IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN WEDNESDAY, THE 10TH DECEMBER 2008 / 19TH AGRAHAYANA 1930 WP(C).No. 35800 of 2008(J) ------------------------------------------- PETITIONER(S): ------------------------ YOUNG MEN'S CHRISTIAN ASSOCIATION, CALICUT, REPRESENTED BY ITS SECRETARY NIRMAL, 1723, WEST AVENUE, KACHERY AMSOM AND DESOM, KOZHIKODE TALUK. BY ADV. SRI.T.R.RAVI SRI.P.S.MURALI RESPONDENT(S): ---------------------------- 1. UNITED BANK OF INDIA, REGIONAL OFFICE, SOUTHERN REGION, II8 OLD NO.217, RAMAKRISHNA MATH ROAD, MYLAPORE, CHENNAI. 2. UNITED BANK OF INDIA, KANNUR ROAD BRANCH, KOZHIKODE.1. ADV. SRI.M.MOHAMMED NAVAZ FOR R1 & R2 THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 10/12/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: Kss THOTTATHIL B. RADHAKRISHNAN, J. = = = = = = = = = = = = = = = = = = = = = = = = W.P.(C).No.35800 of 2008-J = = = = = = = = = = = = = = = = = = = = = = = = Dated this the 10th day of December, 2008. JUDGMENT Heard. The petitioner is YMCA. It has two buildings in a plot. It availed a facility from the respondents, defaulted in repayment and is facing SARFAESI Act proceedings. The income generated from the buildings appears to be wholly insufficient to pay off the outstandings. Under such circumstances, to sustain the petitioner’s activities as a non-profit establishment with certain philanthropic activities, the learned counsel for the petitioner requested that the respondents should bestow attention to the possibility of bifurcating the interest and selling off one building which, according to the petitioner, will fetch the entire outstandings. WP(C)35800/08 -: 2 :- Recording this submission, the petitioner is directed to make appropriate appearance before the second respondent and have the matter worked out. If that does not work out, it will be open to the respondents to sell the entire security property to realize the outstandings. Let the petitioner make appearance before the second respondent through competent authorized representative within three weeks from now. To enable the aforesaid proceedings, the impugned proceedings will stand suspended for 45 days. If the petitioner does not appear before the second respondent within the time stipulated, the benefits of this judgment will stand recalled and the respondents will be at liberty to sell the entire property, without fresh notice to the petitioner. The writ petition is ordered accordingly. THOTTATHIL B. RADHAKRISHNAN, JUDGE. Sha/121208