IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.K.ABDUL REHIM WEDNESDAY, THE 12TH JANUARY 2011 / 22ND POUSHA 1932 WP(C).No. 38259 of 2010(F) -------------------------- PETITIONER(S): --------------- AHAMMED KUNJU, ERAVIMANGALATHU, CLAPPANA, KARUNAGAPPALLY, KOLLAM. BY ADV. SRI.M.R.SASITH RESPONDENT(S): --------------- THE AUTHORISED OFFICER, STATE BANK OF INDIA, RASMECCC 2ND FLOOR RAVI ARCADE, NEAR IRON BRIDGE, KOLLAM - 691 001. BY SRI.R.S.KALKURA - SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 12/01/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: C.K.ABDUL REHIM, J --------------------------------------- W.P(C) No.38259 of 2010-F ---------------------------------------- Dated this the 12th day of January, 2011. J U D G M E N T Proceedings initiated under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) is under challenge. The steps initiated under Section 13(4) was challenged without resorting to statutory remedy provided under Section 17(1). However, on the basis of the submissions made on behalf of the petitioner offering payment of the balance amounts, indulgence was shown in staying the proceedings for taking over possession of the vehicle, subject to condition of the petitioner remitting a sum of Rs.1 lakh. The interim order in question was issued on 23.12.2010, stipulating time for payment till 10.1.2011. 2. Today, when the matter was taken up for consideration, it is submitted that, the petitioner had failed in complying with the condition. 3. Under such circumstances, I am not inclined to W.P(C) No.38259 of 2010-F 2 entertain this writ petition any further. 4. Accordingly, the writ petition is dismissed. However, it is made clear that, rights if any available under law to the petitioner to invoke statutory remedy is hereby reserved. C.K.ABDUL REHIM JUDGE ab