IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.K.ABDUL REHIM WEDNESDAY, THE 9TH MARCH 2011 / 18TH PHALGUNA 1932 WP(C).No. 34314 of 2009(H) ---------------------------------- PETITIONER(S): -------------------- U.MOHAMMED SAHIR, AGED 42 YEARS, S/O. USMAN, H.NO.VI/1570, INDIAN CHAMBER ROAD, KOCHI-2. BY ADV. SMT.K.NANDINI RESPONDENT(S): -------------------- 1. THE CHIEF MANAGER, (CRLD) UNION BANK OF INDIA, REGIONAL OFFICE, ERNAKULAM. 2. THE TALUK INDUSTRIES OFFICER, TALUK INDUSTRIES OFFICE, KOCHI TALUK, ERNAKULAM DIST. * ADDL. R3 IS IMPLEADED 3. M.M. ABDUL MAJEED, S/O. LATE PEECHIKKANI RAVUTHAR, AGED 69 YEARS, RESIDING AT C.C/12/1452, PANAYAPPILLI DESOM, THOPPUMPADYVILLAGE, KOCHI TALUK. * IS IMPLEADED AS PER ORDER DATED 23/02/2011 IN I.A. NO.2986/2011. R1 BY ADV. SRI.A.S.P. KURUP, SC. R2 BY GOVT.PLEADER SRI.BIJOY CHANDRAN R3 BY ADV. SMT.J.SHEEBA MARIAM THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 09/03/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: svs C.K.ABDUL REHIM, J --------------------------------------- W.P(C) No.34314 of 2009-H ---------------------------------------- Dated this the 9th day of March, 2011. J U D G M E N T The petitioner is the bidder of an industrial unit, which was sold in auction conducted pursuant to proceedings initiated by the 1st respondent, under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act). Inspite the auction conducted as early as in July 2009, the petitioner could not remit the bid amount in full. On the other hand repeated representations were made seeking extension of time for payment of the balance amounts. Even the 2nd respondent had issued letters to the 1st respondent recommending granting of further time for payment, on the premise that the petitioner is an expert entrepreneur in the field of industry and is a physically challenged person. Under the above circumstances, the writ petition was filed seeking directions to the 1st respondent to grant sufficient time for payment of the balance amount. W.P(C) No.34314 of 2009-H 2 2. During pendency of the writ petition, the additional 3rd respondent got impleaded. On the basis of an agreement arrived with the petitioner, the additional 3rd respondent made an offer for payment of the balance amount. It is conceded by all parties that the entire sale amount has already been remitted including interest and other expenses, pursuant to the offer. It is submitted by learned standing counsel appearing for the 1st respondent Bank that, under such circumstances the Bank is ready and willing to execute the sale deed in favour of the additional 3rd respondent and his wife, as agreed upon by the petitioner. It is made clear that the Bank is at liberty to proceed with further steps as above. Accordingly, the writ petition is closed permitting the 1st respondent to proceed with further steps. C.K.ABDUL REHIM JUDGE ab