IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN TUESDAY, THE 5TH JULY 2011 / 14TH ASHADHA 1933 WP(C).No. 34113 of 2009(H) --------------------------------------- PETITIONER(S): ----------------------- P.V.JOSE, S/O.VARGHESE, AGED 62 YEARS, PULICKOTTIL HOUSE, VYLATHOOR, NHAMANGAT P.O THRISSUR - 679 563. BY ADV. SRI.C.A.CHACKO SMT.C.M.CHARISMA SRI.N.A.SHAFEEK RESPONDENT(S): --------------------------- 1. THE AUTHORIZED OFFICER, THE FEDERAL BANK LTD., ALUVA. 2. THE BRANCH MANAGER, THE FEDERAL BANK LTD., KUNNAMKULAM BRANCH, THRISSUR DISTRICT. R1 & R2 BY ADV. SRI.GEORGE VARGHESE (MANACHIRACKEL) SRI.K.J.CHACKOCHAN THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 05/07/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: tss W.P.(C) NO.34113/2009 APPENDIX PETITIONER'S EXHIBITS P1:- COPY OF THE COMPROMISE PETITION DT. 28.9.2007 . P2:- COPY OF THE RECEIPT DTD. 1.10.07 ISSUED BY THE 2ND RESPONDENT. P3:- COPY OF THE MEDICAL REPORTS ISSUED FROM VARIOUS HOSPITALS TO THE PETITIONER. P4:- COPY OF THE NOTICE DTD. 17.11.2009 ISSUED TO PETITIONER RESPONDENT'S EXHIBITS NIL:- TRUE COPY P.A. TO JUDGE tss S. SIRI JAGAN, J. ------------------------------------------- W.P.(C) No.34113 OF 2009 ---------------------------------------------- Dated this the 5th day of July, 2011 JUDGMENT The petitioner is challenging proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act initiated by the respondents for recovery of the loan amounts due from the petitioner to the bank. This Court passed an interim order on 26.11.2009 as follows: “Not admitted. Urgent notice to respondents by speed post returnable within a week. Interim stay against dispossession of the petitioner from the property for one month on condition of the petitioner remitting a sum of Rs.2,50,000/- (Rupees Two Lakh Fifty thousand only) within three weeks from today.” Admittedly the petitioner has not complied with the conditions of the interim order, despite granting further time on 13.1.2010. That being so, the petitioner is not entitled to further indulgence from this Court. It is settled law that the remedy of the petitioner against proceedings under the the Securitisation and Reconstruction of Financial Assets and Enforcement of Security W.P.(C)No.34113/09 2 Interest Act is to approach the Debt Recovery Tribunal in an appeal as provided under the Act. Therefore, without prejudice to that right, this writ petition is dismissed. S. SIRI JAGAN, JUDGE acd W.P.(C)No.34113/09 3