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. 34794 of 2010(Y) -------------------------- PETITIONER: ------------------ V.SANAL KUMAR, S/O.VISHATHRA GOPINATHAN, 'PRANAVAM', DARSANAVATTOM, NEDUMPARAMBU P.O., KILIMANOOR, THIRUVANANTHAPURAM. BY ADV. SMT.S.MUMTAZ SRI.D.L.MAHESWARI RESPONDENT: -------------------- STATE BANK OF TRAVANCORE, KILIMANOOR BRANCH, REPRESENTED BY THE AUTHORISED OFFICER, THIRUVANANTHAPURAM DISTRICT. BY SC SRI.R.S.KALKURA. 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. = = = = = = = = = = = = = WP(C).No.34794 of 2010-Y. = = = = = = = = = = = = = Dated this the 12th January, 2011. J U D G M E N T Consequent to the failure in repayment of loan availed by the petitioner from the respondent bank, proceedings was initiated under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) and the property which was secured for the loan was taken over possession by virtue of an order issued by the Chief Judicial Magistrate Court, Thiruvananthapuram under Section 14(1) of the SARFAESI Act (Ext.P3). 2. Eventhough the petitioner had not availed the remedy provided under Section 17(1), on the basis of the specific submissions offering payment of the amounts due, this Court had shown indulgence in staying the dispossession subject to condition of the WP(C).No.34794 of 2010-Y. 2 petitioner remitting a sum of ` 5,00,000/-. The said interim order was issued on 19.11.2010. The stipulated time for payment as directed was three weeks thereof. Subsequently the petitioner sought an extension of time after remitting a sum of ` 2,50,000/-. Considering the facts and circumstances, in spite of stiff opposition, extension of time was allowed till 10.1.2011 making it clear that no further extension will be granted under any circumstance and on failure the writ petition will be dismissed. 3. Today when the matter was taken up, it is conceded that the petitioner has not complied with the conditions. Learned counsel for the respondent submitted that the loan was availed to the tune of ` 25,00,000/- and the amount now outstanding payment is around to ` 30,00,000/-. Under such circumstance I am not inclined to entertain this writ petition any further. WP(C).No.34794 of 2010-Y. 3 4. Accordingly, the writ petition is dismissed. However, rights if any available to the petitioner under law to invoke statutory remedy is reserved, and the contentions raised herein are left open for agitation. C.K.ABDUL REHIM, (Judge) Kvs/-