IN THE HIGH COURT OF KERALA AT ERNAKULAM
WP(C).No. 23635 of 2008(L)
1. STATE BANK OF TRAVANCORE REP. BY ITS
... Petitioner
2. AUTHORISED OFFICER STATE BANK OF
Vs
1. S.B.T.
... Respondent
For Petitioner :SRI.VINOD KUMAR.C
For Respondent : No Appearance
The Hon'ble MR. Justice ANTONY DOMINIC
Dated :07/08/2008
O R D E R
ANTONY DOMINIC, J
-----------------------------------------------------------
W.P.(C).No.23635/2008
-----------------------------------------------------------
Dated this the 7th day of August, 2008
JUDGMENT
Proceedings under the Securitisation and
Reconstruction of Financial Assets and Security Interests
Act was initiated against the petitioner. Ext.P1 is the notice
issued under Section 13(2) of the Act. It would appear that
subsequently a compromise was discussed between the
parties and the proposal was accepted by the Empowered
Committee of the Bank. Thereafter, by Ext.P2 dated
16.7.2008 the compromise was approved subject to
remittance of Rs.8.75 lakhs on or before 30.8.2008.
2. It is stated that in the meanwhile, by Ext.P3 notice
issued on 8.7.2008, petitioner has been informed that an
application has been made by the Bank for an order under
Section 14 of the Act and that the case is posted to
WP(c).No.23635/2008 2
17.7.2008. It is contending that the petitioner has time till
30.8.2008 to make payment of the compromise amount and
apprehending that in the meanwhile, he may be evicted on
the strength of an order under Section 14 that this writ
petition has been filed.
3. I heard the counsel for the petitioner also.
4. Evidently, in terms of the compromise petitioner
has time till 30.8.2008 and this is clear from Ext.P2. If that
be so, even if in the meanwhile, an order under Section 14
has been obtained by the Bank, petitioner is not liable to be
dispossessed before 30.8.2008.
With the above observation, the writ petition is closed.
ANTONY DOMINIC
JUDGE
vi.
WP(c).No.23635/2008 3