IN THE HIGH COURT OF KERALA AT ERNAKULAM
WP(C).No. 33882 of 2009(E)
1. S. KRISHNA KUMAR, AGED 44 YEARS,
... Petitioner
Vs
1. THE AUTHORISED OFFICER,
... Respondent
2. THE ASSISTANT GENERAL MANAGER,
For Petitioner :SRI.V.ANIL (K/1480/98)
For Respondent : No Appearance
The Hon'ble MR. Justice C.K.ABDUL REHIM
Dated :25/11/2009
O R D E R
C.K.ABDUL REHIM, J.
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W.P.(C).No.33882 OF 2009
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Dated this the 25th day of November, 2009
J U D G M E N T
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1. Challenge in this writ petition is against proceedings
initiated under the Securitisation and Reconstruction of
Financial Assets and Enforcement of Security Interest Act, 2002
(SARFAESI Act). The petitioner was issued with Ext.P2 notice
proposing sale of the immovable property, which is the secured
asset. According to the petitioner considerable payment has
already been effected. It is submitted that the petitioner is
taking effective steps to sell the property and to pay off the
entire liability, provided the Bank considers ‘One Time
Settlement’ and waiver of interest and expenses to the possible
extent. As per Ext.P1 and P3 letters the petitioner made offers
with respect to the compromise settlement. Grievance of the
petitioner is that the Bank is not acceding to the requests made
therein. The petitioner wants to pursue remedies before the
authorities of the Bank to arrive at ‘One Time Settlement’.
Therefore the limited prayer in this writ petition is only for a
direction to the respondent Bank to consider such requests.
2. Under the above circumstances the writ petition is
W.P.(C).33882/09-E 2
disposed of reserving liberty to the petitioner to pursue remedies
before the respondents in order to arrive at One Time Settlement
or compromise settlement. The respondents are directed to
consider such requests of the petitioner in this regard and to
inform the petitioner about the result thereof.
C.K.ABDUL REHIM, JUDGE.
Okb