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.
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W.P.(C) 34086 of 2007
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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/-