IN THE HIGH COURT OF KERALA AT ERNAKULAM
WP(C).No. 13788 of 2008(N)
1. S.UNNIKRISHNAN, S/O.SUKUMARAN,
... Petitioner
Vs
1. THE MANAGER, STATE BANK OF INDIA,
... Respondent
2. THE AUTHORISED OFFICER, REGIONAL OFFICE,
3. THE CHIEF GENERAL MANAGER, STATE BANK
For Petitioner :SRI.AVM.SALAHUDIN
For Respondent :SRI.K.K.CHANDRAN PILLAI
The Hon'ble MR. Justice S.SIRI JAGAN
Dated :04/07/2008
O R D E R
S. Siri Jagan, J.
=-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-=-=
W. P (C) No. 13788 of 2008
=-=-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-=
Dated this, the 4th July, 2008.
J U D G M E N T
The petitioner challenges proceedings under the Securitisation
and Reconstruction of Financial Assets and Enforcement of Security
Interest Act, 2002 initiated by the respondents for recovery of
defaulted loan amounts due from the petitioner to the respondents.
2. Originally, I had granted a stay on condition that the
petitioner pays an amount of Rs. 50,000/- within one month. That
amount was paid. However, I refused to extend the stay further in
view of the averments in the counter affidavit filed by the
respondents. Counsel for the petitioner now confines his prayer for a
direction to the 3rd respondent to consider and pass orders on Ext. P3
expeditiously and to stay further coercive proceedings till orders are
thus passed.
3. I have heard the learned standing counsel for the Bank, who
stoutly opposes the prayer. Quoting from the statement, he would
submit that the petitioner has not come before this Court with clean
hands and therefore the petitioner is not entitled to any reliefs. Of
course, the petitioner has filed a reply affidavit denying these
allegations. Counsel for the Bank also submits that the Bank has
already taken possession of the security interest. Whatever that be, I
dispose of this writ petition with a direction to the 3rd respondent to
consider and pass orders on Ext. P3 as expeditiously as possible, at
any rate, within two weeks from the date of receipt of a copy of this
judgment. Till orders are passed on Ext. P3, further proceedings
pursuant to Exts. P1 and P2 shall be kept in abeyance.
The petitioner shall forward a certified copy of this judgment
W.P.C. No. 13788/2008. -: 2 :-
along with a copy of the writ petition to the 3rd respondent for
compliance.
Sd/- S. Siri Jagan, Judge.
Tds/