IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.K.ABDUL REHIM MONDAY, THE 30TH MAY 2011 / 9TH JYAISHTA 1933 WP(C).No. 10408 of 2011(A) ---------------------------------------- PETITIONER(S): ----------------------- SUBRAMANIAN. M, S/O.LATE KRISHNA GUPTAN, AGED 47 YEARS, RESIDING AT MAPPATTIL HOUSE, SRIKRISHNAPURAM , PALAKKAD. BY ADV. SRI.P.K.RAMKUMAR, SMT.ANITHA MENON. RESPONDENT(S): -------------------------- 1. THE DISTRICT MAGISTRATE, PALGHAT- 678 001. 2. THE TAHSILDHAR, OTTAPALAM, OTTAPALAM TALUK OFFICE, 679 101. 3. THE STATE BANK OF INDIA, REP. BY ITS CHIEF MANAGER & AUTHORIZED OFFICER, STATE BANK OF INDIA, REGIONAL BUSINESS OFFICE, PALAGHAT- 678 001. 4. SRI.S. RAMACHANDRAN, THE RECOVERY AGENT STATE BANK OF INDIA, RAMACHANDRAN & RAMACHANDRAN ASSOCIATES, CHARTERED ACCOUNTANTS, SURYA KIRAN, COLLEGE ROAD, PALAGHAT- 678 001. 5. SMT.LATHIKA RAJAGOPALAN, W/O.LATE RAJAGOPALAN, AGED 40 YEARS, 'SOUPARNIKA', MANNAMPATTA P.O., SRIKRISHNAPURAM- 679 517. 6. SHARON, S/O.LATE RAJAGOPALAN, REP. BY LATHIKA RAJAGOPALAN, MOTHER, MINOR AGED 17 YEARS, 'SOUPARNIKA' MANNAMPATTA P.O., SRIKRISHNAPURAM- 679 517. WP(C).No. 10408 of 2011(A) 7. GAYATHRI, D/O.LATE RAJAGOPALAN, REP. BY LATHIKA RAJAGOPALAN, MOTHER, MINOR AGED 16 YEARS, 'SOUPARNIKA', MANNAMPATTA P.O., SRIKRISHNAPURAM- 679 517 . 8. SMT.MADHAVI, W/O.LATE AYYAPPAN, KURANJADIPARANDIL HOUSE, MANNAMPATTA PO, SRIKRISHNAPURAM- 679 517 . R3 BY SRI.K.K.CHANDRAN PILLAI, SENIOR ADVOCATE, ADV. SRI.A.S.SAJUSH PAUL. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 30/05/2011,THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: C.K.ABDUL REHIM, J. ------------------------------------------- W.P.(C).No.10408 of 2011 ------------------------------------------- Dated this the 30th day of May, 2011 J U D G M E N T ---------------------- Proceedings initiated under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) is challenged in this writ petition. Considering the effective remedy available under the statute, this court was not inclined to entertain this case. However, on the basis of persuasive submissions made, indulgence was shown in staying the dispossession of the petitioner from the property, subject to condition of the petitioner remitting a sum of Rs.8 lakhs in two instalments, falling due on or before 30.4.2011 and on or before 25.5.2011. 2. It is conceded that the stipulations contained in the interim order has not been complied with, till date. Under such circumstances, I am not inclined to entertain this writ petition any further. However, statutory remedy if any available to the petitioner to challenge the impugned proceedings will stand reserved. The writ petition is dismissed subject to observations mentioned as above. C.K.ABDUL REHIM, JUDGE. okb