IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.K.ABDUL REHIM WEDNESDAY, THE 16TH DECEMBER 2009 / 25TH AGRAHAYANA 1931 WP(C).No. 35370 of 2009(M) -------------------------- PETITIONER(S): --------------- 1. R.K.THULASEEDHARAN ACHARI, PROPRIETOR, 'SILPASALA', ASARIVILKATH VEEDU, THACHOORKUNNU, AVANAVANCHERY P.O., THIRUVANANTHAPURAM. 2. SEETHALAKSHMI AMMAL, W/O. R.K.THULASEEDHARAN ACHARI, ASARIVILKATH VEEDU, THACHOORKUNNU, AVANAVANCHERY P.O., THIRUVANANTHAPURAM. BY ADV. SRI.RAJESH. K.RAJU RESPONDENT(S): --------------- 1. THE SOUTH INDIAN BANK LTD., ATTINGAL BRANCH, REPRESENTED BY ITS MANAGER. 2. AUTHORIZED OFFICER AND CHIEF MANAGER, THE SOUTH INDIAN BANK LTD., THE CHAIRMAN, & THE CHAIRMAN OF THE SELECTION COMMITTEE, KERALA STATE WAKF BOARD, VIP ROAD, KALOOR, COCHIN-17. BY ADV. SRI. K.K. JOHN, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 16/12/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: shg/ C.K. ABDUL REHIM, J. - - - - - - - - - - - - - - - - - - - - - - - W.P.(C)No. 35370 of 2009 - - - - - - - - - - - - - - - - - - - - - - - Dated this the 16th day of December, 2009 J U D G M E N T 1. This writ petition is filed challenging coercive steps initiated under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act). According to the respondents balance outstanding payment in the loan account is around Rs.9.70 lakhs. Since the petitioners are seriously disputing correctness of the balance outstanding, the matter could not be adjudicated in this writ petition, especially in view of the effective remedy of appeal provided under the statute. But the respondents have now invoked Section 14 (1) and the petitioners are under threat of dispossession. 2. Having confronted with the above situation, learned counsel for the petitioners seeks permission of this court to withdraw the writ petition without prejudice to the petitioners right to approach the appellate authority. It is W.P.(C)No. 35370 of 2009 -2- further requested that in order to facilitate the petitioners to move before the appellate authority, coercive steps of recovery may be directed to be kept in abeyance for a reasonable time. 3. Having considered facts and circumstances of the case, I am of the opinion that the petitioners can be permitted to approach the appellate authority. Therefore the writ petition is dismissed as withdrawn without prejudice to the rights of the petitioners to file appeal as provided under Section 17(1) of the SARFAESI Act. 4. Coercive steps for dispossession of the petitioners from the property shall be kept in abeyance for a period of one month, in order to facilitate the petitioners to approach the appellate authority, on condition of the petitioners remitting a sum of Rs.1,00,000/- (Rupees One lakh only) within three weeks from today. C.K. ABDUL REHIM JUDGE shg/