IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.K.ABDUL REHIM THURSDAY, THE 14TH OCTOBER 2010 / 22ND ASWINA 1932 WP(C).No. 27639 of 2010(D) -------------------------- PETITIONERS: ------------------- 1. VINODKUMAR T., S/O.THANKAVELU, SOFTWARE ENGINEER, RESIDING AT KARUMALAYAN PUTHUVILANGI NIVAS, NEAR VILLAGE OFFICE, NALLEPPILLI, P.O.NALLEPPILLI, CHITTUR TALUK, PALAKKAD DISTRICT, PIN - 678 553. 2. K.BHANUMATHI, W/O.THANKAVELU, NO OCCUPATION, RESIDING AT KARUMALAYAN PUTHUVILANGI NIVAS, NEAR VILLAGE OFFICE, NALLEPPILLI, P.O.NALLEPPILLI, CHITTUR TALUK, PALAKKAD DISTRICT, PIN - 678 553. BY ADVS. SRI.S.SUJIN SMT.NITA.N.S. RESPONDENTS: ---------------------- 1. THE AUTHORISED OFFICER, CHIEF MANAGER, SYNDICATE BANK, REGIONAL OFFICE, SHANMUGHAM ROAD, ERNAKULAM. 2. THE BRANCH MANAGER, MELEMURI BRANCH, SYNDICATE BANK, P.O.PALLIPPURAM, PALAKKAD - 678 006. BY SRI.R.S.KALKURA, SC. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 14/10/2010, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: VK C.K.ABDUL REHIM, J --------------------------- W.P(C) No.27639 of 2010-D ---------------------------- Dated this the 14th day of October, 2010. J U D G M E N T Second petitioner is the mother of the first petitioner. The first petitioner had availed a loan from the first respondent Bank for purchase of some property. Ext.P1 is the sale deed. Consequent to default committed in repayment of the loan, the respondent Bank initiated proceedings under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) and the property was put to auction on 7.9.2010, as proclaimed under Ext.P3 notice. 2. This writ petition was moved on the previous day of sale (6.9.2010). By virtue of an interim order, the respondents were restrained from finalising the bid if any received pursuant to Ext.P3. Subsequently, when the matter was posted on 9.9.2010, the respondents informed that the highest bid received with respect to sale is for an amount of Rs.15,01,000/- and finalisation of the bid as well as the confirmation is being kept in abeyance only because of the interim order issued on 6.9.2010. However, as a gesture of W.P(C) No.27639 of 2010-D 2 indulgence interim stay was extended subject to condition of the petitioner paying a sum of Rs.5,00,000/- within two weeks. The petitioner was also directed to implead the bidder who had offered the above said amount. 3. Today, when the matter was taken up for further consideration, learned counsel for the petitioners submitted that the interim order could not be complied with and that the petitioners are not in a position to raise the amount stipulated therein. 4. On consideration of the averments contained in the writ petition, I am of the view that there is no serious challenge raised against the proceedings under the SARFAESI Act, which is legally untenable. Under such circumstances, I am of the opinion that the writ petition deserves no merit and the same is accordingly dismissed. C.K.ABDUL REHIM JUDGE ab