IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.K.ABDUL REHIM MONDAY, THE 22ND NOVEMBER 2010 / 1ST AGRAHAYANA 1932 WP(C).No. 32431 of 2010(D) -------------------------- PETITIONER(S): --------------- 1. M/S.SUKHODAYA AYURVEDIC PHARMASEUTICALS & HOSPITALS, P.B.NO.15, KANJIRAPPALLY, KOTTAYAM, REP. BY ITS PARTNER DR.C.V.JAMES. 2. DR.C.V.JAMES, AGED 55 YEARS, S/O.VARGHESE, RESIDING AT MENDAPALLY HOUSE, P.B.NO.15, KANJIRAPPALLY, KOTTAYAM. 3. DR.REETHA JAMES, AGED 50 YEARS, W/O.DR.C.V.JAMES, RESIDING AT MENDAPALLY HOUSE, P.B.NO.15, KANJIRAPPALLY, KOTTAYAM - PIN 686 507 BY ADV. SRI.N.SUKUMARAN, SENIOR ADVOCATE SRI.LATHEESH SEBASTIAN RESPONDENT(S): --------------- THE AUTHORISED OFFICER, CANARA BANK, CHANGANASSERRY, KOTTAYAM DISTRICT - 686 101. SRI.PAULY MATHEW MURICKEN - SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 22/11/2010, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: C.K.ABDUL REHIM, J --------------------------------------- W.P(C) No.32431 of 2010-D ---------------------------------------- Dated this the 22nd day of November, 2010. J U D G M E N T Steps for sale of immovable property taken pursuant to proceedings initiated under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) is under challenge. On the basis of the fact that the petitioners have approached the Debt Recovery Tribunal invoking Section 17 (1) and that Tribunal had granted interim relief which was extended subsequently on more than one occasion, this Court was not at all inclined to entertain this writ petition. 2. However, based on an undertaking that the petitioners are ready to make payment of a sum of `15,00,000/- immediately, this Court directed the respondent to defer the sale, subject to condition of the petitioner remitting a sum of `15,00,000/- on or before 18.11.2010. 3. Today when the matter was taken up for W.P(C) No.32431 of 2010-D 2 consideration, learned counsel for the petitioners submitted that the petitioners could not comply with the condition stipulated. On the other hand the petitioners seek permission to withdraw the writ petition without prejudice to their rights to approach the statutory authority, seeking appropriate relief, as permissible under law. Permission is granted. The writ petition is accordingly dismissed as withdrawn, without prejudice to rights if any available to the petitioners to approach the statutory authority. Sd/- C.K.ABDUL REHIM JUDGE //True Copy// P.A to Judge ab W.P(C) No.32431 of 2010-D 3