE COPY OF THE SECURITIZATION APPLICATION WHICH WAS NUMBERED AS S.A NO. 999/2024 ON THE FILES OF THE LEARNED DEBT RECOVERY TRIBUNAL-1, ERNAKULAM DATED 13/12/2024 Exhibit P7 THE TRUE COPY OF THE STAY PETITION IN IA NO. 5193/2024 FILED IN S.A NO. 999/2024 ON THE FILES OF THE LEARNED DEBT RECOVERY TRIBUNAL-1, ERNAKULAM DATED 1612/2024 Exhibit P8 THE COPY OF THE I.A NO. 1388 OF 2025 FILED FOR AMENDMENT OF EXT P6 ON 26.03.2025 Exhibit P9 THE TRUE COPY OF THE I.A NO. 1389 OF 2025 SEEKING STAY OF EXHIBIT P5