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Judgment
G. Chandrasekharan, Chairperson
As per the order passed by this Tribunal in IA 273/2024 (Waiver) dated 06.05.2025, this appeal is numbered. Since the scope of this appeal is very limited, with the consent of both the parties, this main appeal is itself taken up today for consideration.
This appeal is filed under Section 18 of SARFAESI Act challenging the order passed by the Ld. Presiding Officer, DRT - I, Ernakulam in IA 2201/2023 in SA 341/2023 dated 22.11.2023.
Now that the pre-deposit had been complied with by the appellants, appeal being numbered, this Tribunal disposes this appeal as follows:
The Ld. Presiding Officer, DRT - I, Ernakulam is directed to dispose the SA 341/2023 as expeditiously as possible on merits and in accordance with law. There shall be an interim order of stay of further proceedings against taking possession of the property for a period of two months. The Ld. Presiding Officer, DRT - I, Ernakulam shall make endeavor to dispose the SA 341/2023 within a period of two months. If it is not possible to do so, it is for the Ld. Presiding Officer, DRT - I, Ernakulam to consider the extension of stay order as the exigency demands.
In the result, this Appeal MA (SA) 37/2025 is disposed as above.
Parties are directed to bear their own costs. Pending IAs, if any, stand closed