ABDUL HASSAN M., PROP. M/S HASSAN BROTHERS Vs. AUTHORIZED OFFICER, STATE BANK OF INDIA (ERSTWHILE SBT), KAZHAKUTTAM BRANCH, THIRUVANANTHAPURAM

JUDGEMENT

(1.) The petitioners, who are aggrieved by a notice of dispossession issued by the Advocate Commissioner, so as to take physical possession of the properties belonging to them in connection with an alleged default of loan amounts, states that against an order of the Debt Recovery Tribunal they had approached the Debt Recovery Appellate Tribunal (DRAT) and by an order of the Debt Recovery Appellate Tribunal they were permitted to effect the pre-deposit of an amount of Rs. 51,00,000/- in two instalments, namely, Rs. 26,00,000/- within four weeks from 16.05.2017 and another sum of Rs. 25,00,000/- within a further period of four weeks from that date. It is the case in the writ petition that while he has time upto 13.06.2017 for effecting payment of the 1st instalment of Rs. 26,00,000/-, the notice issued by the Advocate Commissioner at the instance of the respondent bank is even before the petitioners had an opportunity to pay the preW.deposit amount directed by the DRAT.

(2.) When the matter came up for admission on 19.05.2017, a learned Single Judge directed the matter to be posted today and passed an order of status quo with regard to the possession of the secured assets till then. When the matter came up today, it is submitted by the learned counsel for the petitioners that the appeal before the DRAT is posted on 13.06.2017 for ascertaining compliance with the order of the DRAT by the petitioners herein. Taking note of the said submission, and finding that, the main issue is under seisin of the DRAT which has already passed an order with regard to pre-deposit as a pre-condition for hearing the appeal preferred by the petitioners against the order of the Debt Recovery Tribunal, I dispose the writ petition with the following directions: