IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN FRIDAY, THE 6TH FEBRUARY 2009 / 17TH MAGHA 1930 WP(C).No. 4004 of 2009(B) --------------------------------------- PETITIONER(S): ------------------------ 1. SRI.N.S.GOPAKUMAR,S/O.SREEDHARAN PILLAI, GOPA MANDIRAM, KAREECODE, MANGAD PO, KOLLAM DISTRICT. 2. SRI. JAYA MOHAN POTTY,PUTHEN MADOM, ASRAMOM, KOLLAM. BY ADV. MR.B.MOHANLAL RESPONDENT(S): ---------------------------- 1. THE AUTHORIZED OFFICER, (REGIONAL MANAGER IN CHARGE) KERALA STATE CO-OPERATIVE BANK, THIRUVANANTHAPURAM REGIONAL OFFICE, THIRUVANANTHAPURAM. 2. THE KERALA STATE CO-OPERATIVE BANK LTD., THIRUVANANTHAPURAM, REPRESENTED BY ITS MANAGING DIRECTOR THIRUVANANTHAPURAM. 3. THE BRANCH MANAGER, KERALA STATE CO-OPERATIVE BANK LTD., WATER AUTHORITY BUILDING, ANANDAVALEESWARAM,KOLLAM. 4. THE JOINT REGISTRAR (ARBITRATOR) KERALA STATE CO-OPERATIVE BANK LTD., THIRUVANANTHAPURAM. R1 TO R4 BY GOVERNMENT PLEADER MR. K.C.SANTHOSHKUMAR THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 06/02/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: Kss THOTTATHIL B RADHAKRISHNAN, J ........................................... WP(C).NO. 4004 OF 2009 ............................................ DATED THIS THE 6TH DAY OF FEBRUARY, 2009 JUDGMENT Petitioners face proceedings under the SARFAESI Act. Possession notice has been issued and sale notice had also been issued. Sale notice is dated 5.1.2009. The petitioner, therefore, has sufficient remedy before the Debt Recovery Tribunal by recourse to Section 17 of the SARFAESI Act. The plea attempted to be canvassed is that as on 28.2.2009, the petitioners need pay only Rs.6,17,621/- under One Time Settlement Scheme and that the petitioners may be permitted to pay that amount in instalments. This is clearly impermissible because the total amount due as on 28.2.2009 is Rs.15,66,591/- and the amount due even in July, 2000 was Rs.5,22,451/-. The offer in Ext.P5 is only that if the petitioners pay an amount of Rs.6,17,621/- before 29.2.2009, that may bring it under the One Time Settlement Scheme. In the aforesaid context, this writ petition is dismissed, preserving the right of the petitioners to move the Debt Recovery Tribunal, if so advised. THOTTATHIL B RADHAKRISHNAN, JUDGE lgk