IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.K.ABDUL REHIM WEDNESDAY, THE 22ND JUNE 2011 / 1ST ASHADHA 1933 WP(C).No. 7850 of 2011(E) ------------------------- PETITIONER(S): --------------- 1. SIVADAS C, AGED 55 YEARS, KIZHIPILLIL HOUSE, CHEMBUMUKKU, KAKKANAD P.O., KOCHI-30. 2. VIJI C.S, D/O.C.SIVADAS, AGED 30 YEARS, KIZHIPILLIL HOUSE, CHEMBUMUKKU, KAKKANAD P.O., KOCHI-30 BY ADV. SRI.BABU JOSEPH KURUVATHAZHA SRI.K.I.SAGEER RESPONDENT(S): --------------- 1. ALLAHABAD BANK, ERNAKULAM BRANCH, OLD THEVARA ROAD, NEAR SARAF HOSPITAL, RAVIPURAM, KOCHI-15, REP.BY ITS CHIEF MANAGER, 2. THE CHIEF MANAGER & AUTHORISED OFFICER UNDER ACT 54 OF 2002 (CENTRAL), ALLAHABAD BANK, ERNAKULAM BRANCH, OLD THEVARA ROAD, NEAR SARAF HOSPITAL, RAVIPURAM, KOCHI-15 BY ADV. SRI.VIVEK VARGHESE P.J. FOR R1-R2 THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 22/06/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: ami/ C.K.ABDUL REHIM, J. ------------------------------- W.P.(C).No.7850 of 2011 ------------------------------- Dated this the 22nd day of June, 2011. J U D G M E N T In view of the statutory remedy provided under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act), this Court was not inclined to entertain the writ petition. However, an interim stay was granted against confirmation of sale if any takes place on the basis of Ext.P1, subject to condition of the petitioner remitting a sum of Rs.5 lakhs within 3 weeks from 14.3.2011. Subsequently, the petitioner had filed I.A.No.6588 of 2011 seeking extension of the time stipulated for compliance of the condition. It is brought to the notice of this Court that the property in question was already sold for a sum of Rs.26,05,000/- on 15.3.2011 and the bidder has already deposited 25% of the amount. It was also brought to the notice of this Court that the petitioner had failed to comply with the condition stipulated in the interim order passed by the Debt Recovery Tribunal. 2 W.P.(C).No.7850 of 2011 2. Under such circumstances, this Court declined to extend the period stipulated for compliance of the interim order. However, a further chance was given directing the petitioner to remit a sum of Rs.20 lakhs within one month from 12.4.2011. 3. It is submitted by learned counsel appearing for the respondent Bank that the stipulations has not been complied with. Under such circumstances, I am not inclined to entertain the writ petition any further. Accordingly, the writ petition is dismissed. C.K.ABDUL REHIM, Judge ami/