IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN TUESDAY, THE 18TH JANUARY 2011 / 28TH POUSHA 1932 WP(C).No. 37814 of 2010(B) ----------------------------------- .................... PETITIONER(S): --------------- 1. P.C.JACOB,AGED 71 YEARS, S/O.CHACKO,PUTHETHAYA ELAMPURAYIDATHIL, KURIYANOOR.P.O,KOZHENCHERRY,PATHANAMTHITTA DIST. 2. SANTHOSH,PUTHETHAYA ELAMPURAYIDATHIL, KURIYANOOR.P.O,KOZHENCHERRY,PATHANAMTHITTA DIST. 3. SAJAN JACOB,PUTHETHAYA ELAMPURAYIDATHIL, KURIYANOOR.P.O,KOZHENCHERRY, PATHANAMTHITTA DISTRICT. BY ADV. SRI.P.HARIDAS SMT.SIKKY RAVISANKAR SMT.M.SINDHU THANKAM RESPONDENT(S): --------------- 1. SYNDICATE BANK,MALLASSERY BRANCH, PATHANAMTHITTA DISTRICT.REPRESENTED BY ITS AUTHORIZED OFFICER,REGIONAL OFFICE, THIRUVANANTHAPURAM,SASTHAMANGALAM, THIRUVANANTHAPURAM,KERALA STATE-695010. 2. SYNDICATE BANK,MANIPAL,UDUPPI DISTRICT, PIN-576 104,KARNATAKA STATE,REPRESENTED BY ITS GENERAL MANAGER. ADV.MR. R.S. KALKURA - SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 18/01/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: S. SIRI JAGAN, J. ----------------------------------- W.P.(C) No.37814 OF 2010 --------------------------------------- Dated this the 18th day of January, 2011 JUDGMENT The petitioners are challenging proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act initiated by the first respondent bank for recovery of loan amount due from the petitioners to the first respondent bank. At the time of admission this Court granted a conditional stay directing the petitioners to pay an amount of Rs.2 lakhs on or before 7.1.2011 as a condition for stay. Admittedly, that direction has not been complied with. It is settled law that proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act has to be challenged before the Debt Recovery Tribunal in an appeal. This Court should be reluctant to entertain writ petitions under Article 226 of the Constitution of Indian against such proceedings. In the above circumstances, without prejudice to the right W.P.(C)No.37814/10 2 of the petitioners to challenge the proceedings before the Debt Recovery Tribunal appropriately, if they can do so at this point of time, this writ petition is dismissed. S. SIRI JAGAN, JUDGE acd W.P.(C)No.37814/10 3