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Smt. Mercy George vs State Bank Of Travancore on 27 March, 2008

Kerala High Court
Smt. Mercy George vs State Bank Of Travancore on 27 March, 2008
       

  

  

 
 
  IN THE HIGH COURT OF KERALA AT ERNAKULAM

WP(C) No. 34086 of 2007(G)


1. SMT. MERCY GEORGE, W/O. K.T.GEORGE,
                      ...  Petitioner

                        Vs



1. STATE BANK OF TRAVANCORE,
                       ...       Respondent

2. MASTER EDWIN (MINOR, AGED 11 YRS),

3. MASTER ALWIN, MINOR, AGED 6 YEARS,

4. SRI. K.B.NAIK, S/O. NARAYANA KESAVA

5. SMT. ROSY, W/O. MR. JOSE,

6. SRI. PRABHAKARAN NAIR C.K., S/O.

                For Petitioner  :SRI.ABRAHAM MATHEW (VETTOOR)

                For Respondent  :SRI.SATHISH NINAN

The Hon'ble MR. Justice ANTONY DOMINIC

 Dated :27/03/2008

 O R D E R
                          ANTONY DOMINIC, J.

              ------------------------------------

                        W.P.(C) 34086 of 2007

             -------------------------------------

                        Dated: MARCH 27, 2008

                              JUDGMENT

In this writ petition the challenge is against the securitisation

proceedings.

2. Interim orders were passed on 24.1.2008 and 29.1.2008

and the petitioner was given freedom to buy the property by

payment of the reserve price. It is now submitted by the standing

counsel for the bank that the petitioner did not avail of the

opportunities thus granted by the aforesaid orders. According to

the standing counsel, on the other hand, petitioner submitted a

proposal for settlement of the liability.

3. Be that as it may, admittedly the firm, of which the

petitioner was also a partner, is a defaulter and therefore the bank

is entitled to initiate proceedings under the Securitization and

Reconstruction of Financial Assets and Enforcement of Security

Interest Act, 2002 and it is for the bank to decide which property is

WP(C) 34086/07
Page numbers

to be proceeded against. I do not find any illegality calling for

interference in a writ petition under Art.226 of the Constitution of

India.

Writ petition fails and will stand dismissed.

ANTONY DOMINIC, JUDGE

mt/-

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