The court emphasized that pending a stay petition, taking possession under SARFAESI procedures requires Tribunal consideration.

IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR.JUSTICE C. JAYACHANDRAN FRIDAY, THE 23^RD DAY OF JANUARY 2026 / 3RD MAGHA, 1947 OP (DRT) NO. 36 OF 2026 SA NO.37 OF 2026 OF DEBT RECOVERY TRIBUNAL, ERNAKULAM PETITIONERS/APPLICANTS IN SA:

1 SASEENDRAN AGED 54 YEARS S/O CHATHUKUTTI, AREEKKAN CHALIL, PANTHIRIKKARA, CHANGAROTH, KOZHIKODE DISTRICT, PIN - 673528

2 SHEEBA AGED 49 YEARS W/O. SASEENDRAN AREEKKAN CHALIL, PANTHIRIKKARA, CHANGAROTH, KOZHIKODE DISTRICT, PIN - 673528 BY ADVS.

SRI.N.ANAND SHRI.RAJESH O.N. SHRI.AMEER SALIM SHRI.SADIQ NAZAR RESPONDENT/RESPONDENTS IN SA:

CANARA BANK PERAMBRA BRANCH MAIN ROAD, PERAMBRA, KOZHIKODE REPRESENTED BY ITS AUTHORIZED OFFICER, PIN - 673525 THIS OP (DEBT RECOVERY TRIBUNAL) HAVING COME UP FOR ADMISSION ON 23.01.2026, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

JUDGMENT The short issue involved in this Writ Petition is that while a Securitisation Application (S.A), preferred by the petitioners, along with an application for stay of further proceedings, is pending before the Debt Recovery Tribunal – I, Ernakulam, the respondent/bank is attempting to take possession of the property by taking recourse to SARFAESI proceedings. Learned counsel for the petitioners would submit that the S.A. was filed on 06.01.2026, when possession was scheduled to be taken on 16.01.2026, as seen from Ext.P3. On that date, possession could not be taken and a fresh date has not been scheduled. However, the Advocate Commissioner is pestering the petitioners that possession will be taken soon. Learned counsel would point out that the S.A, along with the stay petition, has been adjourned to 28.01.2026, as could be seen from Ext.P6. The petitioners seek solace from this Court untill 28.01.2026; on which date, the petitioners' stay petition will be considered by the Debt Recovery Tribunal.

2. Learned counsel for the respondent/bank would submit that as per the instructions received, the taking of possession is scheduled only on 30.01.2026.

3. In the light of the submissions made, this Court directs the Debts Recovery Tribunal – I to consider the stay petition filed in S.A.No.37/2026 on 28.01.2026, itself; or, in case it is being adjourned, to issue necessary orders preserving the subject matter of the S.A. Subject to that condition, this Court is of the opinion that the taking of possession scheduled on 30.01.2026 need not be disturbed.

This Writ Petition will stand disposed of as above.

Sd/-