IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HON'BLE THE ACTING CHIEF JUSTICE MR.J.B.KOSHY & THE HONOURABLE MR. JUSTICE V.GIRI WEDNESDAY, THE 25TH FEBRUARY 2009 / 6TH PHALGUNA 1930 WA.No. 357 of 2009() -------------------- AGAINST THE JUDGEMENT/ORDER IN WPC.32447/2008 Dated 07/11/2008 .................... APPELLANT(S): PETITIONER: -------------------------------------------- M/S.EPIC SYSTEMS AND TOURS, REPRESENTED BY ITS PARTNER PREETHI MATHEW, THARA COMPLEX, MUPPALAM, ALAPPUZHA. BY ADV.MR.BIJU ABRAHAM RESPONDENT(S): RESPONDENT: -------------------------------------------------- UNION BANK OF INDIA, ALAPPUZHA BRANCH, REPRESENTED BY THE AUTHORIZED OFFICER, ALAPPUZHA. BY ADV. MR. A.S.P.KURUP, SC THIS WRIT APPEAL HAVING COME UP FOR ADMISSION ON 25/02/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: Kss J.B.KOSHY, Ag.C.J. & V.GIRI, J. -------------------------------------- W.A.No.357 of 2009 ------------------------------------- Dated 25th February, 2009 JUDGMENT Koshy, Ag.C.J . When disciplinary proceedings were taken against the appellant/petitioner by the bank under Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, appellant/petitioner approached this Court. The learned Single Judge directed that if the petitioner deposits 1/3 rd of the entire outstandings on or before 29.11.2008 and balance amount on or before 31.12.2008, recovery action shall be stopped. It is also stated that appellant/petitioner is precluded from challenging the impugned proceedings before any authorities including the Debt Recovery Tribunal. When action is taken under the Securitization Act, appellant/petitioner has got a right to file application under the Secuiritization Act and that statutory right cannot be taken away. Therefore, we make it clear that it is for the appellant/petitioner to approach the Debt Recovery Tribunal and pray for an appropriate relief. With the above direction, this writ appeal is disposed of. J.B.KOSHY ACTING CHIEF JUSTICE V.GIRI JUDGE tks