IN THE HIGH COURT OF KERALA AT ERNAKULAM
WP(C).No. 19079 of 2009(D)
1. P.K SURESH BABU, S/O.LATE P.K.
... Petitioner
Vs
1. STATE BANK OF TRAVANCORE,
... Respondent
2. THE AUTHORISED OFICER, CHIEF MANAGER
For Petitioner :SRI.P.V.BABY
For Respondent :SRI.K.S.DILIP, SC FOR SBT
The Hon'ble MR. Justice C.K.ABDUL REHIM
Dated :01/03/2010
O R D E R
C.K.ABDUL REHIM, J.
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W.P.(C).No.19079 OF 2009
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Dated this the 1st day of March, 2010
J U D G M E N T
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1. Challenge in this writ petition is against proceedings
initiated under Securitisation and Reconstruction of Financial
Assets and Enforcement of Security Interest Act, 2002
(SARFAESI Act). On an earlier occasion the petitioner had
approached this court challenging the vary same proceedings
and under Ext.P2 judgment indulgence was shown by this court
permitting payment of the amount due in various installments. it
is noticed that thereafter the petitioner was allowed further time
by extending the period stipulated for effecting payment. In
view of the above facts and circumstances I am not inclined to
entertain this writ petition filed without exhausting the effective
alternate remedy available under the SARFAESI Act.
2. It is stated by the standing counsel appearing for the
respondent Bank that pursuant to an order issued by the Chief
Judicial Magistrate Court under Section 14, the secured asset
has already been taken over possession. Therefore the writ
petition is dismissed without prejudice to rights if any available
to the petitioner to approach statutory authorities.
W.P.(C).19079/09-D 2
3. It is also made clear that this will not preclude the
petitioner from raising any dispute against amounts due under
any other loan transaction to which the same assets of
immovable property is offered as security.
C.K.ABDUL REHIM, JUDGE.
okb