IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.K.ABDUL REHIM THURSDAY, THE 27TH JANUARY 2011 / 7TH MAGHA 1932 WP(C).No. 1141 of 2011(P) -------------------------------------- PETITIONER(S): ----------------------- SAJANA ABDUL HAMEED, AGED 30 YEARS, W/O.M.R.MAHASHOOK RAHMAN, RESIDING AT "POURNAMI", PERUMATHURA P.O., THIRUVANANTHAPURAM BY ADV. SRI.C.A.MAJEED SRI.K.H.ASIF RESPONDENT(S): -------------------------- 1. STATE BANK OF TRAVANCORE, PUTHUKURICHY BRANCH, THIRUVANANTHAPURAM 695 303, REPRESENTED BY ITS MANAGER. 2. THE AUTHORIZED OFFICER, STATE BANK OF TRAVANCORE, REGION III, ZONAL OFFICE, THIRUVANANTHAPURAM - 695001. R1 & R2 BY ADV.SRI. R.S. KALKURA, SC FOR SBT THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 27/01/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: sts C.K.ABDUL REHIM, J. ------------------------------------------- W.P.(C).No.1141 of 2011 ------------------------------------------- Dated this the 27th day of January, 2011 J U D G M E N T ---------------------- Consequent to default committed in repayment of loan availed by the petitioner from the respondent Bank, the immovable property which is the secured asset was proceeded against, invoking provisions contained in the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act). Ext.P1 is the demand notice issued under Section 13(2) of the Act. 2. According to the petitioner, on receipt of the demand notice, he had filed Ext.P2 objections. But there was no proper consideration of such objections and a non- speaking reply was issued as per Ext.P4. Hence the petitioner seeks interference of this court to restrain further coercive steps. 3. Going by provisions contained in the SARFAESI Act it is evident that the petitioner has got an effective alternative remedy with respect to further steps if any taken under Section 13(4). Hence I am of the opinion that W.P.(C).1141/11 -2- interference by this court at this stage is not at all proper and warranted. Further, this court is not in a position to conduct any adjudication regarding correctness of the balance amount demanded. 4. However, learned counsel appearing for the petitioner made an undertaking that the petitioner is ready and willing to pay off the entire liability in a phased manner, within a reasonable time and that the petitioner is relinquishing all challenges against the proceedings as well as her rights if any to invoke statutory remedy available. On that basis a request is made to restrain further coercive steps under the SARFAESI Act. Learned counsel for the respondent Bank, on the basis of instructions, submitted that the balance outstanding will be around Rs.2,11,000/-. It is further submitted that the loan account is in gross default and the petitioner was not taking any earnest efforts to wipe off the liability. 5. Considering the rival submissions, I am of the view that the limited relief sought for can be considered, eventhough interference on merits is not proper. 6. Accordingly, the writ petition is disposed of allowing the petitioner to pay off the balance amount in instalments W.P.(C).1141/11 -3- within a reasonable time. The respondents are directed to refrain from taking any further steps on the basis of Ext.P1 notice, provided the petitioner remitting the entire balance outstanding along with future interest if any due, in 8 (eight) equal monthly instalments falling due on or before 28.2.2011 and on or before the last day of the succeeding months. 7. It is made clear that the petitioner will be at liberty to approach the respondents pointing out genuine discrepancies if any with respect to correctness of the amount demanded and if any such approach is made, the same shall be considered despite the directions issued as above. 8. It is further made clear that on the event of default in payment of any one of the instalments, the respondents will be at liberty to proceed with further steps and on such event the petitioner will be precluded from raising any subsequent challenge against such proceedings. C.K.ABDUL REHIM, JUDGE. okb