ALL IN OIL TECH ENGINEERS vs KARNATAKA BANK LIMITED on 28 September 2026

O R D E R

1. RA No. 3/2026 in SA No. 969/2024:- This petition has been filed praying to review Annexure-P1 order dated 20.01.2026 passed in SA No. 969/2024 by this Tribunal.

2. The counsel appearing for the petitioners submitted that The Hon’ble High Court of Kerala was pleased to pass orders Annexure- P4(a) and Annexure-P4(p) granting extension of time to the petitioners to remit the amount as directed by the order of this Tribunal and that the above direction was complied with by the petitioners and that this Tribunal failed to consider the granting of extension of time by the Honb'le High Court of Kerala and compliance of payment and recognition of the applicants bonafide by the Honb'le High Court of Kerala, in Annexure-P1 order and that the non consideration of the above material portion of the order of the Honb'le High Court of Kerala creates an erroneous impression as if the applicants failed to comply with the conditional order and that it constitutes an error apparent on the face on the record and that therefore, this review application may be allowed.

3. The counsel appearing for the respondents submitted that Annexure-P1 order passed by this Tribunal does not suffer from any illegality and that therefore the review application may be dismissed.

4. The applicants filed SA No. 969/2024 praying to set aide Annexure- A1 possession notice and Annexure-A3 sale notice and to restrain the defendants from taking physical possession and selling of RA No. 3/2026 in SA No. 969/2024

secured assets and to direct the defendants to reschedule and regularize the loan accounts of the applicants.

5. The aforesaid reliefs except the relief to regularize/ reschedule the loan account of the applicants, are pertaining to the measurers referred to u/S 13 (4) of the SARFAESI Act, 2002. Approaching the Honb'le High Court of Kerala and obtaining order for extension of time to comply with the direction of this Tribunal and bonafide of the petitioners in complying with the conditional order, are not the measures referred to u/S 13 (4) of the SARFAESI Act, 2002. Further, the above order was passed for granting interim stay of further proceedings till the disposal of the SA. That is why this Tribunal omitted to refer to the aforesaid proceedings in its final order Annexure P1 order. Therefoe, this Tribunal does not find any substance in the submission of the counsel for the applicants that non mentioning of the aforesaid aspects in the final order constituted error apparent on the face of the record.

6. In view of the foregoing reasons, this Tribunal holds that this review application which is devoid of merits is liable to be dismissed.

In the result, this RA No. 3/2026 stands dismissed with costs to the respondents.

Dictated to Steno, taken down, transcribed, typed by him, corrected and pronounced by me in the Open Court, this the 28th day of September, 2026.

[Su. WILLYAHM]

PRESIDING OFFICER

Rn/