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Judgment
This appeal is filed against the interim order passed in IA 875/2025 in SA 177/2025.
SA 177/2025 was filed to set aside the order passed by the learned Chief Judicial Magistrate, Coimbatore in Crl.M.P.No. 28920/2024. During the pendency of the securitization application, petitioners filed IA 875/2025 for staying the further proceedings. Learned Presiding Officer, passed an order on 21.02.2025 on the basis of the submission of the learned counsel appearing for the petitioners before the Tribunal that the petitioners would deposit the balance debt of Rs.70,00,000/- to demonstrate their bonafies in paying the dues towards redemption of mortgage. On the basis of the said submission, learned Presiding Officer , DRT, Coimbatore directed the Bank to receive the amount and keep it in “no lien” account. Without depositing this amount, this appeal is filed.
SA 177/2025 is still pending. On a query as to why Rs.70,00,000/- was not deposited after giving an undertaking to deposit the amount, learned counsel for the petitioners submitted that the first petitioner was unwell and that was the reason for not depositing the amount. Now, the petitioners prepared to make deposit.
Learned counsel for the respondent submitted that in this matter, sale was held and sale certificate was also issued on 03.01.2025.
In the light of the submissions made by the learned counsel for the parties, this Tribunal is of the view that this appeal can be disposed by giving direction to the learned Presiding Officer, DRT, Coimbatore, to dispose the SA 177/2025 on merits and in accordance with law, as expeditiously as possible. There shall be an interim protection against taking possession of the property alone for a period of one month from today. Thereafter, it is for the learned Presiding Officer, DRT, Coimbatore, to decide on the continuance or discontinuance of the interim protection depending on the need and exigency. Accordingly, this appeal is disposed. Parties are directed to bear their own costs. Pending IAs, if any, shall stand closed.
Sd/-[Justice G. Chandrasekharan] Chairperson