Rinu.V Luckose vs Authorized Officer, Union Bank Of India

C.S Dias, J

The original petition is filed to direct the Debts Recovery Tribunal-2, Ernakulam(Tribunal), to consider and dispose of I.A.Nos.2243 & 2244/2023 (Exts P3 & P4) filed in S.A.No.98/2023, expeditiously.

The petitioners’ case is that they have filed Ext P1 Securitization Application before the Tribunal on 18.02.2023. Subsequently, an Advocate Commissioner has issued Ext P2 notice. Then, the petitioners have filed Ext P3 application to amend the Securitization Application and Ext P4 application to stay further recovery proceedings. During the pendency of Exts P3 & P4, the petitioners are apprehensive that the respondent may take physical possession of the secured asset. Hence, the original petition.

Heard; Sri. Jose Antony, the learned counsel appearing for the petitioners and Sri. ASP Kurup, the learned standing counsel appearing for the respondent.

Having considered the pleadings and materials on record, and taking note of the fact that Exts P3 & P4 are pending consideration before the Tribunal, I deem it appropriate to direct the Tribunal to consider and dispose of the above applications immediately.

Resultantly, in exercise of the supervisory powers of this Court under Article 227 of the Constitution of India, I dispose of the original petition as follows:

(i) The Debts Recovery Tribunal-2, Ernakulam, is directed to consider and dispose of Exts P3 & P4 applications, in accordance with law and as expeditiously as possible, at any rate, within a period of one month from the date of receipt ofa certified copy of this judgment, after affording the petitioners and the respondent an opportunity of being heard.

(ii)Until such time orders are passed on Exts P3 & P4 applications, all further recovery proceedings pursuant to Ext P2 shall stand deferred.