IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN FRIDAY, THE 19TH AUGUST 2011 / 28TH SRAVANA 1933 WP(C).No. 22667 of 2011(G) -------------------------------- PETITIONER(S): --------------- 1. M/S.KAIKARA CONSTRUCTION COMPANY, A PARTNERSHIP FIRM, REPRESENTED BY ITS MANAGING PARTNER, A.ABDUL SALAM, KAITHAVARAM BUNGALOW, KANKATHUMUKKU, KOLLAM. 2. A. ABDUL SALAM, KAITHAVARAM BUNGALOW, KANKATHUMUKKU, KOLLAM. 3. JUVAIRY SALAM, KAIKKARA BUNGLOW, HOUSE NO.S.320, SREEPURAM LANE, POOJAPPURA, THIRUVANANTHAPURAM. BY ADV. SRI.P.B.SURESH KUMAR, SENIOR ADVOCATE SRI.LEO GEORGE RESPONDENT(S): ------------------- 1. SOUTH INDIAN BANK, REPRESENTED BY ITS CHIEF GENERAL MANAGER, SOUTH INDIAN BANK, S.I.B. HOUSE, T.B.ROAD, THRISSUR.-682 0021 2. CHIEF MANAGER, SOUTH INDIAN BANK, BISHOP JEROME NAGAR, CHINNAKKADA, KOLLAM-691001. 3. AUTHORISED OFFICER, SOUTH INDIAN BANK, REGIONAL OFFICE, HOTEL SAFA INTERNATIONAL BUILDING, MALAYALA MANORAMA ROAD, THIRUVANANTHAPURAM-695 001. ADV. MR. GEORGE VARGHESE - SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 19/08/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: WP(C).No. 22667 of 2011(G) APPENDIX PETITIONERS' EXHIBITS EXT.P1: COPY OF THE NOTICE ISSUED BY THE 3RD RESPONDENT TO THE 1ST PETITIONER DTD 18.7.2008. EXT.P2: COPY OF THE AMENDED ORIGINAL APPLICATION FILED IN O.A.NO.212 OF 2009 DATED 15.5.2009. EXT.P3: COPY OF THE STATEMENT FILED BY THE PETITIONERS IN O.A.NO.212 OF 2009 DATED 17.8.2011. EXT.P4: COPY OF THE JUDGMENT IN W.P.(C)NO.18325/2009 DATED 7/7/2009 EXT.P5: COPY OF JUDGMENT IN W.P.(C)NO.20533/2009 DTD 29.7.2009. EXT.P6: COPY OF ORDER PASSED BY THE HONOURABLE DEBTS RECOVERY TRIBUNAL IN S.A.NO.272 OF 2011 DTD 9.5.2011. EXT.P7: COPY OF SALE NOTICE PUBLISHED BY THE 3RD RESPONDENT DATED 2.7.2011. EXT.P8: COPY OF THE AWARD IN FAVOUR OF THE PETITIONERS DATED 25.6.2010. TRUE COPY PA TO JUDGE. S. SIRI JAGAN, J. ------------------------------------------- W.P.(C) No.22667 OF 2011 ---------------------------------------------- Dated this the 19th day of August, 2011 JUDGMENT The petitioners are challenging proceedings initiated by the respondents under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act for recovery of loan amounts due from the petitioners to the respondents. The petitioners have already approached the Debt Recovery Tribunal by filing a securitisation application as provided under Section 17 of the Act. In fact, the Tribunal has passed an interim order giving the petitioners facility to pay off the amounts in instalments. The petitioners did not comply with the same. The petitioners sought extension of time to pay off the amounts. Yesterday (8.8.2011) the Debt Recovery Tribunal directed the petitioners to pay all the three instalments, which were staggered earlier to be paid today. It is under the above circumstances, the petitioners have come before this Court seeking the following relief: W.P.(C)No.22667/11 2 “[I] issue a writ of certiorari or any other appropriate writ, direction or order calling for the records leading to Exhibit P7 sale notice and quashing the same.” 2. I am of opinion that having approached the Tribunal and obtained interim orders, without complying with the same, the petitioners cannot seek discretionary jurisdiction of this Court under Article 226 of the Constitution of India. In the above circumstances, I am not inclined to exercise my discretionary jurisdiction in favour of the petitioners and accordingly, the writ petition is dismissed. S. SIRI JAGAN, JUDGE acd W.P.(C)No.22667/11 3 W.P.(C)No.22667/11 4