IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR.JUSTICE N.NAGARESH TUESDAY, THE 4^TH DAY OF JUNE 2024 / 14TH JYAISHTA, 1946 OP (DRT) NO. 125 OF 2024 AGAINST THE ORDER/JUDGMENT DATED IN SA NO.441 OF 2023 OF DEBT RECOVERY TRIBUNAL, ERNAKULAM PETITIONER:

ABDUL NASAR P AGED 55 YEARS S/O ALAVIKUTTY, PANACHIKKAL HOUSE, VATTAPPRA, THURAKKAL, MANJERI, MALAPPURAM DISTRICT, PIN – 676121 BY ADVS.

SRI. P.SAMSUDIN SRI. A.M.BABU SMT. LIRA A.B.NASRIN WAHAB SMT.DEVIKA E.D.

RESPONDENTS:

1 THE AXIS BANK LTD

2ND FLOOR, GLOBAL TOWER, NEAR V ZONE MALL, PARAYANCHERI, MAVOOR ROAD, KOZHIKODE, REPRESENTED BY ITS AUTHORISED OFFICER., PIN – 673016

2 THE AUTHORISED OFFICER AXIS BANK LTD, 2ND FLOOR, GLOBAL TOWER, NEAR V ZONE MALL, PARAYANCHERI, MAVOOR ROAD, KOZHIKODE., PIN – 673016 BY ADVS.

SRI.Madhu Radhakrishnan SRI.NELSON JOSEPH(K/380/2007)

SRI.M.D.JOSEPH(K/839/2008)

SRI.DEEPAK ASHOK KUMAR(K/1624/2018)

THIS OP (DEBT RECOVERY TRIBUNAL) HAVING COME UP FOR ADMISSION ON 04.06.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

N.NAGARESH, J.

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O.P.(DRT) NO.125 of 2024 ------------------------------------------------- Dated this the 4^th day of June, 2024

JUDGMENT

Aggrieved by the coercive proceedings initiated by the Bank under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, the petitioner filed SA No.441/2023 before the Debts Recovery Tribunal-1, Ernakulam. As per proceedings dated 28.08.2023, the DRT granted a Status quo order in favour of the petitioner till 14.09.2023. The Status quo order was extended from time to time. On 21.12.2023, the counsel for the petitioner sought time and adjourned the case for final hearing. The DRT posted the matter to 18.01.2024 for final hearing, the Status quo order was not extended. It is in such circumstances that the petitioner has filed this writ petition seeking to call for records leading to Ext.P5 and set aside the same.

2. I have heard the learned counsel for the petitioner and the learned Standing Counsel appearing for the respondents.

3. The grievance of the petitioner is that a Status quo order granted in favour of the petitioner as per Ext.P3, was not extended as per Ext.P5 interim order. It is in those circumstances that this OP (DRT) has been filed.

4. If the DRT has not extended the interim order while adjourning the case for final hearing, it is for the petitioner to file appropriate interlocutary application before the DRT and to revive and extend the Status quo order. Ext.P5 does not indicate that the Status quo order has been vacated on merits.

In the circumstances, the OP(DRT) is disposed of granting liberty to the petitioner to approach the Debts Recovery Tribunal for further interlocutary orders in the matter.

Sd/-

N.NAGARESH JUDGE STB APPENDIX OF OP (DRT) 125/2024 PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE MEMORANDUM IN SA

441/2023 ON THE FILES OF DEBT RECOVERY TRIBUNAL ERNAKULAM BENCH Exhibit P2 TRUE COPY OF THE IA 2797/2023 IN SA

441 /2023 ON THE FILES OF DEBT RECOVERY TRIBUNAL ERNAKULAM BENCH Exhibit P3 TRUE COPY OF THE ORDER DATED 28-08-

2023 IN SA 441/2023 APPEARED IN THE WEBSITE OF THE TRIBUNAL Exhibit P4 TRUE COPY OF THE WRITTEN STATEMENT IN SA 441/2023 ON THE FILES OF DEBT RECOVERY TRIBUNAL ERNAKULAM BENCH Exhibit P5 TRUE COPY OF THE ORDER DATED 21-12-

2023 IN SA 441 /2023 ON THE FILES OF DEBT RECOVERY TRIBUNAL ERNAKULAM BENCH