IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.K.ABDUL REHIM TUESDAY, THE 8TH SEPTEMBER 2009 / 17TH BHADRA 1931 WP(C).No. 24545 of 2009(K) -------------------------- PETITIONER(S): --------------- T.V.ZAKARIYA, S/O.MOHAMMED, THANDALAMVALAPPIL HOUSE, KOTTAYI POST, TIRUR, MALAPPURAM DISTRICT. BY ADV. SRI.C.M.MOHAMMED IQUABAL RESPONDENT(S): --------------- 1. INDIAN OVERSEAS BANK, TIRUR BRANCH. 2. THE AUTHORISED OFFICER, INDIAN OVERSEAS BANK, REGIONAL OFFICE, KOZHIKODE. 3. KERALA STATE FISHERMEN DEBT RELIEF COMMISSION, THIRUVANANTHAPURAM. ADV. SRI.P.B.SURESH KUMAR, S.C. FOR R1 & 2 THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 08/09/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: C.K.ABDUL REHIM, J. ------------------------------ W.P.(C).No.24545 OF 2009 ------------------------------ Dated this the 8th day of September, 2009 J U D G M E N T ---------------------- 1. The petitioner had availed a loan of Rs.10 lakhs for purchase of fishing net from the 1st respondent Bank. Repayment in the loan account was defaulted allegedly due to loss suffered in business. Now the Bank had intimated proceedings for realisation of the amount against the immovable properties mortgaged to secure the loan, under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act 2002 (SARFAESI Act). Ext.P3 is the notice issued under Section 13(2) of the said Act. Contention of the petitioner is that the petitioner is entitled for a waiver of the arrears due in the loan account by virtue of the provisions contained in a scheme formulated by the State Government for providing debt relief to fishermen. Third respondent is the commission appointed for implementation of the debt relief scheme. Ext.P2 receipt is produced as evidence to prove that the petitioner had already approached the 3rd respondent commission by filing a petition seeking relief under the scheme as early as on 4.3.2009. It is submitted by the petitioner that since many other petitions are pending W.P.(C).24545/09-K 2 consideration before that commission, the petitioner's case will be dealt with only in accordance with the priority in filing the same. In the meanwhile the Bank is pursuing further steps under the provisions of the SARFAESI Act and it is apprehended that the housing property of the petitioner will be taken possession and he will be thrown out. Hence the petitioner seeks directions to the 3rd respondent for consideration and disposal of the application evidenced by Ext.P2 and further directions against Bank for keeping in abeyance the proceedings initiated under the SARFAESI Act till the decision of the 3rd respondent commission. 2. Heard the learned counsel for the petitioner, Standing Counsel for the respondents 1 and 2 and the Government Pleader for the 3rd respondent. The question whether the petitioner is eligible for waiver of the loan amount under the provisions of the debt relief scheme is a matter which is to be decided by the 3rd respondent on the basis of criteria fixed for entitlement of such reliefs. However, the 1st respondent Bank is not at an obligation to keep the proceedings in abeyance, merely because a petition seeking debt relief is pending consideration before the 3rd respondent. Therefore the petitioner cannot claim any relief as a matter of right against the proceedings initiated under the provisions of SARFAESI Act. W.P.(C).24545/09-K 3 3. But considering the entire facts and circumstances of the case and the interest of justice I feel it necessary to direct the respondent Bank to keep in abeyance further steps pursuant to Ext.P3 notice for a reasonable time in order to facilitate the petitioner to move before the 3rd respondent for appropriate reliefs, on condition the petitioner makes payment of a portion of the arrears due in the loan account. Therefore respondents 1 and 2 are directed to keep in abeyance further proceedings pursuant to Ext.P3 notice for a period of four months from today on condition the petitioner pay a sum of Rs.2 lakhs to the Bank on or before 15.10.2009. 4. It is made clear that the petitioner is at liberty to approach the 3rd respondent for an early disposal of the petition submitted by him, as evidenced by Ext.P2 through a petition filed in this regard, along with production of a copy of this Judgment. I find no reason to presume that the said authority will not consider urgency of the situation and refuse entertaining such a petition. Therefore the petitioner is directed to seek appropriate reliefs from the 3rd respondent by taking necessary steps as directed above without any further delay. C.K.ABDUL REHIM, JUDGE. okb