IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN MONDAY, THE 30TH MARCH 2009 / 9TH CHAITHRA 1931 WP(C).No. 10138 of 2009(J) -------------------------- PETITIONER(S): --------------- 1. B.REVAMMA, AGED 53 YEARS, WIFE OF GOPALAKRISHNA PILLAI, BATTARAKASWARATHU, KIDANGAYAM NORTH, PATHARAM P.O., SASTHAM KOTTA, KOLLAM. 2. GOPALAKRISHNA PILLAI, AGED 63 YEARS, S/O.JANARDHANAN PILLAI, BATTARAKASWARATHU, KIDANGAYAM NORTH, PATHARAM P.O., SASTHAM KOTTA, KOLLAM. BY ADV. SMT.KOCHUMOL KODUVATH RESPONDENT(S): --------------- THE KETALA STATE CO-OPERATIVE BANK LTD., KOLLAM BRANCH, KERALA WATER AUTHORITY BUILDINGS, ANANDAVALLEESWARAM, KOLLAM-691013. ADV. SRI.NAGARAJ NARAYANAN,SC,K.S.CO-OP BANK THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 30/03/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: THOTTATHIL B.RADHAKRISHNAN, J. ------------------------------------------- W.P(C).No.10138 OF 2009 ------------------------------------------- Dated this the 30th day of March, 2009 JUDGMENT The petitioners suffered an arbitration award in April, 2002. They carried a revision against it to the Tribunal. That also ended in March, 2003. Recovery of the amounts due under the award is yet due. The bank has, therefore, requested the petitioners to ascertain the total outstandings and pay it off or otherwise face proceedings under the SARFAESI Act which may be initiated. Such a notice is only a reminder to pay off the outstandings. There is no statutory action either under Section 13(2) or under Section 13(4) as of now. The magnanimity of the bank is only to provide the petitioners further time. But the petitioners are trying to drag it on. The bank cannot be precluded from initiating distress action. As against a letter of February, 2009, the petitioners cannot now say that they need further time to seek the benefit of the circular which may be in force since the cut off date for the applicability of such circular is 31.3.2009 as of now. In this premise, this writ petition is WPC.10138/09 Page numbers dismissed without prejudice to the petitioners' right to enjoy any benefit that the bank may extend for repayment of the total outstandings by way of instalments or otherwise. Sd/- THOTTATHIL B.RADHAKRISHNAN, Judge. kkb.31/3.