IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN THURSDAY, THE 28TH JULY 2011 / 6TH SRAVANA 1933 WP(C).No. 7147 of 2011(P) -------------------------------- PETITIONER(S): ------------------- MADHUKUMAR L.POTTI, S/O.LAKSHMI NARAYANAN POTTI, LAKSHMI NIVAS, LAKSHMI NADA, BEACH NORTH P.O., KOLLAM - 691 013. BY ADVS. SRI.O.V.MANIPRASAD SRI.SAJU J PANICKER SRI.LIJO KURIAN JOSE RESPONDENT(S): --------------------- 1. HOUSING DEVELOPMENT FINANCE CORPORATION LTD., RAMON HOUSE, BACK BAY-RECLAMATION, MUMBAI - 400 020. 2. AUTHORIZED OFFICER, HOUSING DEVELOPMENT FINANCE CORPORATION LTD., HDFC HOUSE, 3RD FLOOR, RAVIPURAM JUNCTION, M.G.ROAD, KOCHI - 682 015. 3. SMT.NAGAMANI MADHUKUMAR, W/O.MADHUKUMAR L.POTTI, C/O.CHANDRASEKHAR, NO.125, 3RD CROSS, 4TH MAIN ANJANEYA NAGAR, OPP: SRINIVASA KALYANA MANTAPA, BANASHANKARI III STAGE, BANGALORE - 560 085. * ADDL. R4 IMPLEADED 4. SRI.SREEJITH K., KARAPURATH HOUSE, KIZHAKKUMPATTUKARA, EAST FORT P.O., TRICHUR. * ADDL. R4 IMPLEADED AS PER ORDER DATED 28/07/2011 IN I.A. NO.12069/2011. R-2 BY SRI.K.K.CHANDRAN PILLAI, SENIOR ADVOCATE ADVS. SRI.A.S.SAJUSH PAUL SRI.BOBBY THOMAS R4 BY ADV. SRI.S.RAMESH,SC,COASTAL ZONE MANAGEMENT THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 28/07/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: svs W.P.(C). NO. 7147/2011 APPENDIX PETITIONER'S EXHIBITS: P1: COPY OF THE SALE DEED EXECUTED IN THE FAVOUR OF THE 3RD RESPONDENT. P2: COPY OF THE STATEMENT OF ACCOUNTS REGARDING THE PAYMENT OF LOAN AMOUNT. P3: COPY OF THE MEMORANDUM OF AGREEMENT SUBMITTED BEFORE THE HONOURABLE FAMILY COURT, BANGALORE. P4: COPY OF THE ORDER OF THE CHIEF JUDICIAL MAGISTRATE COURT DATED 27/09/2010. P5: COPY OF THE POSSESSION NOTICE DATED 13/01/2011. P6: COPY OF THE NOTICE DATED 14/01/2011. P7: COPY OF THE LETTER DATED 04/07/2011 ISSUED BY THE 2ND RESPONDENT. P8: COPY OF THE LETTER DATED 13/07/2011 ISSUED BY THE 2ND RESPONDENT. P9: COPY OF THE AUCTION SALE NOTICE DATED 30/03/2011. P10: COPY OF THE AUCTION SALE NOTICE DATED 24/05/2011 RESPONDENT'S EXHIBITS: NIL /TRUE COPY/ P.A. TO JUDGE. svs S.SIRI JAGAN, J. ================== W.P.(C).No. 7147 of 2011 ================== Dated this the 28th day of July, 2011 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 (“the Act), initiated by respondents 1 and 2 for recovery of the loan amounts defaulted by the petitioner. 2. The learned standing counsel for the 1st respondent points out that the entire proceedings under the Act are over, the property has been sold and the sale certificate has been issued to the purchaser. He would contend that it is registered also. He further submits that the petitioner has been informed about the balance amount available after settling the loan, which can be paid to him. In the above circumstances, I am of opinion that the petitioner has to seek his remedies in an appeal before the Debts Recovery Tribunal as provided under the Act. The Supreme Court has repeatedly frowned upon the High Courts entertaining writ petitions challenging proceedings under the Act. Therefore, I am not inclined to exercise my discretionary jurisdiction in favour of the petitioner. In the above circumstances, this writ petition is dismissed without prejudice to right of the petitioner to approach the Debts Recovery Tribunal in an appeal under the Act, appropriately. Interlocutory applications stand closed. Sd/- sdk+ S.SIRI JAGAN, JUDGE ///True copy/// P.A. to Judge