IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.R.RAMACHANDRA MENON TUESDAY, THE 2ND MARCH 2010 / 11TH PHALGUNA 1931 WP(C).No. 37122 of 2009(I) -------------------------- PETITIONER: -------------- MOHAMMED SAFIR,POST BOX NO.407, PALACE HILL,CHIRAYINKIL,THIRUVANANTHAPURAM NOW RESIDING AT 3B,VANTAGE POINT,V.R.M.ROAD, RAVIPURAM,KOCHI-16. BY ADV. SRI.SATHISH NINAN RESPONDENTS: ----------------- 1. THE AUTHORISED OFFICER,L.I.C HOUSING FINANCE LIMITED,LEELA TOWER,KESAVADASAPURAM, THIRUVANANTHAPURAM-04. 2. THE L.I.C HOUSING FINANCE LIMITED, LEELA TOWER,KESAVADASAPURAM,THIRUVANANTHAPURAM-4, REPRESENTED BY ITS AREA MANAGER. 3. SRI.AYOOB KHAN,SHEEBA SAW MILLS, SHEEBA BHAVAN,KUNTHALLUR,P.O.CHIRAYINKIL, THIRUVANANTHAPURAM-695 304. R1 & R2 BY ADV. SRI.R.S.KALKURA R3 BY ADV. SRI.P.C.HARIDAS THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 02/03/2010, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: P.R.Ramachandra Menon, J. ------------------------------------------ W.P.(C) No.37122 of 2009 ------------------------------------------ Dated this the 2nd day of March, 2010 JUDGMENT The issue involved in this writ petition is with regard to the sale of the property belonging to the petitioner over which security interest was created in respect of a loan transaction availed from the second respondent. 2. It is brought to the notice of this Court that the sale of the property is already over and that because of the delay in proceeding with further steps, irrecoverable loss and hardship are being caused to the second respondent and also to the successful bidder who is very much before this Court as well. 3. Learned counsel for the petitioner submits that the petitioner would avail the statutory remedy of approaching the Debts Recovery Tribunal and some breathing time may be given in this regard. W.P.(C) No.37122 of 2009 - 2 - 4. In the facts and circumstances, the writ petition is disposed of permitting the petitioner to move the Debts Recovery Tribunal in accordance with law to challenge the sale proceedings. So as to enable the petitioner to have such exercise and also taking note of the fact that the further steps pursuant to the sale which took place on 3.12.2009 were intercepted by this Court by granting the interim order on 22.12.2009 which was extended subsequently, this Court finds it fit and proper to grant two weeks' time to the petitioner for pursuing such exercise. Accordingly, the interim order will continue for a further period of two weeks. P.R.Ramachandra Menon, Judge vns