IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S. SIRI JAGAN TUESDAY, THE 27TH SEPTEMBER 2011 / 5TH ASWINA 1933 WP(C).No. 23095 of 2011(J) ----- ------------------------------- PETITIONER(S): ----------------- 1. CLARAMMA DEVASSIA, PROPRIETRIX, PLAMOOTTIL SANIWARES, VETTOOR BUILDINGS, ETTUMANOOR P.O., KOTTAYAM DISTRICT, PIN-686 631, REPRESENTED BY POWER OF ATTORNEY, RAJESH DEVASSIA, PLAMOOTTIL HOUSE, ETTUMANOOR P.O. KOTTAYAM DISTRICT, PIN-686 631. 2. RAJESH DEVASSIA, PROPRIETOR, PLAMOOTTIL PLASTICS, VETTOOR BUILDINGS, ETTUMANOOR P.O., KOTTAYAM DISTRICT, PIN-686 631. BY ADV. SRI.K.M.VARGHESE RESPONDENTS: ------------------------ 1. AUTHORIZED OFFICER, INDUS IND BANK LTD., 40/8399, 8044, GOWRINARAYAN, M.G.ROAD, ERNAKULAM DISTRICT, PIN-682 035. 2.THE INDUS IND BANK LTD, 0186, REGENCY SQUARE, K.K.ROAD, COLLECTORATE P.O., KOTTAYAM, PIN-686 002, REPRESENTED BY ITS BRANCH MANAGER. ADVs.SRI. SATHISH NINAN FOR R1-2 SRI. SANTHOSH MATHEW FOR R1-2 SRI. ARUN THOMAS FOR R1-2 SRI. JENNIS STEPHEN FOR R1-2 THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 27/09/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: SCL WP(C).No. 23095 of 2011(J) APPENDIX PETITIONER'S EXHIBITS EXHIBIT P1- TRUE COPY OF THE S.A.NO.53 OF 2008 ON THE FILE OF THE DEBT RECOVERY TRIBUNAL, ERNAKULAM. EXHIBIT P2- TRUE COPY OF THE I.A.NO.480 OF 2008 IN S.A.NO.53 OF 2008 ON THE FILE OF THE DEBT RECOVERY TRIBUNAL, ERNAKULAM. EXHIBIT P3- TRUE COPY OF THE COUNTER AFFIDAVIT DATED 12.5.2008 IN IA.NO.480 OF 2008 IN S.A.NO.53 OF 2008. EXHIBIT P4- TRUE COPY OF THE WRITTEN STATEMENT DATED 12.5.2008 IN S.A.NO.53 OF 2008 ON THE FILE OF THE DEBT RECOVERY TRIBUNAL, ERNAKULAM. EXHIBIT P5- TRUE COPY OF THE WRITTEN STATEMENT DATED 16.7.2011 FILED IN O.A.NO.380 OF 2010. EXHIBIT P6- TRUE COPY OF THE WRITTEN STATEMENT DATED 16.7.2011 FILED IN O.A.NO.381 OF 2010. EXHIBIT P7- TRUE COPY OF THE NOTICE ISSUED FROM CHIEF JUDICIAL MAGISTRATE COURT, KOTTAYAM CONTAINING THE POSTING DATED ON 29.6.2011. EXHIBIT P8- TRUE COPY OF THE C.M.P.NO. 1208 OF 2011 DATED 6.6.2011 ISSUED FROM THE CHIEF JUDICIAL MAGISTRATE COURT, KOTTAYAM. EXHIBIT P9- TRUE COPY OF THE LETTER DATED 1.8.2011 SENT BY THE PETITIONERS TO THE RESPONDENT NO.1. EXHIBIT P10- TRUE COPY OF THE PROPOSAL FOR SETTLEMENT DATED 1.8.2011 SENT TO THE RESPONDENTS. EXHIBIT P11- TRUE COPY OF THE ACKNOWLEDGEMENT DUE DATED 4.8.2011 IN RESPECT OF RESPONDENT NO.1. EXHIBIT P12- TRUE COPY OF THE SECURITIZATION APPLICATION DATED 5.9.2011 RETURNED BY THE DEBT RECOVERY TRIBUNAL, ERNAKULAM. RESPONDANTS'S EXHIBITS: NIL /TRUE COPY/ PA TO JUDGE SCL S. SIRI JAGAN, J. ------------------------------------------- W.P.(C) No.23095 OF 2011 ---------------------------------------------- Dated this the 27th day of September, 2011 JUDGMENT The petitioners challenge proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act initiated by the respondents for recovery of loan amounts due from the petitioners to the respondents. The petitioners now submit that the petitioners have filed Ext.P12 securitisation application before the Debt Recovery Tribunal and they may be permitted to pursue the same. Accordingly, the writ petition is dismissed without prejudice to the right of the petitioners to pursue Ext.P12 securitisation application before the Debt Recovery Tribunal appropriately. S. SIRI JAGAN, JUDGE acd