IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN MONDAY, THE 17TH OCTOBER 2011 / 25TH ASWINA 1933 WP(C).No. 23881 of 2011(I) -------------------------- PETITIONER(S): ---------------------- K.NARAYANAN, S/O.KRISHNAN, DAYARANKANDI HOUSE, NEAR CHAL BEACH, AZHIKODE PO, KANNUR 670 009. BY ADV. SMT.SADHANA KUMARI ESWARI RESPONDENT(S): ------------------------ 1. THE AUTHORIZED OFFICER FEDERAL BANK LTD, REGIONAL OFFICE FEDERAL TOWERS, MAVOOR ROAD, KOZHIKODE 673 016. 2. THE FEDERAL BANK LTD VALAPATTANAM, VELAPATTANAM, HIGHWAY, CHIRAKKAL PO, PUTHIYATHERA KANNUR 670 011, REP BY ITS CHEIF MANAGER. R1-2 BY ADVS. SRI.MOHAN JACOB GEORGE SMT.P.V.PARVATHI SMT.REENA THOMAS SRI.L.RAM MOHAN THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 17/10/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: vk WP(C).No. 23881 of 2011(I) -------------------------------------- APPENDIX ----------------- PETITIONER'S EXHIBITS ------------------------------------- EXT.P1. COPY OF THE PAY IN SLIP DT.9.3.2011. EXT.P2. COPY OF THE BANK STATEMENT OF 28.2.2011. EXT.P3. COPY OF THE BANK STATEMENT OF 11.12.2010 EXT.P4. TRUE COPY OF THE POSSESSION NOTICE DT.11.5.2011. RESPONDANTS'S EXHIBITS :NILl ---------------------------------------- / TRUE COPY / P A. TO JUDGE VK S. SIRI JAGAN, J. - - - - - - - - - - - - - - - - - - - - - - - W.P.(C)No.23881 of 2011 - - - - - - - - - - - - - - - - - - - - - - - Dated this the 17th day of October, 2011 J U D G M E N T The petitioner challenges proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act). On 02.09.2011, I passed the following interim order: “Notice by speed post. There would be an interim order as prayed for, for one month on condition that the petitioner pays Rs.3 lakhs within on month.” 2. The learned counsel for the Bank submits that amount as directed has not been paid. 3. It is settled law that proceedings under the SARFAESI Act have to be challenged before the Debts Recovery Tribunal under Section 17 of the Act. The Hon'ble Supreme Court has repeatedly held that ordinarily the High Courts shall not interfere with the proceedings under the SARFAESI Act in exercise of powers under Article 226 of the Constitution of India. In the above circumstances, this W.P.(C)No.23881 of 2011 -2- writ petition is dismissed without prejudice to the right of the petitioner to challenge the proceedings under Section 17 of the Act before the Debts Recovery Tribunal, if they can do so at this point of time. Sd/- S. SIRI JAGAN JUDGE //True copy// P.A. TO JUDGE shg/