IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.K.ABDUL REHIM FRIDAY, THE 4TH MARCH 2011 / 13TH PHALGUNA 1932 WP(C).No. 2431 of 2011(D) -------------------------------------- PETITIONER(S): ----------------------- 1. ZEENATH.M, W/O.ABDUL AZIZ, KHADEEJA MANZIL, P.O.CHALAD, KANNUR DISTRICT. 2. ABDUL AZIZ.A.K, S/O.AHMED HAJI, KHADEEJA MANZIL, P.O.CHALAD, KANNUR DISTRICT. BY ADV. SRI.RENJIT GEORGE RESPONDENT(S): --------------------------- 1. THE KERALA STATE CO-OPERATIVE BANK LTD., REGIONAL OFFICE, KOZHIKODE COLOMBO COMPLEX, M.M.ALI ROAD, KOZHIKODE-673 002, REPRESENTED BY ITS REGIONAL MANAGER. 2. THE KERALA STATE CO-OPERATIVE BANK LTD., KANNUR BRANCH, SOUTH BAZAR, KANNUR DISTRICT-670 002, REPRESENTED BY ITS MANAGER. R1 & R2 BY ADV. SRI.NAGARAJ NARAYANAN,SC,K.S.CO-OP BANK THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 04/03/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: sts C.K.ABDUL REHIM,J. ------------------------------- WP(C).NO. 2431 of 2011 --------------------------------- Dated this the 4th day of March, 2011 JUDGMENT Steps for auction sale of the property initiated under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFAESI Act) is under challenge in this writ petition. Considering the effective statutory remedy available, this court was not inclined to entertain this writ petition. However, as a gesture of indulgence confirmation of sale if any takes place was stayed subject to condition of the petitioners remitting a sum of Rs.10 lakhs within three weeks from 24.1.2011. Thereafter the petitioners sought extension of time for compliance of the condition, and as a last chance time was extended till 28.2.2011 making it clear that no further extension will be granted and on failure the writ petition will be dismissed. 2. When the matter was taken up on today, it is reported that the petitioner has not complied with the condition stipulated. Petitioner had filed I.A.No.3515/2011 seeking further extension of time till 31.3.2011, on the basis of a statement that WP(C) .2431/2011 2 the petitioner had already entered into an agreement for sale of some immovable property. Extension sought for was stiffly opposed by the counsel appearing for the respondent Bank. It is brought to my notice that the total amount due is more an Rs.15 lakhs. 3. Under the above circumstance, I am not inclined to entertain this writ petition any further. Accordingly, the writ petition is dismissed. However, it is made clear that the rights if any available to the petitioner to invoke statutory remedy is reserved. C.K.ABDUL REHIM,JUDGE pmn/ WP(C) .2431/2011 3