IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN MONDAY, THE 24TH OCTOBER 2011 / 2ND KARTHIKA 1933 WP(C).No. 26555 of 2011(T) ----------------------- PETITIONERS: ------------------- 1. K. NAZAR, S/O.C.C. MEMI, SAHAL MANZIL, IRIKKUR.P.O. 2. O.V. KHADEEJA NAZAR, W/O.K.NAZAR, SAHAL MANZIL, IRIKKUR.P.O. 3. C.V. KUNHAMINA, D/O. ABDULLA, CHERIYA VALAPPILAKATH KAROTE, CHOOLIYAD ROAD, IRIKKUR.P.O. BY ADV. SRI.C.K.SREEJITH RESPONDENTS: ----------------------- 1. THE FEDERAL BANK LIMITED, REGISTERED OFFICE, ALWAYE, KERALA, REP. BY ITS MANAGER, PIN - 683 101 2. AUTHORISED OFFICER, FEDERAL BANK LIMITED, CHIEF MANAGER, KANNUR - 670 001. R1 & R2 BY ADV. SRI. PRAVEEN K. JOY, SC, FEDERAL BANK. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 24/10/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: AMG W.P (C) No.26555/2011 APPENDIX PETITIONERS' EXHIBITS EXT.P1 – TRUE COPY OF THE NOTICE AFFIXED ON THE PETITIONERS' PROPERTY RESPONDENTS EXHIBITS NIL TRUE COPY P.A. TO JUDGE AMG S. SIRI JAGAN, J. ------------------------------------------------- W.P.(C) No. 26555 OF 2011 ------------------------------------------------- DATED THIS THE 24th DAY OF OCTOBER, 2011 J U D G M E N T This writ petition filed by the petitioners challenging the proceedings initiated by respondents under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. On 14-10-2011 this court passed the following order: “The learned standing counsel for the bank submits that the personal liability would become barred by limitation on 30-12-2011 and, therefore, unless the petitioners are prepared to pay at least ` 20 lakhs and sign documents acknowledging debt, the bank will not be in a position to extend any indulgence to the petitioners. The learned counsel for the petitioners seeks time.” 2. The learned counsel for the bank submits that petitioner has not paid any amount and has not signed the documents acknowledging liability. 3. Counsel for the petitioner is not present. Therefore I heard the counsel for the respondents. It is settled law that the proceedings under the Act have to be challenged under Section 17 of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 before the Debts W.P.(C) No.26555/2011 -2- Recovery Tribunal. The Supreme Court has time and again frowned upon the High Courts' entertaining writ petition challenging proceedings under the Act. In the above circumstances without prejudice to the right of the petitioner to file an application under Section 17 of Act before the Debts Recovery Tribunal, this writ petition is dismissed. Sd/- S. SIRI JAGAN, JUDGE. AMG True copy P.A to Judge