Kerala High Court: A writ petition filed flouting the interim stay order issued by Debt Recovery Tribunal (DRT) was dismissed by a Single Judge Bench of Dama Sheshadri Naidu J., wherein recovery proceedings of dispossession of property were ordered against the petitioner by the Chief Judicial Magistrate (CJM) Court under Secton 14 of SARFAESI Act, 2002 on request of the respondent company, against which the petitioner had obtained an interim stay order from DRT, wherein he was ordered to deposit a lump sum amount in the loan account of the respondent company which he further failed to comply with.
The High Court found no merit in the petition, and noted that the petitioner has openly disregarded the rule of law and failed to honour any conditions, showing absence of good faith on his part. The Court further observed that filing a writ petition during pendency of securitization application is an abuse of the process of the Court, and hence, giving due importance to justice and equity gave liberty to the petitioner to request the DRT in this regard. Accordingly the petition was dismissed. [Abdul Azees v. The Authorised Officer Phoenix Arc, 2018 SCC OnLine Ker 2694, dated 12-07-2018]