IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN MONDAY, THE 11TH AUGUST 2008 / 20TH SRAVANA 1930 WP(C).No. 20048 of 2008(J) ----------------------------------- PETITIONER: ------------------- SMT. SHEREEFFA HASSAINAR, W/O M.K. HASSAINAR, MUNDETH HOUSE, EDAVOOR P.O., KOOVAPPADY, PERUMBAVOOR VIA. BY ADV. SRI.DEEPU THANKAN RESPONDENTS: ------------------------ 1. UNION BANK OF INDIA, MARINE DRIVE BRANCH, ERNAKULAM, REPRESENTED BY ITS CHIEF MANAGER. 2. THE AUTHORISED OFFICER, UNION BANK OF INDIA, NODAL REGIONAL OFFICE, UNION BANK BHAVAN, M.G. ROAD, ERNAKULAM, KOCHI -35. BY SRI. M.P. KURUP. THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 11/08/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: WP(C).No. 20048 of 2008(J) -2- APPENDIX PETITIONER'S EXHIBITS: EXT.P1 - TRUE COPY OF THE POSSESSION NOTICE PUBLISHED IN INDIAN EXPRESS DAILY ON 1/10/2006. EXT.P2 - TRUE COPY OF THE LETTER 14/3/2008. EXT.P3 - TRUE COPY OF THE AUCTION NOTICE DATED 19/6/2008 APPEARED IN THE NEWS PAPER OF MATHRUBHUMI DAILY ON 20/6/2008. EXT.P4 - TRUE COPY OF THE REQUEST DATED 1/7/2008. /TRUE COPY/ PA TO JUDGE rhs S.SIRI JAGAN, J ================== W.P(C)No.20048 of 2008 ================== Dated this the 11th day of August, 2008. J U D G M E N T The petitioner is a guarantor in respect of a loan availed of by her husband from the Union Bank of India. The bank has initiated proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 which is under challenge in this writ petition. At the time of admission, I had granted an interim order directing the petitioner to pay an amount of Rs. 65 lakhs within one month as a condition for stay of further proceedings in the matter. Admittedly, that amount has not been paid. It is submitted by the Counsel for the bank that more than Rs.1.25 cores are due. It is settled law, that proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act have to be challenged before the Debt Recovery Tribunal as directed under the Act itself. Therefore without prejudice to the said right, this writ petition is dismissed. S.SIRI JAGAN, JUDGE rhs