IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.R.RAMACHANDRA MENON MONDAY, THE 15TH MARCH 2010 / 24TH PHALGUNA 1931 WP(C).No. 29813 of 2009(V) --------------------------------------- PETITIONER(S): ----------------------- JAYANARAYANAN. K, S/O.LAKSHMIKUTTY AMMA AGED 47, THEKKINIYAKATH HOUSE, CHERAMKUTH, MANHAPATTA PO, MANJERI, MALAPPURAM. BY ADV. MR.K.S.MADHUSOODANAN, MR.T.V.JAYAKUMAR NAMBOODIRI. RESPONDENT(S): -------------------------- 1. KERALA STATE CO-OPERATIVE BANK LTD., KOZHIKODE REGIONAL OFFICE, COLOMBO COMPLEX M.M.ALI ROAD, KOZHIKODE, REP. BY REGIONAL MANAGER. * ADDL. R2 IMPLEADED ADDL.R3: SURESH. N, S/O.CHANTHU, NECHIKKADAN HOUSE, VELLAKATTA, KARAKKODE P.O., VAZHIKKADU, MALAPPURAM DISTRICT. * ADDL. R2 IMPLEADED, VIDE ORDER DATED 05/02/2010 IN I.A.1543/2010. R1 BY ADV. MR.NAGARAJ NARAYANAN,SC,K.S.CO-OP BANK. R2 BY ADV. MR.DEVIDAS.U.K. THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 15/03/2010,THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: WP(C) NO. 29813/2009-V APPENDIX PETITIONER'S EXHIBITS: EXT.P1: COPY OF THE NOTICE BEARING NO.CRO/SRE/MPM 25/625/2009-10 DATED 06/10/2009. EXT.P2: COPY OF THE AGREEMENT BETWEEN THE PETITIONER AND PRINCE ANTONY DATED 19/10/2009. EXT.P3: COPY OF THE FORWARDING LETTER DATED 04/12/2009 TO THE RESPONDENT. EXT.P4: COPY OF THE LETTER BEARING NO.CRO/SRE/MPM 25/813/2009-10 DATED 09/11/2009. RESPONDENT'S EXHIBITS: NIL //TRUE COPY// P.A. TO JUDGE rs. P.R. RAMACHANDRA MENON, J. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ W.P.(C).No.29813 OF 2009 ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Dated this the 15th day of March, 2010 ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ J U D G M E N T The petitioner has approached this Court, challenging the steps taken by the respondent bank, invoking the power and procedure under the SARFAESI Act, on many a ground. 2. The respondent bank has filed an affidavit stating that the condition imposed by this Court while granting the interim order of stay has not been complied with, by the petitioner. It is also brought to the notice of this Court that because of the default, the bank proceeded with further steps for conducting the sale by way of public auction and accordingly, the property has already been sold to the additional 2nd respondent, who has been subsequently impleaded as per order dated 5.2.2010 in I.A.No. 1543/2010. The learned counsel appearing for the petitioner submits that, in view of the subsequent developments, the petitioner W.P.(C).No.29813 OF 2009 2 might be permitted to challenge the sale by filing appropriate proceedings before the DRT, as provided under the statute. 3. After considering the facts and circumstances, this Court finds that an opportunity can be given to the petitioner to challenge the sale by resorting to the statutory remedy available under the Act, which shall be done, if so desired, within 3 weeks from the date of receipt of a copy of this Judgment, so as to enable the petitioner to pursue such exercise, 'statusquo' shall be maintained for a period of one month. 4. Subject to the above, interference is declined; however, reserving the right of the petitioner to challenge the sale proceedings by resorting to the appropriate remedy, if any, in accordance with law. If any such appeal is filed within 3 weeks from the date of receipt of a copy of this Judgment, it shall be treated as a valid and proper W.P.(C).No.29813 OF 2009 3 appeal and shall be considered on merits, passing appropriate orders after hearing all concerned, as expeditiously as possible. The writ petition is disposed of as above. P.R. RAMACHANDRA MENON JUDGE nl