IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN TUESDAY, THE 18TH JANUARY 2011 / 28TH POUSHA 1932 WP(C).No. 32593 of 2010(Y) -------------------------- PETITIONER(S): --------------- APRM EDUCATIONAL AND CULTURAL TRUST REGISTRATION NO.9/92, CHITHARA PO KOLLAM REPRESENTED BY ITS CHAIRMAN M.ABDUL SALAM, PANTHADIVILA VEEDU CHITHARA, MANCODE PO, KOLLAM. BY ADV. SRI.T.A.UNNIKRISHNAN SRI.K.S.PRAVEEN RESPONDENT(S): --------------- THE CHIEF MANAGER, UNION BANK OF INDIA, REGIONAL OFFICE M.G.ROAD, THIRUVANANTHAPURAM, PIN NO. 695 001. ADV.A.S.P. KURUP THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 18/01/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: S. SIRI JAGAN, J. ----------------------------------- W.P.(C) No. 32593 OF 2010 --------------------------------------- Dated this the 18th day of January, 2011 JUDGMENT The petitioner is challenging proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act for recovery of loan amounts due from the petitioner to the respondent. In this writ petition this Court has passed the following interim orders; On 27.10.2010, “Standing counsel for the respondent bank seeks time to get instructions and to file statement if so advised. There will be an interim stay against dispossession of the petitioner from the property in question, pursuant to Ext.P2 notice, till 30.11.2010 subject to the condition of the petitioner remitting a sum of Rs.5,00,000/- (Rupees five lakhs only) within to weeks from today and a further sum of Rs.10,00,000/- (Rupees Ten lakhs only) on or before 30.11.2010. Post after two weeks.” On 15.11.2010, “It is submitted that an amount of Rs.5 lakhs stipulated under the interim order has already been paid. Post on 2.12.2010 for reporting compliance of further payment.” On 2.12.2010, “I.A.No.16772/10 It is submitted that, out of the total amount of Rs.15 lakhs insisted to be paid though order dated 27.10.2010, the petitioner had already remitted a sum of Rs.11 lakhs. The petitioner seeks time for payment of the balance sum W.P.(C)No.32593/10 2 of Rs.4 lakhs till 26.01.2011. Counsel for respondent Bank stoutly opposes the prayer on the ground that the total amount due is more than Rs.67 lakhs and that the property is about to take over possession by the Advocate Commissioner appointed from the Chief Judicial Magistrate Court. Considering the fact that the property in question is an Educational Institution wherein Teachers Training College is run, I am inclined to show indulgence. Hence time for payment of the balance amount is extended till 31.12.2010. WP(c) Post the matter for further consideration on 03.01.2011. Needless to say that the interim stay will continue till then.” On 3.1.2011 “For disposal, at the request of the petitioner, on 12.1.2011. Interim stay will continue till then.” On 12.1.2011 “It is brought out that the conditions has not been complied with. It is clarified that the interim order will not be operative. The matter is posted for further consideration on 18.1.2011.” 2. The learned Standing Counsel for the Bank submits that the petitioner has not complied with the conditions in the interim orders. 3. It is settled law that the proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act has to be challenged before the Debt Recovery Tribunal in an appeal as provided under the Act and this Court should be slow in entertaining writ petitions under Article 226 of the Constitution of India in W.P.(C)No.32593/10 3 respect of the same. In the above circumstances, I am not inclined to entertain this writ petition in exercise of my discretionary jurisdiction under Article 226 of the Constitution of India. Accordingly, the writ petition is dismissed. S. SIRI JAGAN, JUDGE acd W.P.(C)No.32593/10 4