IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.K.ABDUL REHIM THURSDAY, THE 24TH FEBRUARY 2011 / 5TH PHALGUNA 1932 WP(C).No. 5037 of 2011(D) --------------------------------------- PETITIONER(S): ----------------------- CHANDRAN. K, S/O.GOVINDAN MANIYANI, KORAVAMBARA HOUSE, SANKARAMPADY P.O., KASARAGOD. BY ADV. SRI.S.JIJI RESPONDENT(S): -------------------------- 1. THE KASARGOD DISTRICT CO-OPERATIVE BANK LTD., HEAD OFFICE, KASARAGOD, REPRESENTED BY ITS GENERAL MANAGER, PIN-671 121. 2. THE AUTHORISED OFFICER UNDER SARFAESI ACT, THE KASARGOD DISTRICT CO-OPERATIVE BANK LTD., HEAD OFFICE, KASARAGOD, PIN-671 121. BY ADV. SRI.M.SASINDRAN, SC. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 24/02/2011,THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: rs WP(C).No. 5037 of 2011(D) APPENDIX PETITIONER'S EXHIBITS: EXT.P1: COPY OF THE NOTICE DATED 08/11/2010 ISSUED BY THE 2ND RESPONDENT. EXT.P2: COPY OF THE REPRESENTATION SUBMITTED BY THE PETITIONER DATED 30/11/2010. RESPONDENT'S EXHIBITS:- NIL. //TRUE COPY// P.A. TO JUDGE rs C.K.ABDUL REHIM, J. ------------------------------- W.P.(C).No. 5037 of 2011 ------------------------------- Dated this the 24th day of February, 2011. J U D G M E N T Challenge in this writ petition is against the proceedings initiated under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act). It is noticed that the proceedings is only at the stage of issuing demand notice under section 13(2) of the Act. Ext.P1 notice is issued in this regard dt. 8.11.2010. According to the petitioner, he had submitted Ext.P2 objections to Ext.P1 notice, on 30.11.2010. 2. Going by the scheme of the statute it is evident that on receipt of demand for payment issued under section 13 (2), the petitioner is entitled to raise objections and if any such objection is received, the respondent Bank is under an obligation to consider the same and to issue reply to the debtor/ guarantor. It is noticed that if there is any further grievance, the petitioner will be at liberty to invoke remedies 2 W.P.(C).No. 5037 of 2011 as provided under section 17(1) against steps if any taken under Section 13(4). Under the above circumstances, I am of the view that it is highly premature for this Court to entertain this writ petition. 3. Accordingly, this writ petition is dismissed without prejudice to rights if any available to the petitioner under the provisions of the statute. However, the respondents are directed to consider and take a decision on Ext.P2, if it is received by the concerned authority as alleged in this writ petition. C.K.ABDUL REHIM, Judge ami/