IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.K.ABDUL REHIM FRIDAY, THE 27TH MAY 2011 / 6TH JYAISHTA 1933 WP(C).No. 9741 of 2011(P) ------------------------- PETITIONER(S): --------------- BINOJ.N., MANAGING PARTNER, BINOJ BHAVAN, T.C.42/922, SREEVARAHAM VALLA NARUVAMOODU.P.O., THIRUVANANTHAPURAM. BY ADV. SRI.M.R.SARIN RESPONDENT(S): --------------- THE AUTHORISED OFFICER/CHIEF MANAGER, CANARA BANK, PUTHENCHANTHAI BRANCH, M.G.ROAD BRANCH, THIRUVANANTHAPURAM – 695 001. BY SRI.PAULY MATHEW MURICKEN - SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 27/05/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: C.K.ABDUL REHIM, J --------------------------------------- W.P(C) No.9741 of 2011-P ---------------------------------------- Dated this the 27th day of May, 2011. J U D G M E N T Steps initiated under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) is challenged in this writ petition. It is noticed that the proceedings is only at the stage of issuing Ext.P1 demand notice, as contemplated under Section 13(2). The scheme of the statute provides effective remedy to the petitioner to file objections/representations against Ext.P1. According to the petitioner he had submitted Ext.P2 seeking time for settlement of arrears. Under Section 13(3A), if any objection is received to the notice under Section 13(2), within the time stipulated, the Bank is at an obligation to consider the same and to give a reply. 2. Under the above circumstances, it is highly premature for the petitioner to challenge Ext.P1. Learned counsel for the respondent Bank submitted that considering W.P(C) No.9741 of 2011-P 2 Ext.P2, a reply has already been given as contemplated under Section 13(3A). 3. Under such circumstances, the writ petition is not maintainable. However, the petitioner will be at liberty to pursue the statutory remedy as provided, if any further steps are taken in the matter. Under the above circumstances, the writ petition is dismissed without prejudice to rights if any available to the petitioner to invoke statutory remedy against further steps. C.K.ABDUL REHIM JUDGE ab