IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.K.ABDUL REHIM TUESDAY, THE 28TH JUNE 2011 / 7TH ASHADHA 1933 WP(C).No. 14651 of 2011(F) ------------------------------------ PETITIONER(S): ------------------------- 1. M/S. MALIAKAL PLANTATIONS PVT. LTD., 3/378, MALIAKAL HOUSE, PALLIPORT P.O., REPRESENTED BY ITS MANAGING DIRECTOR, SHAIJU M.G. 2. MR.SHAIJU M.G., AGED 36 YEARS, S/O.GEORGE, 3/378, MALIAKLA HOUSE, PALLIPORT P.O., PIN 683 515, KOCHI TALUK, EKM DISTRICT. 3. SHERBY PETER AGED 40 YEARS, S/O. PETER PANAKKAL HOUSE, KOTTAPURAM P.O, KODUNGALLUR THRISSUR DISTRICT. BY ADV. SRI.P.T.SEBASTIAN TOMY RESPONDENT(S): ------------------------ 1. FEDERAL BANK, BRANCH OFFICE, BANERJI ROAD, ERNAKULAM NORTH, KOCHI 682 018 ERNAKULAM DISTRICT. 2. THE AUTHORISED OFFICER, FEDERAL BANK, ASSET RECOVERY BRNACH FEDERAL TOWERS MARINE DRIVE, KOCHI 682 031. R1 BY ADVS. SRI.A.ANTONY, SMT.LEELAMMA ANTONY . THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 28/06/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: tss W.P.(C) NO.14651/2011 APPENDIX PETITIONER'S EXHIBITS P1:- COPY OF THE NOTICE DTD. 24.1.2011 ISSUED BY THE RESPONDENT UNDER U/S. 13 (2) OF SERFAESI ACT. P2:- COPY OF THE RECEIPT EVIDENING PAYMENT OF RS. 4,50,000/- ON 6.5.2011. P3:- COPY OF THE POSSESSION NOTICE DTD. 10.5.2011 ISSUED BY THE RESPONDENT. RESPONDENT'S EXHIBITS NIL:- TRUE COPY P.A. TO JUDGE tss C.K.ABDUL REHIM, J. ------------------------------- W.P.(C).No.14651 of 2011 ------------------------------- Dated this the 28th day of June, 2011. J U D G M E N T Considering the effective alternative remedy provided under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act), this Court was not inclined to entertain this writ petition. However, dispossession of the petitioner from the property was directed to be kept in abeyance, subject to condition of the petitioner remitting a sum of Rs.30 lakhs on or before 25.6.2011. 2. It is conceded that the stipulation has not been complied with. Learned counsel for the respondent Bank submitted that the total outstanding is around Rs.2 crores. 3. Under the above mentioned circumstances, I am not inclined to entertain this writ petition in exercise of the discretionary jurisdiction vested on this Court, in favour of the petitioner. Accordingly, the writ petition is dismissed. C.K.ABDUL REHIM, Judge ami/