IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN MONDAY, THE 20TH OCTOBER 2008 / 28TH ASWINA 1930 WP(C).No. 30422 of 2008(V) ------------------------------------- PETITIONER: ------------------- MR.P.CHANDRU, AGED 46, S/O PANCHAVARNNAN, MANAGING PARTNER, M/S BEETECH POLYMERS, HOUSE NO. 405, VADAYAMPATHUMALA, PUTHECRUZ 682 308. BY ADV. SRI.S.SACHITHANANDA PAI RESPONDENTS: --------------------- 1. THE AUTHORIZED OFFICER, THE FEDERAL BANK LTD., REGIONAL OFFICE, KOTTYAM. 2. THE FEDERAL BANK LTD, KOTTAYAM. ADV. SRI.MOHAN JACOB GEORGE FOR R1-2 SMT.P.V.PARVATHI FOR R1-2 SMT.REENA THOMAS FOR R1-2 THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 20/10/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: THOTTATHIL B. RADHAKRISHNAN, J. ------------------------------------------------------ W.P.(C) NO. 30422 OF 2008 (V) ------------------------------------------------------ Dated this the 20th day of October, 2008 J U D G M E N T The petitioner claims that he is a Managing Partner of a firm against which respondents have taken action under the SARFAESI Act. The complaint is that the upset price for machineries fixed in the sale notice is much below than the value fixed in Exhibit P1. Exhibit P1 is of the year 2004 and obviously, there will be depreciation. However, those matters need not preclude the petitioner from bringing best possible purchaser so that the maximum amount would be generated by the sale. I do not find any ground to issue any further orders except directing that if the petitioner brings a purchaser he will also be permitted to participate in the auction. This writ petition is ordered accordingly. Sd/- THOTTATHIL B. RADHAKRISHNAN, JUDGE skr/21/10 // True copy // P.A. to Judge.