IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN WEDNESDAY, THE 30TH JULY 2008 / 8TH SRAVANA 1930 WP(C).No. 19026 of 2008(M) -------------------------- PETITIONER: ------------ M/S.MADAPARAMBIL CORPORATION, KANJIRAMATTOM, BYPASS JUNCTION, THODUPUZHA, EAST P.O, IDUKKI DISTRICT REPRESENTED BY ITS MANAGING PARTNER, VARGHESE.M VARGHESE. BY ADV. SRI.SHAJI P.CHALY RESPONDENTS: ------------- 1. DEPUTY GENERAL MANAGER, THE FEDERAL BANK LTD, REGIONAL OFFICE, THEKKUMKAL BUILDING, T.B.ROAD, KOTTAYAM-1. 2. THE FEDERAL BANK LTD, REGISTERED OFFICE AT ALUVA, REPRESENTED BY ITS CHAIRMAN. 3. UNION OF INDIA REPRESENTED BY SECRETARY TO GOVERNMENT OF INDIA, MINISTRY OF FINANCE, NEW DELHI. BY ADV. SRI.ABRAHAM THOMAS, CGC FOR R3 SRI.MOHAN JACOB GEORGE FOR R1 & 2 SMT.P.V.PARVATHI FOR R1 & 2 SMT.REENA THOMAS FOR R1 & 2 SRI.L.RAM MOHAN FOR R1 & 2 THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 30/07/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: S.SIRI JAGAN, J. ================== W.P.(C).No.19026 of 2008 ================== Dated this the 30th day of July, 2008 J U D G M E N T The petitioner challenges proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (“the Act” for short), initiated by the respondents for recovery of the loan amount due from the petitioner to respondents 1 and 2. At the time of admission I had directed the petitioner to pay an amount of Rs.10 lakhs within one month, on which condition, an interim stay was also granted for one month. It is admitted that the petitioner has not paid the said amount. In any event, it is settled law that proceedings under the Act have to be challenged in an appeal as provided under the Act itself. Therefore, without prejudice to such right of the petitioner, this writ petition is dismissed. Sd/- sdk+ S.SIRI JAGAN, JUDGE ///True copy/// P.A. to Judge 2