IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.R.RAMACHANDRA MENON WEDNESDAY, THE 19TH MAY 2010 / 29TH VAISAKHA 1932 WP(C).No. 10090 of 2010(I) -------------------------- PETITIONER: --------------- 1. G.SREEKUMARAN THAMPI, T.C.10/100, RAMANILAYAM, SASTHAMANGALAM, PEROORKADA P.O., TRIVANDRUM. 2. B.L.JYOTHI, DO. DO. BY ADV. SRI.C.K.MOHANAN RESPONDENT(S): --------------- STATE BANK OF INDIA, STRESSED ASSETS RESOLUTION CENTRE, LHO ANNEXE (WING 1) IST FLOOR, CHILD WELFARE COMPLEX LMS COMPOUND, TRIVANDRUM REPRESENTED BY ASSISTANT GENERAL MANAGER. ADV. SRI.P.V.SURENDRANATH THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 19/05/2010, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: P.R.RAMACHANDRA MENON, J --------------------------- W.P(C) No.10090 of 2010-I ---------------------------- Dated this the 19th day of May, 2010. J U D G M E N T The petitioner is challenging the steps taken by the respondent Bank under the SARFAESI Act for realization of the amount stated as due under a loan transaction. 2. When the matter came up for consideration before this Court on 8.4.2010, the coercive steps were intercepted on condition that the petitioner satisfied a sum of Rs.5 lakhs within one month. 3. The learned counsel for the petitioner submits that the condition could not be satisfied by the petitioner because of some frustrating circumstances. 4. The learned counsel for the Bank submits, on instructions, that as on date, the total outstanding liability will come about Rs.18.83 lakhs and there is no merit or bonafides in the contentions and that, the petitioner, if aggrieved in any manner, has to pursue the alternate remedy as provided under the statute. In the above circumstances, this Court does not find it as a fit case to exercise the discretionary jurisdiction under Article 226 of W.P(C) No.10090 of 2010-I 2 the Constitution of India. Hence interference is declined and the Writ Petition is dismissed; however without prejudice to the rights of the petitioner to avail the statutory remedy if any, in accordance with law. P.R.RAMACHANDRA MENON JUDGE ab