IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN WEDNESDAY, THE 13TH AUGUST 2008 / 22ND SRAVANA 1930 WP(C).No. 16356 of 2008(V) -------------------------- PETITIONER: PETITIONERS ----------------------- 1. K. THULASI, PROPRIETOR, M/S. CHITTOOR AGENCIES, STADIUM BUILDINGS, KOLLAM, (RESIDING AT CHITTOOR HOUSE, THIRUMULLAVARAM.P.O, KOLLAM). 2. SMT. A. SARASWATHY, W/O. K. THULASI, CHITTOOR HOUSE, THIRUMULLAVARAM.P.O, KOLLAM. BY ADV. SRI.PRAVEEN K. JOY RESPONDENTS: RESPONDENTS ------------------------ 1. UCO BANK, BEACH ROAD, KOLLAM BRANCH, REP. BY ITS CHIEF MANAGER, KOLLAM-691 001. 2. AIUTHORISED OFFICER, UCO BANK, KOLLAM BRANCH, BEACH ROAD, KOLLAM-691 001. BY ADV. SRI.S.SANTHOSH KUMAR FOR R1 & R2 SRI.K.G.BAIJU FOR R1 & R2 THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 13/08/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: S.SIRI JAGAN, J. ================== W.P.(C).No.16356 of 2008 ================== Dated this the 13th day of August, 2008 J U D G M E N T The petitioner challenges proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 initiated by the respondents for coercive recovery of the amounts due from the petitioner. On 12.6.2008 I had directed the petitioner to pay an amount of Rs.25 lakhs as a condition for keeping the coercive proceedings in abeyance. But the petitioner has not paid that amount. The petitioner seeks a direction to the bank to regularize the loan account accepting the defaulted amount. I am not inclined to entertain this writ petition since the remedy of the petitioner lies in approaching the Debts Recovery Tribunal as provided under Section 17 of the Act. In fact the counsel for the petitioner admits that an appeal has already been preferred before the DRT. In the above circumstances, without prejudice to the right of the petitioner to pursue that appeal, this writ petition is dismissed. Sd/- sdk+ S.SIRI JAGAN, JUDGE ///True copy/// P.A. to Judge 2