BIJU M. JOHNY Vs. CHIEF MANAGER

JUDGEMENT

(1.) The petitioner was served a notice under Sec. 13(2) of the SARFAESI Act and he filed S.A.No.615/2022 before the Tribunal. In the meanwhile, there was a settlement between the petitioner and the respondent Bank for an amount of Rs.185.00 lakhs, out of which the petitioner paid Rs.164.00 lakhs. Since the entire amount was not paid, the Bank cancelled the compromised settlement and issued Ext.P4 notice. The petitioner requests for enlargement of time for payment of balance amount of Rs.21.00 lakhs. The petitioner also moved I.A.No.1303/2024 in SA No.615/2022 for a direction for enlargement of time. In the meanwhile, an Advocate Commissioner issued a notice on 16/8/2024 informing that the physical possession of the secured assets will be taken on 31/8/2024. Thereafter, the petitioner filed advanced petition with an amended application for advancing the case for passing orders on the enlargement of time petition as well as the stay petition. The petitioner submitted that there was no sitting in the Tribunal on 28/8/2024 and 29/8/2024 and therefore, he could not move the Tribunal for getting appropriate orders. In such circumstances, he approached this Court.

(2.) The learned Standing counsel for the Bank submits that since the petitioner has not complied with the compromised agreement, they cancelled the compromised agreement and since the petitioner has already moved the DRT with a petition for enlargement of time, this Court shall not extend the same under Article 226 of the Constitution of India.