IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.K.ABDUL REHIM WEDNESDAY, THE 8TH JUNE 2011 / 18TH JYAISHTA 1933 WP(C).No. 12319 of 2011(L) --------------------------------- PETITIONER(S): -------------------- BALAKRISHNAN V.A, S/O.KANARAN, AGED 80 YEARS,CHEEKATTU PARAMBIL VEEDU, POST NANMINDA, KOZHIKODE DISTRICT. BY ADVS. SRI.V.T.MADHAVANUNNI SRI.V.A.SATHEESH RESPONDENT(S): --------------------- THE KOZHIKODE DISTRICT CO-OPERATIVE BANK LTD NO. 1635, REPRESENTED BY ITS SENIOR MANAGER,HEAD OFFICE P.B NO. 503, KALLAI ROAD, POST CHALAPPURAM, KOZHIKODE DISTRICT. 673 002. BY ADV. SRI.P.V.KUNHIKRISHNAN, SC. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 08/06/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: svs W.P.(C). NO. 12319/2011 APPENDIX PETITIONER'S EXHIBITS: P1: COPY OF THE CERTIFICATE ISSUED BY THE VILLAGE OFFICER, NANMINDA TO THE PETIITONER DATED 16/03/2011. P2: COPY OF THE NOTICE U/S 13(2) OF THE SARFAESI ACT, ISSUED BY THE RESPONDENT TO THE PETITONER DATED 26/08/2010. P3: COPY OF THE REGISTERED COVER IN WHICH EXT. P2 NOTICE IS SENT BY THE RESPONDENT TO THE PETITIONER DATED 02/09/2010. P4: COPY OF THE REPLY NOTICE SENT BY THE PETITIONER TO THE RESPONDENT DATED 28/10/2010. P5: COPY OF THE ACKNOWLEDGEMENT RECEIVED BY THE SENIOR MANAGER OF THE RESPONDENT DATED 02/11/2010. P6: COPY OF THE POSSESSION ADVERTISEMENT IN KERALA KAUMUDI DAILY ON 27/02/2011. RESPONDENT'S EXHIBITS:NIL /TRUE COPY/ P.A. TO JUDGE. svs C.K.ABDUL REHIM, J. ------------------------------- W.P.(C).No.12319 of 2011 ------------------------------- Dated this the 8th day of June, 2011. J U D G M E N T Considering the effective statutory remedy provided under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act), this Court was not inclined to entertain this writ petition. However, dispossession of the petitioner from the property pursuant to Ext.P6 was directed to be kept in abeyance, through an interim order issued by this Court, subject to condition of the petitioner remitting a sum of Rs.2,50,000/- in two equal instalments falling due on or before 30.4.2011 and 31.5.2011. 2. It is conceded that the petitioner had failed to comply with the conditions. According to the petitioner, the steps under the SARFAESI Act was initiated without proper compliance of the mandatory procedure and it is not sustainable. However, in view of the remedy provided under Section 17(1) it may not be proper for this Court to entertain 2 W.P.(C).No.12319 of 2011 such challenges in this writ petition. Liberty of the petitioner to invoke statutory remedy is however reserved. 3. Under the above mentioned circumstances, the writ petition is dismissed without prejudice to rights if any available to the petitioner to invoke statutory remedy against the impugned proceedings. C.K.ABDUL REHIM, Judge ami/