SUDHA RK Vs. IIFL HOME FINANCE LTD.

JUDGEMENT

(1.) Heard.

(2.) This writ petition under Article 226 of the Constitution of India is filed seeking to quash all the proceedings initiated by the respondent against the petitioners after the conditional order dtd. 24/12/2025 passed in I.A.No.1690 of 2025 in S.A.No.612 of 2024 on the file of the Debts Recovery Tribunal-III, Chennai.

(3.) The facts relevant are that challenging the order passed under Sec. 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 ["the Act"], the petitioners have filed S.A.No.612 of 2024 before the Debts Recovery Tribunal-III, Chennai ["the DRT"]. On 10/9/2024, while issuing notice to the respondent bank, the DRT directed to maintain status quo and listed the case on 19/11/2024. Thereafter, the respondent issued an Advocate-Commissioner notice on 16/8/2024 for taking physical possession of the property, against which, the petitioners have filed an advance hearing petition in I.A.No.1689 of 2025. On 24/12/2025, the DRT allowed I.A.No.1689 of 2025 and took up the matter for hearing. During the hearing the petitioners made a voluntary submission that they will pay some amount to show their bona fide and, accordingly, prayed for stay in I.A.No.1690 of 2025.