IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN MONDAY, THE 8TH AUGUST 2011 / 17TH SRAVANA 1933 WP(C).No. 10976 of 2011(V) -------------------------------------- PETITIONER: ------------------- MR. ABDUL KALAM, S/O. USMAN HAJI, AGED 44, KEELATHU HOUSE, KUMARANELLUR P.O., KOZHIKODE. BY ADV. SRI.P.A.MOHAMMED SHAH. RESPONDENTS: ------------------------ 1. CHIEF MANAGER, STATE BANK OF TRAVANCORE, THIRUVAMBADI BRANCH, KOZHIKODE DISTRICT – 673 001. 2. REGIONAL MANAGER, STATE BANK OF TRAVANCORE, REGION-II, ZONAL OFFICE, KOZHIKODE-673 004. 3. REGISTRAR, DEBTS RECOVERY TRIBUNAL, ERNAKULAM – 36. R1 & R2 BY ADVS. SRI.T.SETHUMADHAVAN, SRI.PUSHPARAJAN KODOTH, SRI.K.JAYESH MOHANKUMAR, R3 BY SR. GOVT. PLEADER SRI. C.K. GOVINDAN. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 08/08/2011,THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: W.P.(C). NO.10976/2011-V: APPENDIX PETITIONERS' EXHIBITS: EXT.P.1: COPY OF THE STATEMENT OF ACCOUNTS OF M/S A1-ANSAR MARGIN FREE SUPER MARKET DTD. 28/08/2010. EXT.P.2: COPY OF THE STATEMENT OF ACCOUNTS OF M/S. A1-ANSAR METALS AND FOOTWEAR DTD. 28/08/2010. EXT.P.3: COPY OF THE NOTICE ISSUED BY THE R.1. UNDER SECTION 13 (2) OF SECURITIZATION ACT DTD. 25/10/2010. EXT.P.4: COPY OF THE ORDER OF THIS HONOURABLE COURT IN W.P.(C).10163/2010 DTD. 25/03/2010. EXT.P.5: COPY OF THE ORDER OF THIS HONOURABLE COURT IN W.P.(C).10163/2010 DTD. 25/03/2010. EXT.P.6: COPY OF THE ACCOUNT STATEMENT DTD. OF A1-ANSAR METALS AND FOOTWEAR DTD. 08/02/2011. EXT.P.7: COPY OF THE ACCOUNT STATEMENT DTD. F MARGIN FREE SUPER MARKET DTD. 08/02/2011. EXT.P.8: COPY OF THE HAND WRITTEN CALCULATION ISSUED BY THE R.1. DTD. NIL. EXT.P.9: COPY OF THE ONE TIME SETTLEMENT APPLICATION FILED BY THE PETITIONER BEFORE THE R.1. DTD. 29/03/2011. EXT.P.10: COPY OF THE RECEIPT FOR PAYMENT OF RS.10 LAKHS DTD. 29/03/2011. RESPONDENTS' EXHIBITS: NIL. //TRUE COPY// P.S. TO JUDGE. Prv. S. Siri Jagan, J. =-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-=-= W.P(C) No. 10976 of 2011 =-=-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-= Dated this, the 8th day of August, 2011. J U D G M E N T The petitioner challenges proceedings initiated by the respondents under the Securitisation & Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. The petitioner submits that the petitioner has serious disputes regarding the amounts due. I am of opinion that insofar as the petitioner has an effective alternative remedy by way of filing an application under Section 17 of the Securitisation & Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 before the Debt Recovery Tribunal, I am not inclined to exercise my discretionary jurisdiction under Article 226 of the constitution of India in favour of the petitioner. Accordingly, without prejudice to the right of the petitioner to seek other remedies, this writ petition is dismissed. Sd/- S. Siri Jagan, Judge. Tds/