IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HON'BLE THE ACTING CHIEF JUSTICE MR.K.S.RADHAKRISHNAN & THE HONOURABLE MR. JUSTICE M.N.KRISHNAN FRIDAY, THE 9TH MARCH 2007 / 18TH PHALGUNA 1928 WA.No. 636 of 2007() ------------------------ (AGAINST THE JUDGEMENT IN WPC.30511/2006 Dated 30/01/2007) .................... APPELLANTS/PETITIONERS: ------------------------------ 1. JAYAKRISHNAN.K.S., S/O.LATE SIVASANKARAN NAIR, AGED 45 YEARS, RESIDING AT NACHATTU HOUSE, KAKKAZHAM, ALAPPUZHA. 2. RAJASREE.R.S., W/O.JAYAKRISHNAN.K.S., AGED 38 YEARS, RESIDING AT NACHATTU HOUSE, KAKKAZHAM, ALAPPUZHA. BY ADV. SRI.K.S.HARIHARAPUTHRAN SRI.GEORGE MATHEW RESPONDENTS: ----------------- 1. M/S.STATE BANK OF INDIA, LOCAL HEAD OFFICE, S.S.KOVIL STREET, THIRUVANANTHAPURAM, REPRESENTED BY ITS GENERAL MANAGER. 2. M/S.STATE BANK OF INDIA, BEACH BRANCH, ALAPPUZHA, REPRESENTED BY ITS ASST.GENERAL MANAGER. 3. THE SETTLEMENT ADVISORY COMMITTEE, STATE BANK OF INDIA, LOCAL HEAD OFFICE, S.S.KOVIL STREET, THIRUVANANTHAPURAM. BY STANDING COUSNEL FOR SBI.GEORGE THOMAS MEVADA. THIS WRIT APPEAL HAVING COME UP FOR ADMISSION ON 09/03/2007, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: K.S.RADHAKRISHNAN,Ag.C.J & M.N.KRISHNAN,J. ------------------------------------------------------ W.A.NO. 636 OF 2007 ------------------------------------------------------ Dated this the 9th day of March, 2007 J U D G M E N T Radhakrishnan, Ag.C.J. We find no error in the judgment of the learned Single Judge especially when the appellants/petitioners had not responded to the notice under Section 13(2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act. Learned Single Judge has taken the view that if the petitioners wipe off the entire outstanding and provide appropriate scheme for liquidating the commercial loans, the Bank would consider the O.T.S. and also permit the petitioners to have private sale with the intervention of the Bank. 2. We find no error in the reasoning adopted by the learned Single Judge. All the same, the time for payment is extended up to 31st March, 2007,and on failure to pay W.A.NO. 636 OF 2007 :-2-: the amount, the Bank will take further coercive steps. The writ appeal is dismissed. K.S.RADHAKRISHNAN, Acting Chief Justice M.N.KRISHNAN, Judge Mbs/ W.A.NO. 636 OF 2007 :-3-: K.THANKAPPAN, J --------------------------------- --------- Crl.Appeal NO. OF 2001 ------------------------------ ------------ J U D G M E N T W.A.NO. 636 OF 2007 :-4-: DATED:13-02-2007