AI Structured Summary
Not yet generated for this judgment
Judgment
T.R. Ravi, J
The writ petition has been filed by the petitioners challenging the proceedings before the Debt Recovery Tribunal. The petitioners 1 & 2 had earlier approached this Court by filing WP(C) No.10049/2022 wherein the petitioners had confined reliefs for repaying the overdue amount in instalments and to obtain regularisation of the loan account. This Court by judgment dated 24.03.2022 directed the respondent Bank to accept repayment of the entire overdue amount along with the Bank charges from the petitioners and regularise the loan account subject to certain conditions. Petitioners 1 & 2 failed to comply with the directions contained in the judgment in WP(C) No.10049/2022 and when physical possession was sought to be taken in pursuance of the proceedings initiated under the SARFAESI Act, petitioners approached the Debt Recovery Tribunal challenging the proceedings. An application for stay has been preferred as I.A.No.131/2023. By Ext.P10 order, the Debt Recovery Tribunal directed to maintain status quo on condition that the applicants deposit a sum of ₹6,00,000/- out of the total outstanding in two instalments of ₹3,00,000/- each. It is aggrieved by the said order that this writ petition has been filed.
The petitioners 1 & 2 chose to approach this Court earlier and a judgment was also issued since they only wanted regularisation of the loan account. The prayer in the present writ petition if allowed would have the effect of modifying the earlier judgment, which according to me, cannot be done except by way of a review or by way of an appeal. The remedy is not by filing a fresh writ petition.
In the above circumstances, this writ petition fails and is dismissed. However, the dismissal of the writ petition is without prejudice to the petitioners filing an appropriate application for review of the earlier judgment.