ERNAKULAM v. CANARA BANK

are defendants in the Securisation Application No.201 of 2022, filed before the Debts Recovery Tribunal-II, Ernakulam. The petitioner has exercised a Right to Appeal by Ext.P1 Securitisation Application and the same is not likely of being heard in near future. In all probabilities, as the petitioner was made to understand in the course of the hearing, the impugned proceedings are likely to be set aside.

#2. The petitioner is aggrieved by non-disposal of Ext.P2 stay petition in time bound manner. Since property covered by the impugned proceeding is agricultural property and the same is assigned to the petitioner by the Government of Kerala as land less labour, there is absolute bar under Section 31 of the Securitisation and Reconstruction of Financial Assets and Enforcement of O.P.(DRT) No.382 of 2023 : 4 : Security Interest Act and Section 60 of Code of Civil Procedure, contends the petitioner.

#3. Standing Counsel entered appearance on behalf of the respondents and resisted the O.P.(DRT). The Standing Counsel submitted that the petitioner had earlier approached this Court filing O.P.(DRT) No.416 of 2022 and this Court has noted in the said O.P.(DRT) that the petitioner is not diligently prosecuting the S.A before the Tribunal. There is no bona fide in filing this O.P.(DRT), contended the Standing Counsel.

#4. I have heard the learned Counsel appearing for the petitioner and the learned Standing Counsel representing the respondents.

#5. The limited prayer made by the petitioner in the O.P.(DRT) is to direct the Debts Recovery Tribunal-II, Ernakulam to dispose of I.A No.842/2022 for interim stay and I.A No.843/2022 for commission for local inspection in S.A No.201/2022 filed by him. O.P.(DRT) No.382 of 2023 : 5 :

#6. Taking into consideration the facts of the case and also taking note of the fact that the I.As were filed in the year 2022, it would be only just and proper for the Debts Recovery Tribunal-II, Ernakulam to dispose of those applications expeditiously. In the circumstances, the O.P.(DRT) is disposed of directing that the Debts Recovery Tribunal-II, Ernakulam shall consider I.A No.842/2022 for interim stay and I.A No.843/2022 for commission for local inspection filed by the petitioner in S.A No.201/2022 and dispose of those matters as expeditiously as possible and at any rate within a period of two months. AMR Sd/- N. NAGARESH JUDGE O.P.(DRT) No.382 of 2023 : 6 : APPENDIX OF OP (DRT) 382/2023 PETITIONER’S EXHIBITS Exhibit P1 Exhibit P2 Exhibit P3 Exhibit P4 Exhibit P5 COPY OF THE SECURITISATION APPLICATION NO. 201 OF 2022 DATED 22ND APRIL 2022. INTERLOCUTORY APPLICATION NO. 842 OF 2022 DATED 22ND APRIL 2022 FOR STAY. THE INTERLOCUTORY APPLICATION NO. 843 OF 2022 FOR ISSUANCE OF COMMISSION DATED 22ND APRIL 2022. COPY OF THE JUDGMENT DATED 24TH NOVEMBER 2022 IN ORIGINAL PETITION (DRT) NO. 416 OF 2022 THIS HON'BLE COURT. COPY OF THE SAID NOTICE DATED 05TH SEPTEMBER 2023 ISSUED BY THE ADVOCATE COMMISSIONER.