IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.K.ABDUL REHIM MONDAY, THE 1ST NOVEMBER 2010 / 10TH KARTHIKA 1932 WP(C).No. 33114 of 2010(L) -------------------------- OA.104/2010 of DEBT RECOVERY TRIBUNAL, ERNAKULAM .................... PETITIONER(S): ----------------------- 1. SRI.T.RAJAKUMARAN, S/O.THIRUMALRAJ BALAYYA, 220 KRR NAGAR, THENI TOWN, THENI POST, THENI DISTRICT, TAMILNADU. 2. SRI.SURESH T., S/O.THIRUMALRAJ BALAYYA, 220 KRR NAGAR, THENI TOWN, THENI POST, THENI DISTRICT, TAMILNADU. BY ADVS. SRI.G.HARIHARAN SRI.PRAVEEN.H. RESPONDENT(S): --------------------------- 1. AXIS BANK LTD.(FORMERLY UTI BANK), AGRI BUSINESS CENTRE, FIRST FLOOR, PUKALAKKAT CITY CENTRE & SIVADAS TOWER, NEAR ALAPATT REGENCY, M.K.K.NAIR ROAD, PALARIVATTOM P.O., KOCHI-682025, REP. BY ITS ABC HEAD ROY VARGHESE. 2. DEBT RECOVERY TRIBUNAL, (KERALA AND LAKSHADWEEP), HOUSING BOARD BUILDING, PANAMPILLY NAGAR, ERNAKULAM-682036. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 01/11/2010, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: VK C. K. ABDUL REHIM, J. =~=~=~=~=~=~=~=~=~=~=~=~=~=~=~=~= W.P.(C) No. 33114 of 2010 =~=~=~=~=~=~=~=~=~=~=~=~=~=~=~=~= Dated this the 1st day of November, 2010 JUDGMENT Petitioners are challenging Ext.P7 notice issued under the provisions of the the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act). It is noticed that under the Scheme of the statute, the petitioners have got an effective alternative remedy to raise objections against the demand notice issued under section 13(2). Further it is noticed that, an Original Application filed by the 1st respondent bank is pending disposal before the Debts Recovery Tribunal. The challenge raised against Ext.P7 is on the ground that initiation of proceedings under the SARFAESI Act during pendency of the Original Application is not maintainable. 2. It is a settled law by this time that pendency of an Original Application under the provisions of the Recovery of Debts Due to Banks and Financial Institutions Act is not a bar for initiating steps under the SARFAESI Act. W.P.(C) No.33114/2010 2 3. If the petitioners are aggrieved by any further steps pursuant to notice issued under section 13(2), they can very well invoke the alternative remedy, as provided under the SARFAESI Act itself, or they can agitate the matter before the Tribunal in the Original Application pending, and can also seek appropriate relief against the coercive steps initiated. Therefore, I am not inclined to entertain this writ petition. 4. In the result, this writ petition is dismissed, without prejudice to rights if any available to the petitioner to invoke appropriate statutory remedies. C. K. ABDUL REHIM, JUDGE. mn.