IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.K.ABDUL REHIM FRIDAY, THE 3RD SEPTEMBER 2010 / 12TH BHADRA 1932 WP(C).No. 27119 of 2010(L) -------------------------- OA.101/2010 of DEBT RECOVERY TRIBUNAL, ERNAKULAM .................... PETITIONER(S): --------------- M.A.IBRAHIM, AGED 54, SON OF MR.ABDULKADER, MANAPURATH HOUSE, NAYARAMBALAM (PO), ERNAKULAM DISTRICT, PIN-682 509. BY ADV. SRI.SHAJI CHIRAYATH SMT.JIJI M. VARKEY RESPONDENT(S): --------------- 1. CENTRAL BANK OF INDIA, CHANDER MUKHI, NARIMAN POINT, MUMBAI, PIN-400 021, REPRESENTED BY ITS MANAGING DIRECTOR. 2. BRANCH MANAGER, CENTRAL BANK OF INDIA, PERUMANOOR BRANCH, CHAKIATH CHAMBERS, RAVIPURAM, M.G.ROAD, ERNAKULAM DISTRICT, PIN-682 016. 3. AUTHORISED OFFICER, CENTRAL BANK OF INDIA, REGIONAL OFFICE, IST FLOOR, METRO PALACE, OPP.ERNAKULAM TOWN RAILWAY STATION, ERNAKULAM DISTRICT, PIN-682 018. 4. UNION OF INDIA, REPRESENTED BY ITS SECRETARY, MINISTRY OF FINANCE, GOVERNMENT OF INDIA, NEW DELHI. STANDING COUNSEL MR. GEORGE CHERIAN THIRUVALLA ASGE MR. T.P.M. IBRAHIM KHAN THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 03/09/2010, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: C.K. ABDUL REHIM, J ------------------------------------ WP(C) NO. 27119 OF 2010 -------------------------------------------- Dated this the 3rd day of September, 2010 JUDGMENT Challenge in this Writ Petition is against proceedings initiated under the provisions of the SARFAESI Act. Consequent to default committed in repayments in an overdraft facility availed by the petitioner from the respondent Bank, the secured assets have been proceeded against, pursuant to Ext.P2 notice issued under Section 13(4) of the Act. The respondent Bank had proceeded with steps for sale of the secured assets. Ext.P4 is the notice issued proclaiming the sale on 30.08.2010. It is submitted by both sides that the sale has not taken place on that day. 2. Contention of the petitioner is that an O.A. filed by the Bank for recovering arrears is pending disposal before the Debt Recovery Tribunal. Ext.P3 is the copy of the plaint in that O.A. (O.A. 101/2010). It is submitted by learned counsel appearing for the Petitioner that there is yet another housing loan availed by the petitioner for which also an O.A. filed by the Bank is pending disposal (O.A. 72/2010). It is further submitted that, the petitioner is ready and willing to regularise arrears in the above said housing loan. Learned standing counsel appearing for the respondent Bank is not favouring any such proposal. 3. However, it is evident that huge amounts are due under the 2 WP(C) No. 27119/2010 overdraft facility. The dispute now raised by the petitioner against the proceedings initiated under the SARFAESI Act could not be considered on its merits and adjudicated upon in this Writ Petition, in view of the pendency of the matter before the Debt Recovery Tribunal, and also in view of the statutory remedy available to the petitioner under Section 17 of the SARFAESI Act. If the petitioner has got any valid contentions against the steps now being pursued under the SARFAESI Act, it is for him to seek appropriate interim relief from the Tribunal for getting it stayed till decision of the matter by the Debt Recovery Tribunal. I don't find any reason to assume that if the petitioner makes any such approach before the Debt Recovery Tribunal, the same will not be considered and disposed of by that Tribunal. In the above circumstances, leaving the remedies if any available to the petitioner before the Debt Recovery Tribunal, this Writ Petition is dismissed. C.K. ABDUL REHIM JUDGE dnc