IN THE HIGH COURT OF KERALA AT ERNAKULAM
WA.No. 2695 of 2007()
1. PADMANABHAN.K.T., S/O.A.K.C.VELAYUDHAN,
... Petitioner
Vs
1. THE KERALA STATE CO-OPERATIVE
... Respondent
2. THE DEPUTY GENERAL MANAGER,
For Petitioner :SRI.V.T.MADHAVANUNNI
For Respondent :SRI.NAGARAJ NARAYANAN,SC,K.S.CO-OP BANK
The Hon'ble the Acting Chief Justice MR.J.B.KOSHY
The Hon'ble MR. Justice P.BHAVADASAN
Dated :09/02/2009
O R D E R
J.B. KOSHY, Ag. CJ. & P.B HAVADASAN, J.
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WRIT APPEAL No. 2695 of 2007
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Dated this the 9th day of February, 2009.
JUDGMENT
KOSHY, Ag.CJ,
The appellant-petitioner took loan from the Kerala State
Co-operative Bank and created security of his property by deposit of
title deeds. When action was taken under the Securitisation and
Reconstruction of Financial Assets and Enforcement of Security
Interest Act, the petitioner approached this court. The learned Single
Judge relegated the petitioner to approach the appropriate forum.
2. The main contention of the petitioner that the Kerala
State Co-operative Bank, which is a scheduled Bank, will not come
under the SARFAESI Act was turned down by the learned Single
Judge by following the decision reported in Greater Bombay Co-
operative Bank Ltd. v. M/s. United Yarn Tex. Pvt. Ltd. (JT 2007(5)
SC 201).
3. In view of the fact that the property was about to be
sold, this court had granted interim stay on 11.1.2008 provided the
petitioner pays 25% of the amount demanded within two months from
WA. 2695/2007. 2
the date of the order. That period expired on 11.3.2008. So far 25% of the
amount was not paid. The impugned judgment is dated 20.9.2007.
Therefore, we see no merit in the writ appeal. However, if the petitioner
files an application before the Debt Recovery Tribunal, it is for the said
authority to consider the matter and take a decision in accordance with law.
We dismiss the writ appeal.
J.B. KOSHY,
ACTING CHIEF JUSTICE
P. BHAVADASAN,
JUDGE
sb.