IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE V.GIRI MONDAY, THE 8TH JUNE 2009 / 18TH JYAISHTA 1931 WP(C).No. 15727 of 2009(I) -------------------------- PETITIONER(S): --------------- 1. INDUS MULTI BUSINESS CENTRE PVT LTD., A COMPANY REGISTERED UNDER THE COMPANIES ACT, HAVING ITS REGISTERED OFFICER, AT 19/2026, F,4TH FLOOR, INDUS AVENUE, KALLAI ROAD, KOZHIKODE, 673 002, REPRESENTED BY ITS MANAGING DIRECTOR, MR. HAMZA P.A., 2. HAMZA P.A. SON OF LATE, ABDULLA HAJI, AGED, RESIDING AT CRESCENT HOUSE, NADAKKAVU P.O., KOZHIKODE. BY ADV. SRI.T.G.RAJENDRAN RESPONDENT(S): --------------- 1. FEDERAL BANK LTD., S.M. SREET BRANCH, KOZHIKODE REPRESENTED BY ITS MANAGER. 2. THE AUTHORISED OFFICER, (CHIEF MANAGER) FEDERAL BANK LTD., REGIONAL OFFICE, FEDERAL TOWERS, MAVOOR ROAD,KOZHIKODE -16. BY GP SRI. P.N.SANTHOSH THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 08/06/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: V.GIRI, J ------------------- W.P.(C).15727/2009 -------------------- Dated this the 8th day of June, 2009 JUDGMENT Petitioners availed a loan from the Bank and according to them, though the loan amount was sanctioned, the Bank disbursed only an amount of Rs.65,000/-. When there was default in the repayment of the same, 2nd respondent initiated proceedings under the Securitisation and Reconstruction of Financial assets and Enforcement of Security Interest Act, (Act 54 of 2002). It seems that the Bank decided to sell the property belonging to the petitioners. In the meanwhile, against the proposed sale of one of the properties which had been offered as a security, petitioners approached the Debt Recovery Tribunal and it seems that the Tribunal had granted stay of sale on conditions. Petitioners submit that the conditions had also been complied with. It further seems that they are prepared to remit the balance amount demanded by the Bank. They have approached the Bank for the W.P.(C).15727/2009 2 title deeds in relation to the property offered as an additional security. 2. This Court cannot issue a writ against the 1st respondent. Moreover, the relationship between the petitioners and the Bank in relation to an additional security is that of a mortgagor and mortgagee. It is open to the petitioners to approach other forum. Without prejudice to the right of the petitioners to do so, writ petition is closed. V.GIRI, Judge mrcs