IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.K.ABDUL REHIM THURSDAY, THE 21ST OCTOBER 2010 / 29TH ASWINA 1932 WP(C).No. 20131 of 2010(N) -------------------------- PETITIONER: ------------------- M/S.BANGAR SHIPPING AND LOGISTICS, KINSHIP HOUSE,PLOT NOS.1 & 6,CAT IV,CC 24/492, MARAR ROAD,KOCHI-682003,REPRESENTED BY ITS SOLE PROPRIETOR MR.A.P.SHENOY. BY ADVS. SRI.E.K.NANDAKUMAR SRI.A.K.JAYASANKAR SRI.K.JOHN MATHAI SRI.P.BENNY THOMAS SRI.P.GOPINATH SMT.THUSHARA JAMES RESPONDENT: -------------------- INDIAN OVERSEAS BANK,KOCHI BRANCH, KOTTUKULAM ROAD,MATTANCHERRY,KOCHI-682002, REPRESENTED BY ITS SENIOR MANAGER. BY ADVS. SRI.K.N.SIVASANKARAN SRI.SUNIL SHANKER, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 21/10/2010, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: VK C.K.ABDUL REHIM, J --------------------------------------- W.P(C) No.20131 of 2010-N ---------------------------------------- Dated this the 21st day of October, 2010. J U D G M E N T This writ petition was filed challenging demands raised by the respondent Bank and also challenging the non-consideration of request made by the petitioner for restructuring of the loan. This writ petition was filed as early as in June 2010. Along with the counter affidavit, the respondent had produced copy of notice issued under Section 13(2) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act), Ext.R1(d), which was issued on 15.6.2010. 2. Since this Court was not at all inclined to entertain this writ petition to grant any reliefs with respect to the request for restructuring of the loan account, learned counsel for the petitioner submitted that the petitioner is seeking to pursue the contentions under the provisions of the SARFAESI Act. Accordingly, the petitioner seeks for a direction to consider the objections which will be filed against the notice issued under Section 13(2). W.P(C) No.20131 of 2010-N 2 3. Learned counsel appearing for the respondent Bank vehementally opposed such prayer on the ground that the receipt of notice under Section 13(2) was not disclosed at the time of filing of the writ petition. It was further contended that the time stipulated under Section 13(2) for filing objections against the demand had lapsed long back. 4. However, having considered the fact that the petitioner had filed this writ petition during June 2010, and they were prosecuting the challenges before this Court, I am of the view that the petitioner can be afforded with an opportunity to submit objections/representations against Ext.R1(d) notice. 4. Therefore, the writ petition is dismissed reserving liberty to the petitioner to file objections/representations against notice issued under Section 13(2) within a period of two weeks from today. 5. Needless to say that the Bank will discharge its obligation under Section 13(3A) if any such objections/ representations is received within the time stipulated as above, before proceeding with further steps under the SARFAESI Act. Sd/- C.K.ABDUL REHIM JUDGE ab //True Copy// W.P(C) No.20131 of 2010-N 3