IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.R.RAMACHANDRA MENON MONDAY, THE 21ST JUNE 2010 / 31ST JYAISTHA 1932 WP(C).No. 18004 of 2010(A) ------------------------------------ PETITIONER(S): ------------------------- 1. A.SHAJAHAN,S/O.ABDUL AZEEZ, JISHAD HOUSE,KOTTIYAM.P.O,KOLLAM. 2. SHAMEENA.A,W/O.SHAJAHAN,JISHAD HOUSE, KOTTIYAM.P.O,KOLLAM. BY ADV. SRI.V.E.ABDUL GAFOOR SRI.A.MOHAMMED SAVAD SRI.R.NIKHIL RESPONDENT(S): ------------------------- 1. THE AUTHORIZED OFFICER,GENERAL MANAGER, INDIAN OVERSEAS BANK,KOLLAM BRANCH, KOLLAM. 2. THE DEBTS RECOVERY TRIBUNAL, (KERALA AND LAKSHADWEEP),ERNAKULAM. ADV. SRI.P.B.SURESH KUMAR, SC,I.O.BANK FOR R-1 THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 21/06/2010, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: P.R.RAMACHANDRA MENON, J -------------------------------------------- WP(C) NO. 18004 OF 2010 -------------------------------------------- Dated this the 21st day of June, 2010 JUDGMENT The grievance of the petitioner is with regard to the steps taken by the respondent Bank resorting to the provisions under the SARFAESI Act for realisation of the amount stated as due under a loan transaction availed for business purpose in the year 2004. 2. The learned counsel appearing for either side submit that pursuant to negotiations in between, the matter has been settled and the petitioner has deposited Rs.10 lakhs; simultaneously issuing a cheque dated 25.06.2010 for the balance amount of Rs.29,56,600/-. 3. In the above circumstance, this Court finds that no further orders are necessary and the Writ Petition is accordingly closed. It is made clear that, if the contents of cheque issued by the petitioner are not realized, the respondent Bank will be at liberty to proceed with further steps in accordance with relevant provisions of law. P.R.RAMACHANDRA MENON JUDGE dnc