IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE ANTONY DOMINIC TUESDAY, THE 8TH JANUARY 2008 / 18TH POUSHA 1929 WP(C).No. 37663 of 2007(H) -------------------------- PETITIONER: --------------- MR.P.CHANDRU, AGED 46, S/O.PANCHAVARNNAN, MANAGING PARTNER, M/S.BEETECH POLYMERS, HOUSE NO.405, VADAYAMPATHUMALA, PUTHENCRUZ.682 308. BY ADV. SRI.S.SACHITHANANDA PAI RESPONDENT: ---------------- FEDERAL BANK LTD, KOTTAYAM BRANCH, KOTTAYAM. BY ADV. SRI.MOHAN JACOB GEORGE THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 08/01/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: ANTONY DOMINIC, J. =============== W.P.(C) NO. 37663 OF 2007 H ===================== Dated this the 8th day of January, 2008 J U D G M E N T Petitioner, against whom proceedings have been initiated under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 has approached this court praying for quashing Exts. P1 and P3 and also for a direction to the respondents not to take possession of the factory until the other mortgaged properties are sold. 2. The fact that more than Rs. 1 crore is due to the Bank is evident from the documents that are produced by the petitioner himself. If that be so, being a defaulter, the petitioner cannot successfully impugne the proceedings that are initiated against him and consequential challenge against Exts.P1 and P3 does not merit any consideration. 3. The other direction sought for is that the Bank should WPC 37663/07 :2 : proceed against other mortgaged properties excluding the factory building. The counsel for the Bank submits that the factory has not been functioning since long. That by itself may not be material. But, so long as the factory is also a mortgaged property, the Bank is always entitled to proceed against all or any of the mortgaged properties. Therefore, since there is nothing illegal even if the Bank proceeds against the factory building and takes possession thereof, I am not in a position to grant the relief that is sought for. Writ petition fails and is dismissed. ANTONY DOMINIC, JUDGE. Rp