IN THE HIGH COURT OF KERALA AT ERNAKULAM
WP(C) No. 18981 of 2007(I)
1. K.K.SREEDHARAN, AGED 50 YEARS,
... Petitioner
Vs
1. THE CANARA BANK,
... Respondent
2. THE AUTHORIZED OFFICER,
For Petitioner :SRI.K.T.SHYAMKUMAR
For Respondent : No Appearance
The Hon'ble MR. Justice S.SIRI JAGAN
Dated :20/06/2007
O R D E R
S.SIRI JAGAN, J.
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W.P.(C)No. 18981 OF 2007
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Dated this the 20th day of June, 2007
J U D G M E N T
Petitioner challenges Exhibit-P2 proceeding under the
Securitisation and Reconstruction of Financial Assets and
Enforcement of the Security Interest (Enforcement) Act on the
ground that notice issued is not in compliance with the relevant
rules. The Learned Standing Counsel appearing for the
respondents points out that the petitioner has already filed one
writ petition, in which, originally there was an interim order
directing the petitioner to pay part of the amount, which has not
been complied with. In spite of the same, the case was disposed
of granting further time to the petitioner to pay the amount in
instalments as per Ext.P3 judgment and those conditions also
have not been complied with by the petitioner.
2. In the above circumstances, Learned Counsel for the
respondent submits that this writ petition should not be
entertained.
3. After hearing both sides, I am not inclined to entertain
this writ petition. Sufficient indulgence has been shown to the
W.P.(C)No. 18981 OF 2007
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petitioner in the matter of payment of amount in instalments. In
spite of the same, petitioner has not paid the amounts. That
being so, I am not inclined to exercise my discretionary
jurisdiction in favour of the petitioner. In any event, it is settled
law that proceedings under the Securitisation and
Reconstruction of Financial Assets and Enforcement of Security
Interest (Second) Act 2002 has to be challenged in appeal
before the appropriate authority. Without prejudice to such
rights, this writ petition is dismissed.
S.SIRI JAGAN, JUDGE
ma
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