IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.K.ABDUL REHIM WEDNESDAY, THE 30TH SEPTEMBER 2009 / 8TH ASWINA 1931 WP(C).No. 26296 of 2009(F) -------------------------- PETITIONER: --------------- A.M.RAFEEQ, S/O.ABDULKARIM, AGED 48, A.M.R.MANZIL, MANGODU, THEKKUPARA P.O. BY ADVS. SRI.R.T.PRADEEP SRI.V.VIJULAL RESPONDENTS: --------------- 1. THE AUTHORISED OFFICER/CHIEF MANAGER, THE FEDERAL BANK LTD., REGIONAL OFFICE, PATTAM, THIRUVANANTHAPURAM. 2. THE BRANCH MANAGER, THE FEDERAL BANK LTD., AMBOORI BRANCH. BY ADV. SRI.GEORGE VARGHESE (MANACHIRACKEL), SC THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 30/09/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: shg/ WP(C).No. 26296 of 2009(F) APPENDIX PETITIONER'S EXHIBITS: P1. COPY OF PASS BOOK DATED 24.03.2003. P2. COY OF NOTICE DATED 17.02.2009. P3. COPY OF NOTICE DATED 19.08.2009. RESPONDENTS' EXHIBITS: NIL //TRUE COPY/ P.A. TO JUDGE shg/ C.K. ABDUL REHIM, J - - - - - - - - - - - - - - - - - - - - - - - W.P.(C)No. 26296 of 2009 - - - - - - - - - - - - - - - - - - - - - - - Dated this the 30th day of September, 2009 J U D G M E N T 1. The Writ Petition is filed on the premise that the respondent Bank is proceeding with the steps under the provisions of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act), on default in re-payment of the loan availed by the petitioner. Learned Standing Counsel for the respondents on the basis of the instructions submitted that the Bank issued only Exts.P2 & P3 demand notices and no proceeding under the provisions of the SARFAESI Act has been initiated as on today. The learned counsel for the petitioner submitted that he is ready and willing to pay off the entire balance outstanding within a reasonable time. If the petitioner makes any proposal stipulating terms of W.P.(C)No. 26296 of 2009 -2- repayment within any reasonable time in installments, the Bank will consider the same and permit the petitioner to pay off the entire arrears within a reasonable time in installments. C.K. ABDUL REHIM JUDGE shg/