IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.K.ABDUL REHIM TUESDAY, THE 15TH SEPTEMBER 2009 / 24TH BHADRA 1931 WP(C).No. 5461 of 2009(C) ------------------------- CMP.191/2009 of C.J.M.,KOTTAYAM .................... PETITIONER(S): --------------- C.A. MADHUSOODANAN, CHELLAPPALLIL HOUSE, KUDAVECHOOR.P.O, KOTTAYAM DISTRICT. BY ADV. SRI.A.JAYASANKAR SRI.MANU GOVIND RESPONDENT(S): --------------- STATE BANK OF TRAVANCORE, REPRESENTED BY ITS ZONAL MANAGER, ZONAL OFFICE, KOTTAYAM. ADV. SRI.R.S.KALKURA, S.C. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 15/09/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: C.K.ABDUL REHIM, J. ------------------------------ W.P.(C).No.5461 OF 2009 ------------------------------ Dated this the 15th day of September, 2009 J U D G M E N T ---------------------- 1. Petitioner is challenging the proceedings initiated by the respondent Bank, under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act 2002 (SARFAESI Act) against secured assets, for realisation of arrears in the loan account availed by him. This Court through an interim order dt: 19.2.2009 granted stay against all further distress actions on condition of the petitioner remitting an amount of Rs.50,000/- within 12 days thereof. It is reported that the petitioner has not complied with the condition stipulated in the interim order. Consequently the interim order stands vacated. 2. Since the petitioner has got effective alternate remedy under the provisions of the SARFAESI Act, if he is aggrieved by the proceedings initiated under that Act, no interference is called for in this writ petition. Hence the writ petition is accordingly dismissed without prejudice to the rights of the petitioner to seek appellate remedy provided under the Act, if sustainable under law. C.K.ABDUL REHIM, JUDGE. okb