IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.K.ABDUL REHIM FRIDAY, THE 4TH FEBRUARY 2011 / 15TH MAGHA 1932 WP(C).No. 22317 of 2010(L) -------------------------- PETITIONER(S): --------------- MAJEED .E., S/O.KUNJI MUHAMMED, ELEMBILASSERY HOUSE,AMARAKUNI P.O.,PULPALLY, WAYANAD-79,NOW RESIDING AT ELEMBILASSERY, KAVIL P.O.,NADUVANNUR(VIA)KOZHIKODE-673614. BY ADV. SRI.LALJI P.THOMAS RESPONDENT(S): --------------- 1. THE MANAGER, DEWAN HOSING FINCNE CORPORATION LTD, BANK ROAD, CALICUT. 2. RAMACHANDRAN M.,(AUTHORISED OFFICER) S/O.BHASKARA M.,DEWAN HOUSING FINANCE CORPORATION LTD,DOOR NO.TV 33/363N,2ND FLOOR, GRAND PLAZA, FORT ROAD,KANNUR-KERALA-670001. 3. MANAGING DIRECTOR, DEWAN HOUSING FINANCE CORPORATION-LTD,WARDEN HOUSE, 2ND FLOOR, SIR P.M.ROAD, FORT,MUMBAI-400001. 4. AUTHORISED SALE RECOVERY OFFICER, KALPETTA BAR ASSOCIATION HALL, NEAR CIVIL STATION, KALPETTA, WAYANAD - 670 009. ADV. SRI.P.PAULOCHAN ANTONY FOR R1 & 2 THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 04/02/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: C.K.ABDUL REHIM, J --------------------------------------- W.P(C) No.22317 of 2010-L ---------------------------------------- Dated this the 4th day of February, 2011. J U D G M E N T The petitioner is challenging coercive steps initiated under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act). In view of the effective alternative remedy available, this Court was not inclined to entertain this writ petition. However, on the basis of submissions made, an interim stay was granted subject to condition of the petitioner remitting a sum of Rs.50,000/-. It is reported that the said amount was paid. Subsequently, the matter was extended on several occasions. On 1.11.2010, the interim stay was extended subject to condition of the petitioner remitting a further sum of Rs.50,000/- within three weeks thereof. Eventhough various adjournments were sought thereafter, the amount was not paid. Subsequently, I.A.No.16353/2010 was filed seeking extension of time for payment. This Court granted time till 15.12.2010. Today it W.P(C) No.22317 of 2010-L 2 is reported that the condition has not complied with by the petitioner. 2. Under the above circumstances, I am not inclined to entertain this writ petition any further. It is made clear that the petitioner will be at liberty to approach the respondent Bank seeking one time settlement of the account or seeking regularisation by payment of the amounts in default. It is made clear that, dismissal of this writ petition will not stand in the way of the respondent Bank considering any such request. In the result, the writ petition is dismissed, subject to the observations as made above. C.K.ABDUL REHIM JUDGE ab