IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.R.RAMACHANDRA MENON THURSDAY, THE 21ST MAY 2009 / 31ST VAISAKHA 1931 WP(C).No. 8356 of 2009(L) ------------------------- PETITIONERS: -------------------- 1. E.M.YOUSUF, S/O.MUHAMMED, ENCHAKKATTIL HOUSE, NADACKAL P.O., ERATTUPETTA, KOTTAYAM DISTRICT. 2. SMT.RAJEENA YOUSUF, W/O. E.M.YOUSUF, ENCHAKKATTIL HOUSE, NADACKAL P.O., ERATTUPETTA, KOTTAYAM DISTRICT. BY ADV. MR. H. HAMZA ROWTHER ADV. MR. V.K.PEERMOHAMED KHAN RESPONDENT: --------------------- THE AUTHORIZED OFFICER, THE GENERAL MANAGER, MEENACHIL EAST URBAN CO-OPERATIVE BANK LTD., POONJAR, POONJAR THEKKEKARA P.O., KOTTAYAM DISTRICT. BY ADV. MR . SHAJI THOMAS PORKKATTIL ADV. MR. .T.V.VINU THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 21/05/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: WP(C).No. 8356 of 2009(L) APPENDIX PETITIONERS' EXHIBITS: EXT.P1 : TRUE COPY OF THE SALE DEED DATED 01.01.1998 EXECUTED IN FAVOUR OR THE 2ND PETITIONER AND REGISTERED AS 9/98 OF POONJAR SRO. EXT.P2 : COPY OF THE CERTIFICATE ISSUED BY THE VILLAGE OFFICER, ERATTUPETTA STATING THAT THE PROPERTIES OF THE 2ND PETITIONER ARE THE AGRICULTURAL PROPERTIES. EXT.P3 : COPY OF THE POSEESSION NOTICE ISSUED BY THE RESPONDENT UNDER SECTION 13(4) OF THE SARFEASI ACT, 2002. RESPONDENT'S EXHIBITS: EXT. R1(a) : TRUE PHOTOCOPY OF THE POSSESSION CERTIFICATE ISSUED BY THE VILLAGE OFFICER, ERATTUPETTA DATED 12.03.2009. /TRUE COPY/ P.R. RAMACHANDRA MENON, J. ........................................................................ W.P.(C) No. 8356 OF 2009 ......................................................................... Dated this the 21st May, 2009 J U D G M E N T The petitioners had availed a loan of Rs. Seven lakhs from the respondent-Bank in the year 2006. However, the petitioners could not effect the repayment promptly, which made the respondent-Bank to proceed against the petitioners and their assets under the relevant provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 , which is sought to be intercepted by filing this Writ Petition. 2. When the above matter was admitted by this Court on 16.03.2009, an interim order was granted on condition that the petitioners paid a sum of Rs. One lakh within a specified time. It is seen that the said interim order was extended further on 23.03.2009, on condition that the petitioners deposited a sum of Rs. Two lakhs per month on or before the last working day of W.P.(C) No. 8356 OF 2009 2 every month commencing from April, 2009. It was also made clear that if there occurred any default in repayment of the monthly instalments, the benefit of the said order would stand recalled automatically. 3. Heard the learned counsel appearing for the respondent Bank as well. In view of the interim order passed by this Court, nothing further remains to be considered and it is only fit and proper to have the matter closed, making the interim order absolute. The Writ Petition is disposed of accordingly. P.R. RAMACHANDRA MENON, JUDGE. lk