IN THE HIGH COURT OF KERALA AT ERNAKULAM
MOHAMMED NIAS C.P., J
MINI ZAKIR – Appellant
Versus
M/S.PHOENIX ARC PRIVATE LIMITED TRUSTEE OF PHOENIX TRUST – Respondent
O R D E R
The Review Petition is filed against the judgment dated
24.10.2025 in O.P.(DRT) No.183 of 2025, wherein this Court directed the petitioner to comply with the deposit mandated under Section 18(1) of the SARFAESI Act , as ordered by the Appellate Tribunal on 07.04.2025, and held that the expression “debt due” under the proviso to Section 18(1) includes interest accruing even after the issuance of notice under Section
13(2) of the Act.
2. The petitioner had earlier filed I.A.No.2 of 2025 in O.P.(DRT)
No.183 of 2025 seeking extension of time. The said application was withdrawn, reserving liberty to file a Review Petition.
3. The Review Petition is premised mainly on Ground C, which reads as under:
“C. Pursuant to Exhibit P1 and P2 notices, the petitioner has deposited Rs.50 lakhs as per Exhibits P3 and P4 and Rs.1 crore as per Exhibits P7 to P10. The Review Petitioner has also deposited Rs.25 lakhs pursuant to the judgment in O.P.(DRT) No.456/2023. The petitioner has further made payment of Rs.50 lakhs pursuant to the OTS as per Exhibits P17 to P20. The above payments deposited with the Bank were not considered by this Hon’ble Court while passing the judgment.”
4. This Court, on 2
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