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NON-REPORTABLE    

               IN THE SUPREME COURT OF INDIA                  CIVIL ORIGINAL JURISDICTION

         WRIT PETITION (C) NO.367 OF 2011

   ST. MARY'S HOTEL (P) LTD. & ANR.        ... PETITIONERS

               VS.

   KOTTAYAM DIST. COOP. BANK LTD. & ORS.   ... RESPONDENTS

   J U D G M E N T

ANIL R. DAVE, J.

1. At the time of hearing of this petition, it has been  

submitted that Petitioner No.1 has already filed an appeal  

before  the  Debt  Recovery  Appellate  Tribunal  at  Chennai  

(DRAT) and   the said appeal, being AIR (SA) 230/2011, is  

pending.  In the afore-stated appeal an interim order had  

been passed  whereby the petitioner had been directed to  

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,  

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; 10h March, 2015.