Full Judgment Text
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NON-REPORTABLE
IN THE SUPREME COURT OF INDIA
CIVIL ORIGINAL JURISDICTION
WRIT PETITION (C) NO.367 OF 2011
| ... PETITIO<br>... RESPOND | |
|---|---|
| VS.<br>KOTTAYAM DIST. COOP. BANK LTD. & ORS.<br>J U D G M E N T<br>ANIL R. DAVE, J.<br>1. At the time of hearing of this pe<br>submitted that Petitioner No.1 has alre<br>before the Debt Recovery Appellate T<br>(DRAT) and the said appeal, being AI<br>pending. In the afore-stated appeal a |
been passed whereby the petitioner had been directed to
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pay Rs.65 lakhs (Rupees sixty five lakhs) by way of pre-
deposit. At that stage, Writ Petition No.367/2011 had been
filed in this Court. In pursuance of an interim order
passed by this Court, a sum of Rs.2 crores (Rupees two
Crores) has been paid by the petitioners to the respondent-
Bank and the said amount has been kept in a separate
account by the respondent-Bank.
2. As the petitioners have already paid more than Rs.65
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lakhs (Rupees sixty five lakhs), we direct that the amount
which has been deposited in a separate account by the
respondent-Bank, shall be appropriated towards the dues of
the petitioners.
3. It would not be necessary for the petitioners to pay
a further sum of Rs.65 lakhs as directed by the Tribunal.
The Tribunal shall decide the appeal which is pending
before it, preferably within three months from the date of
receipt of a copy of this order. During the pendency of
afore-stated appeal before the DRAT, no coercive steps
shall be taken for recovery of the amount under the
provisions of the Securitization and Reconstruction of
Financial Assets and Enforcement of Security Interest Act,
2002 (SARFAESI Act).
4. The question of law with regard to the SARFAESI Act,
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2002 and the Multi-State Cooperative Societies Act, 2002,
is kept open.
5. The Registry shall give intimation of this order to
the Tribunal.
6. The writ petition and I.A.12 (For directions) stand
disposed of accordingly.
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..............J.
[ANIL R. DAVE]
..............J.
[KURIAN JOSEPH]
New Delhi;
h
10 March, 2015.
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