IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.K.ABDUL REHIM THURSDAY, THE 10TH FEBRUARY 2011 / 21ST MAGHA 1932 WP(C).No. 4304 of 2011(K) ---------------------------------------- PETITIONER(S): ------------------------- THRESSIAMMA, AGED 53 YEARS, W/O.JOSEPH, KAVIKUNNEL HOUSE, PERUMBALLOOR P.O., MUVATTUPUZHA. BY ADVS. SRI.AJEESH S.BRITE, SMT.DHRISYA MOHAN. RESPONDENT(S): ---------------------------- 1. FEDERAL BANK LTD, REPRESENTED BY ITS CHIEF MANAGER, REGD.OFFICE AT ALWAYE ERNAKULAM DIST.KERALA. 2. THE AUTHORISED OFFICER, FEDERAL BANK LTD, REGD.OFFICE AT ALWAYE ERNAKULAM DIST.KERALA. 3. THE BRANCH MANAGER, FEDERAL BANK LTD, MUVATTUPUZHA BRANCH, MUVATTUPUZHA P.O., ERNAKULAM DIST. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 10/02/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: Kss C.K.ABDUL REHIM,J. ------------------------------- WP(C).NO. 4304 of 2011 --------------------------------- Dated this the 10th day of February, 2011 JUDGMENT Petitioner is challenging proceedings initiated under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFAESI ACT). It is noticed that the proceedings is only at the stage of issuing demand notice under section 13(2). Going by scheme of the statute, the petitioner has got an effective remedy to file objections against the demand. Learned counsel for the petitioner submits that the petitioner is ready and willing to regularise the account by paying the amounts in default. It is for the petitioner to approach the respondents with such a request in reply to the notice issued under section 13(2). Further the Bank is an obligation to consider the same and to take a decision thereon. Petitioner can avail statutory remedy if he is aggrieved by any such decision. Therefore, the challenge now raised against proceedings could not be entertained. WP(C) .4304/2011 2 2. However, eventhough it is noticed that the period stipulated under section 13(3A) had already been expired, I direct the petitioner to approach the Bank for regularisation of the loan account, making offer for payment of the defaulted amounts. If any such approach is made the respondent shall consider the same and to take a decision thereof without any further delay. The writ petition is dismissed with the above observations. C.K.ABDUL REHIM,JUDGE pmn/ WP(C) .4304/2011 3