IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN WEDNESDAY, THE 4TH MARCH 2009 / 13TH PHALGUNA 1930 WP(C).No. 7041 of 2009(A) ------------------------- PETITIONER(S): --------------- SUBRAMANIAN.K.V., S/O.VELAYUDHAN, KAIPAPLACKAL HOUSE, KOTTAT, WEST CHALAKUDY, TRICHUR. BY ADV. SRI.K.S.RAJESH RESPONDENT(S): --------------- 1. THE KERALA STATE CO-OPERATIVE BANK LTD., REGIONAL OFFICE, DORAISWAMY IYER ROAD, KOCHI-35, REP.BY ITS REGIONAL MANAGER. 2. THE MANAGER, THE KERALA STATE CO-OPERATIVE BANK LTD., THRISSUR BRANCH. 3. THE REGISTRAR OF CO-OPERATIVE SOCIETIES, THIRUVANANTHAPURAM. 4. THE AUTHORISED OFFICER, THE KERALA STATE CO-OPERATIVE BANK LTD., REGIONAL OFFICE, DORAISWAMY IYER ROAD, KOCHI-35. 5. K.K.VELAYUDHAN, KAIPAPLACKAL HOUSE, KOTTAT, WEST CHALAKUDY, TRICHUR. ADV. SRI.NAGARAJ NARAYANAN,SC,K.S.CO-OP BANK FOR R1 TO 4 THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 04/03/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: THOTTATHIL B RADHAKRISHNAN, J ........................................... WP(C).NO. 7041 OF 2009 ............................................ DATED THIS THE 4TH DAY OF MARCH, 2009 JUDGMENT The petitioner challenges Ext.P3 measure taken under the SARFAESI Act. The petitioner has efficacious alternate remedy against that, under Section 17 of the SARFAESI Act. Petitioner, however, also points out that he has made remittances evidenced by Ext.P2, after issuance of notice under Section 13(2). He accordingly seeks that the transaction may be regularised. 2. Learned counsel for the bank states that bank is prepared to extend One Time Settlement Scheme and not any other benefit. It is for the petitioner to move the bank and seek appropriate relief or challenge the securitization proceedings before the Debt Recovery Tribunal. Without prejudice to either course, this writ petition is dismissed. THOTTATHIL B RADHAKRISHNAN, JUDGE lgk/6/3