JEEVA.M.A Vs. FEDERAL BANK LTD

JUDGEMENT

(1.) The petitioners impugn Ext.P22 order issued by the Debts Recovery Tribunal -2, Kerala, in a Securitization Application, numbered as S.A.No.220 of 2018, filed by the them, assailing certain measures taken by the respondent bank under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act ('the SARFAESI Act' for brevity).

(2.) It goes without saying that on account of the binding precedents of the Hon'ble Supreme Court in Union Bank of India v. Satyawati Tondon ((2010) 8 SCC 110) and followed recently in Authorised Officer, SBT v. Mathew (ILR 2018 (1) Ker. 479), I cannot entertain this writ petition because, the petitioner has an alternative, efficacious statutory remedy by filing an Appeal against this order before the Debts Recovery Appellate Tribunal, Chennai.

(3.) When I made my mind clear as afore, the learned counsel for the petitioners submit that his clients have chosen to file this writ petition since, according to them, Ext.P22 has been issued by the DRT in gross violation of various principles of law.