IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.N.RAMACHANDRAN NAIR & THE HONOURABLE MR. JUSTICE K.SURENDRA MOHAN TUESDAY, THE 14TH SEPTEMBER 2010 / 23RD BHADRA 1932 WA.No. 1556 of 2010() ------------------ JUDGEMENT/ORDER IN WPC.27088/2010 Dated 02/09/2010 ................ APPELLANT / PETITIONER : -------------------------------------- HASSAN, S/O. KHADER, AGED 60 YEARS, KORAPPA HOUSE, MANATHALA, CHAVAKKAD. BY ADVS. SRI.BINOY VASUDEVAN SMT.P.G.BABITHA RESPONDENTS / RESPONDENTS : ----------------------------------------------- 1. STATE BANK OF INDIA, REPRESENTED BY ITS CHIEF MANAGER, (RCPC) REGIONAL BUSINESS OFFICE, BHARATHAKSHEMAM BUILDING, ST. THOMAS COLLEGE ROAD, THRISSUR – 680 005. 2. A.C.M. SHAUKATH, ANATHODU CHALIL HOUSE, BABY ROAD, THIRUVATHRA, CHAVAKKAD, THRISSUR DISTRICT. R1 BY SRI. R.S. KALKURA, SC, STATE BANK OF INDIA THIS WRIT APPEAL HAVING COME UP FOR ADMISSION ON 14/09/2010, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: Mn C.N.RAMACHANDRAN NAIR & K.SURENDRA MOHAN, JJ. ------------------------- W.A. No.1556 of 2010 -------------------------- Dated this the 14th September, 2010 J U D G M E N T Ramachandran Nair, J. The appellant is a claimant of various amounts due from the 2nd respondent who is a defaulter to the 1st respondent Bank. Second respondent's properties were mortgaged in favour of the 1st respondent which is holding first charge of the property. Therefore, sale by the 1st respondent in proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFAESI) is perfectly in order. Appellant's case is that he has filed a money suit for recovery of amount due to him from the 2nd respondent. Appellant has also produced an order from the Civil Court attaching the property before judgment. 2. The only prayer pressed before us is to direct the 1st respondent to issue notice of sale for the defaulter's property so that appellant can arrange a buyer or even bid for the property to secure his interest. W.A. No.1556 of 2010 2 3. We do not think that the 1st respondent can raise any objection against this because their rights are well protected by virtue of the first charge over the property. 4. Accordingly, the writ appeal is disposed of confirming the judgment of the learned Single Judge directing the 1st respondent to issue notice of sale to the appellant and it is for the appellant to arrange a purchaser or to participate in the auction or tender in the sale of the property. Balance sale proceeds, if any, left after adjustment towards debt due to the 1st respondent should be appropriated in terms of civil court orders, if any, issued or otherwise amount will be payable to the 2nd respondent. C.N.RAMACHANDRAN NAIR JUDGE K.SURENDRA MOHAN JUDGE ma W.A. No.1556 of 2010 3