IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE ANTONY DOMINIC FRIDAY, THE 11TH JANUARY 2008 / 21ST POUSHA 1929 WP(C).No. 38025 of 2007(B) -------------------------- PETITIONER: ------------ AJITHKUMAR K.S., S/O.SAHADEVAN, AGED 46 YEARS, KOYIPPILLY HOUSE, PALLIPORT P.O., ERNAKULAM DISTRICT. BY ADV. SRI.SHOBY K.FRANCIS RESPONDENTS: ------------- 1. FEDERAL BANK LIMITED, REGISTERED OFFICE, ALWAYE, KERALA, REPRESENTED BY ITS CHAIRMAN. 2. AUTHORIZED OFFICER CUM CHIEF MANAGER, (UNDER SRFAESI ACT), FEDERAL BANK, REGIONAL OFFICE FEDERAL TOWERS, MARINE DRIVE, KOCHI-31. 3. SENIOR MANAGER, FEDERAL BANK LTD., NORTH PARUR BRANCH, ERNAKULAM, 683 513. BY ADV. SRI.MOHAN JACOB GEORGE, SC. SMT.P.V.PARVATHI SMT.REENA THOMAS SRI.L.RAM MOHAN THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 11/01/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: ANTONY DOMINIC, J. ------------------------------------ W.P.(C) 38025 of 2007 ------------------------------------- Dated: January 11, 2008 JUDGMENT Petitioner is a defaulter to the respondent bank. On receipt of notice under sec.13(2) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, reply has been given as per Exts.P4 and P5. It is stated that though discussions also followed, the bank has not taken any decision on the representations. While so, the bank has initiated further proceedings and issued Ext.P7 notice under sec.13(4) of the Act. It is challenging this proceedings that the writ petition has been filed. 2. The Standing Counsel appearing for the bank submits that the bank is willing to reconsider the matter provided the petitioner proves his bona fides by making payment. This offer from the bank is reasonable and therefore it would be to the advantage of the petitioner if he seizes of this opportunity. 3. Having regard to the fact that about Rs.21 lakhs is the amount that is due to the bank, I direct that the petitioner should WP(C) 38025/2007 Page numbers remit Rs.1 lakh within three weeks from today and thereafter the bank will reconsider the matter leading to the issuance of Ext.P7 notice. Writ petition is disposed of as above. ANTONY DOMINIC, JUDGE mt/-