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IN THE HIGH COURT OF KERALA AT ERNAKULAM
S.V. BHATTI, J
R.DHANALAKSHMI – Appellant
Versus
THE SENIOR MANAGER, UNION BANK OF INDIA KOLLAM BRANCH – Respondent
| Table of Content |
|---|
| 1. parties involved and the nature of the proceedings. (Para 1 , 2) |
| 2. petitioners challenge drat orders. (Para 3) |
| 3. events leading to the petitions and historical context. (Para 4 , 5 , 6) |
| 4. arguments surrounding the pre-deposit requirement. (Para 8 , 9 , 10 , 11) |
| 5. arguments supporting the necessity of interest calculation. (Para 12 , 13 , 14) |
| 6. court's interpretation of statutory provisions. (Para 15 , 16 , 17 , 18) |
| 7. court's rationale in deciding the pre-deposit condition. (Para 19 , 20 , 23) |
JUDGMENT
[ WP(C).9331/2019, WP(C).11506/2019 ]
Dated this the 18th day of December 2019
Heard Advocates S.Easwaran, A.S.P. Kurup and Madhu Radhakrishnan for parties.
2. The petitioners in these two writ petitions assail the legality of orders made by the DRAT under Section 18 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (‘Act 2002’ for short).
2.1 Appellants in AIR 690 of 2018 before the Debts Recovery Appellate Tribunal (‘DRAT’ for short) are the petitioners in W.P.(C) No.9331 of 2019. The petitioners assail order dated 21.03.2019 in I.A. No.1218 of 2019 (Ext.P4) as illegal and beyond the jurisdiction or discretion
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