IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE K.M.JOSEPH FRIDAY, THE 19TH DECEMBER 2008 / 28TH AGRAHAYANA 1930 WP(C).No. 37192 of 2008(C) ---------------------------------------------- PETITIONER(S): ---------------------- M.A.KAREEM, S/O.MOHAMMED, FLAT NO.C-1, HIGH FIELD APARTMENTS, MANGATTUVAYAL, ARAYADATHUPALAM ROAD, KOTTULY, CALICUT. BY SHRI T. KRISHNAN UNNI, SR. & ADV. SRIC.M.MOHAMMED IQUABAL RESPONDENT(S): -------------------------- 1. INDIAN OVERSEAS BANK, REGIONAL OFFICE, CHERUTTY ROAD, KOZHIKODE. 2. THE AUTHORIZED OFFICER, INDIAN OVERSEAS BANK, REGIONAL OFFICE, CHERUTTY ROAD, KOZHIKODE. ADV. SRI.P.B.SURESH KUMAR, SC,I.O.BANK FOR R1 THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 19/12/2008,THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: K. M. JOSEPH, J. -------------------------------------- W.P.C. NO. 37192 OF 2008 C -------------------------------------- Dated this the 19th December, 2008 JUDGMENT Petitioner availed a loan. There was default. Action is taken under the SARFAESI Act. Notice under Section 13(2) is issued. Petitioner submitted a reply. Ext.P4 is the decision taken on the same and Ext.P5 is produced as the valuation of the valuer of the Bank. The principal contention taken is that the land in question is agricultural land and cannot be proceeded against. 2. I heard Shri T. Krishnan Unni, learned senior counsel appearing for the petitioner and Shri P.B. Sureshkumar, learned standing counsel appearing for the respondent Bank. After having heard for some time, learned senior counsel for the petitioner would submit that the petitioner will approach the Bank with a proposal for settling the liability and the learned standing counsel for the respondent Bank submits that if the petitioner submits an OTS proposal, the same can be directed to WPC.37192/08 C 2 be considered. In such circumstances, the Writ Petition is disposed of as follows: If the petitioner submits an application for settling the liability on OTS basis within two weeks from today before the West Hill Branch of the respondent Bank, a decision will be taken on the same in accordance with law and communicate the same to the petitioner. Further proceedings pursuant to Ext.P8 will be kept in abeyance till a final decision is taken and communicated to the petitioner. Sd/= K. M. JOSEPH, JUDGE kbk. // True Copy // PS to Judge