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Judgment
Gopinath P., J
The petitioner Trust is stated to be running an Engineering College, the property of which is mortgaged to the 1st respondent Bank.
When this matter came up for consideration today, the learned counsel appearing for the petitioner submits that the petitioner has already filed Securitisation Application before the Debt Recovery Tribunal and there may be a direction to the Debt Recovery Tribunal to consider and pass orders on Ext.P2 stay application filed in S.A.No.206/2019.
The learned standing counsel appearing for the 1st respondent submits that it is for the petitioner to move the Tribunal for interim relief, if necessary by advancing the case. It is also submitted that the College is not functional at present.
Having regard to the facts of the case, I deem it appropriate to grant the petitioner an opportunity of obtaining appropriate interim orders from the Tribunal. Therefore, the Original Petition (DRT) will stand disposed of directing that all coercive steps against the petitioner shall be kept in abeyance for period of one month from today to enable the petitioner to move the Debt Recovery Tribunal for appropriate interim relief.