IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN FRIDAY, THE 16TH JANUARY 2009 / 26TH POUSHA 1930 WP(C).No. 20194 of 2008(D) --------------------------------------- PETITIONER(S): ------------------------ SAJITHA K.S., PROPRIETRIX, LSK & CO., ARTEK AUTOMOBILE ROAD, PALARIVATTOM P.O., COCHIN - 25, REPRESENTED BY HER POWER OF ATTORNEY HOLDER, T.K.MASOOD, S/O.KUTTIAMMU, ARTEK, PALARIVATTOM, COCHIN-25. BY ADV. SRI.ANCHAL C.VIJAYAN SMT.MINI.S.DAS RESPONDENT(S): ------------------------ VIJAYA BANK, M.G.ROAD, ERNAKULAM, KOCHI-16, REPRESENTED BY ITS PRINCIPAL OFFICER AND BRANCH MANAGER. ADV. SRI. D.KRISHNA PRASAD FOR R1 SMT.O.K.SANTHA FOR R1 THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 16/01/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: W.P.(C) NO.20194/2008 APPENDIX PETITIONERS EXHIBITS P1:- COPY OF THE ORDER DT. 2.3.07 IN CRL.MP.NO.1391/06 OF THE CHIEF JUDICIAL MAGISTRATE'S COURT, ERNAKULAM. P2:- COPY OF THE LETTER DT. 21.4.07 ISSUED BY THE PETITIONER ALONG WITH REMITTANCE OF PAYMENT . P3:- COPY OF THE ORDER DT. 28.5.08 IN CRL.RP.NO.1537/07 OF THIS HONOURABLE COURT. P4:- COPY OF THE COMMUNICATION OF THE RESPONDENT DT. 18.6.08. P5:- COPY OF THE COMMUNICATION OF THE RESPONDENT DT. 2.9.04. P6:- COPY OF THE COMMUNICATION OF THE RESPONDENT DT. 2.9.04. P7:- COPY OF THE LETTER DT. 26.6.08 ISSUED TO THE RESPONDENT. /TRUE COPY/ P.S. TO JUDGE tss THOTTATHIL B. RADHAKRISHNAN, J. = = = = = = = = = = = = = = = = = = = = = = = = W.P.(C).No.20194 of 2008-D = = = = = = = = = = = = = = = = = = = = = = = = Dated this the 16th day of January, 2009. JUDGMENT The petitioner availed a cash credit facility for a business purpose. She also availed another facility by way of a term loan. On default, proceedings under the SARFAESI Act were initiated. Even according to the petitioner, some time in 2004, the total outstandings was around Rs.28 lacs. Though she says that she paid an amount of Rs.4 lacs thereafter, the balance is now grown to be an amount of around Rs.40 lacs. All that the petitioner seeks is for a statement of accounts. The learned counsel for the bank has with him the acknowledgment of the petitioner for having been given the copy of the accounts statement. The property has already been taken over on dispossession with the aid of order issued under Section 14 of the SARFAESI Act. WP(C)20194/2008 -: 2 :- There is no legal infirmity or jurisdictional error in the bank proceeding to sell or otherwise deal with the security interest. Yet, it is directed that if the petitioner deposits an amount of Rs.25 lacs within four weeks, the bank will grant the petitioner two weeks' time therefrom to pay off the remaining outstandings and avoid proceedings. The writ petition is ordered accordingly. THOTTATHIL B. RADHAKRISHNAN, JUDGE. Sha/220109