K.V.Raghavan vs City Union Bank Ltd. on 28 January, 2011

       

  

  

 
 
  IN THE HIGH COURT OF KERALA AT ERNAKULAM

WP(C).No. 2111 of 2011(L)


1. K.V.RAGHAVAN, PROPRIETOR,
                      ...  Petitioner

                        Vs



1. CITY UNION BANK LTD., REP.BY ITS BRANCH
                       ...       Respondent

2. AUTHORISED OFFICER,

                For Petitioner  :SMT.VIJAYAKUMARI

                For Respondent  : No Appearance

The Hon'ble MR. Justice C.K.ABDUL REHIM

 Dated :28/01/2011

 O R D E R
                   C.K.ABDUL REHIM, J.

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                  WP(C).No.2111 of 2011-L.
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              Dated this the 28th January, 2011.

                       J U D G M E N T

Challenge in this writ petition is against Ext.P2 notice

issued under Section 13(2) of the Securitisation and

Reconstruction of Financial Assets and Enforcement of

Security Interest Act, 2002 (SARFAESI Act).

2. Under the scheme of the Statute, the petitioner

has got opportunity to submit objections/representations

against the demand under Sec.13(2). It is mentioned that

the petitioner had already sent Ext.P3 letter, on receipt of

the notice in question. Under Sec.13(3) the respondent is at

an obligation to consider the same and to take a decision

thereof, and further to intimate such decision to the

petitioner. It is noticed that if the petitioner is aggrieved by

any such decision and further steps as contemplated under

Sec.13(4), he has got a remedy to approach the statutory

authority under Sec.17(1).

WP(C).No.2111 of 2011-L.

2

3. Under the above mentioned circumstances, I am

of the view that the issue raised in this writ petition is

premature to be considered. Hence the writ petition is

dismissed reserving rights if any available to the petitioner

to invoke statutory remedies. Needless to say that before

proceeding with any further steps the respondent should

intimate the decision taken on the basis of Ext.P3, to the

petitioner.

C.K.ABDUL REHIM,
(Judge)

Kvs/-