IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.K.ABDUL REHIM FRIDAY, THE 15TH OCTOBER 2010 / 23RD ASWINA 1932 WP(C).No. 31089 of 2010 (I) -------------------------- PETITIONER: --------------- M/S.CEMAX PLANTS PVT LTD.,19/37, PUTHIYAPALAM, KASABA VILLAGE KOZHIKODE, REPRESENTED BY ITS MANAGING DIRECTOR, M.P.ABDUL NAZAR, AGED 51 YEARS, S/O.MOOSAKOYA HAJI THOUFEEQ MANZIL, POTTAMMAL, KOZHIKODE. BY ADV. SRI.ESM.KABEER RESPONDENT: --------------- THE AUTHORISED OFFICER, INDIAN OVERSEAS BANK, ERNAKULAM BRANCH 682035. BY ADV. SRI.P.B.SURESH KUMAR, SC, I.O.BANK THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 15/10/2010, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: VK C.K.ABDUL REHIM, J --------------------------- W.P(C) No.31089 of 2010-I ---------------------------- Dated this the 15th day of October, 2010. J U D G M E N T This writ petition is filed challenging Exts.P3 and P5 notices issued under Section 13(2) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act). According to the petitioner, the proceedings was initiated for realising amounts due in an agricultural term loan account and the property which is mortgaged is agricultural land having an extent of 150 Acres. The proceedings is challenged on the ground that the steps against agricultural land is not sustainable in view of Section 31(i) of the SARFAESI Act. The petitioner relies on a decision of this Court reported in Muhammed Basheer V. Kannur District Co-operative Bank Ltd. (2010(2) KLT 577). 2. However, I notice that Exts.P5 and P6 are only notices issued under Section 13(2). As per the scheme of the statute, the petitioner can raise objections against the demand, within a period of 60 days. Since the petitioner is raising a basic question touching jurisdiction of the respondents in invoking provisions of the W.P(C) No.31089 of 2010-I 2 SARFAESI Act, I am of the opinion that they can be provided with an opportunity to raise such objections, eventhough the period of 60 days stipulated has already elapsed. Learned counsel appearing for the respondent conceded that no further steps has been taken so far pursuant to Exts.P3 and P6. 3. Under the above circumstances, the writ petition is disposed of directing the petitioner to raise objections against Exts.P5 and P6 before the respondent within a period of two weeks from today. If any such objection is received, the respondent shall consider the same and take a decision thereon as contemplated under Section 13(3)(a) of the Act. 4. Needless to say that further proceedings can be pursued only after intimating the decision taken in this regard, to the petitioner. Sd/- C.K.ABDUL REHIM JUDGE //True Copy// P.A to Judge ab W.P(C) No.31089 of 2010-I 3