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. 38728 of 2010(M) -------------------------- PETITIONER(S): --------------- SAJU JACOB, S/O. C.S.JACOB, AGED 52 YEARS, CHAKKALAKKAL HOUSE, INDIRA NAGAR, KALOOR P.O., ERNAKULAM VILLAGE, KANAYANNOOR TALUK, ERNAKULAM DISTRICT. BY ADV. SRI.P.M.ZIRAJ RESPONDENT(S): --------------- THE PUNJAB NATIONAL BANK, 2ND FLOOR, 40/1461, MARKET ROAD, ERNAKULAM-682 011, REPRESENTED BY ITS BRANCH MANAGER. ADV. SRI.MATHEWS V.JACOB (PARAVUR) FOR R1 SRI.JAWAHAR JOSE FOR R1 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.38728 of 2010 ================== Dated this the 18th day of January, 2011 J U D G M E N T The petitioner is challenging proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, initiated by the bank to whom the petitioner is liable to repay loan amounts taken from the bank. This Court has by interim order dated 28.12.2010 directed that the sale, if any, taken place pursuant to Ext.P5 notice shall not be confirmed for a period of one month subject to the condition that the petitioner remitting an amount of ` 10 lakhs on or before 15.1.2011. The learned counsel for the Bank submits that the condition in the interim order has not been complied with. It is the settled law, as laid down by the supreme Court, that proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, should not be interfered with under Article 226 of the Constitution of India and the parties should be relegated to their remedy by way of appeal before the Debts Recovery Tribunal. In the above circumstances, without prejudice to the right of the petitioner to approach the DRT appropriately, if he can do so at this point of time, this writ petition is dismissed. Sd/- sdk+ S.SIRI JAGAN, JUDGE ///True copy/// P.A. to Judge 2