IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.K.ABDUL REHIM WEDNESDAY, THE 15TH SEPTEMBER 2010 / 24TH BHADRA 1932 WP(C).No. 27116 of 2010(L) --------------------------------- PETITIONER(S): ------------------- SANTHOSH KUMAR.S., S/O.SADASIVAN, AGED 37 YEARS, DIVINE HOUSE, ALUMUKKU, POOVACHAL.P.O., THIRUVANANTHAPURAM.-695 575. BY ADV. SRI.V.ANS RESPONDENT(S): -------------------- THE AUTHORISED OFFICER & CHIEF MANAGER, UNION BANK OF INDIA, REGIONAL OFFICE, UNION BANK BHAVAN, M.G.ROAD, STATUE, THIRUVANANTHAPURAM-695 001. R1 BY SRI. ASP KURUP, SC. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 15/09/2010, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: SVS/ C.K. ABDUL REHIM, J ------------------------------ WP(C) NO. 27116 OF 2010 -------------------------------------- Dated this the 15th day of September, 2010 JUDGMENT Challenge in this Writ Petition is against Ext.P1 notice issued under Section 13 (2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act). Since the petitioner has got an effective alternate remedy by way of submitting objections against the proceedings and since he has got a further remedy to invoke jurisdiction of the Tribunal under Section 17 (1), I am not at all inclined to entertain this Writ Petition on merits. 2. However, learned counsel for the petitioner submitted that the defaulted amounts outstanding payment in the 'cash credit facility' availed by him is only a meager sum, and that he is ready to pay off the same within no time. Therefore direction is sought for against the respondent Bank to permit regularization of the account, on the basis of the undertaking that he is 2 WP(C) No. 27116/2010 relinquishing the challenges against the proceedings and he is not intending to invoke any statutory remedies. 3. Learned standing counsel appearing for the respondent Bank, on the basis of instructions, submitted that the 'cash credit facility' availed was to the extent of Rs.3 lakhs. Now the account stand overdrawn to the extent of more than Rs.3.70 lakhs. If the petitioner makes payment of the excess amounts immediately and seeks renewal, the same can be considered on remitting renewal charges. 4. Under the above circumstances, I am of the opinion that, eventhough interference on merits is not proper and justifiable, indulgence can be shown in the matter of permitting renewal of the cash credit facility. 5. Therefore the Writ Petition is disposed of directing the petitioner to make payment of the amount outstanding over and above the limit along with renewal charges if any due, within a period of one month from today. On such payment the respondent Bank shall renew the cash 3 WP(C) No. 27116/2010 credit facility and allow the petitioner to continue benefit under that facility in accordance with terms of the loan agreement. 6. It is made clear that in case of default in complying with the above direction, the respondent will be free to proceed with further steps. It is also made clear that the benefit granted above will be subject to the condition that the petitioner is precluded from raising any subsequent challenge against such proceedings. C.K. ABDUL REHIM JUDGE dnc