IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.K.ABDUL REHIM WEDNESDAY, THE 20TH OCTOBER 2010 / 28TH ASWINA 1932 WP(C).No. 32058 of 2010(F) -------------------------- PETITIONER: ------------------ SANTHOSH KUMAR.R.S., S/O.SADASIVAN, AGED 37 YEARS, HOUSE OF DIVINE, ALUMUKKU, POOVACHAL P.O., THIRUVANANTHAPURAM- 695575. BY ADVS. SRI.SREEKANTH S.NAIR SMT.M.M.FATHIMA JALINA RESPONDENT: -------------------- THE AUTHORISED OFFICER, CENTRAL BANK OF INDIA, REGIONAL OFFICE, P.B.NO.98, GOPAL BUILDINGS, THYVILA ROAD, THIRUVANANTHAPURAM- 695001. BY SRI.GEORGE CHERIAN THIRUVALLA, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 20/10/2010, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: VK C.K. ABDUL REHIM, J ------------------------------ WP(C) NO. 32058 OF 2010 ------------------------------------- Dated this the 20th day of October, 2010 JUDGMENT Challenge in this Writ Petition is against Ext.P2 notice issued under Section 13 (2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act). Going by the scheme of the statute, the petitioner has got an effective remedy for objecting the demand. If the petitioner submits any objections/representations against the demand notice issued under Section 13 (2), the respondent Bank is at an obligation to consider the same and to take a decision thereof. According to the petitioner, regular payment of monthly instalments fell into arrears only because of some unforeseen circumstances and that he is ready to regularise account by paying the defaulted amounts. It is stated that inspite of such offer made by the petitioner the Bank is 2 WP(C) No. 32058/2010 proceeding with further steps against the property, which is the secured asset. 2. Having considered the statutory provisions as stated above, I am of the opinion that the petitioner can be relegated to the respondent Bank for seeking appropriate relief. If the petitioner files any objection/representation against Ext.P2 demand before the respondent, within a period of two weeks from today, the same shall be considered by the respondent and a decision thereof shall be intimated to the petitioner. Needless to say that request if any made by the petitioner to permit regularisation of the account by payment of defaulted amounts shall be considered by the Bank and decision thereof shall be taken at the earliest. 3. Further proceedings pursuant to Ext.P2 notice shall not be proceeded till a decision is taken in this regard and intimated to the petitioner. C.K. ABDUL REHIM JUDGE dnc