IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.K.ABDUL REHIM MONDAY, THE 6TH DECEMBER 2010 / 15TH AGRAHAYANA 1932 WP(C).No. 32644 of 2010(E) -------------------------- PETITIONER(S): --------------- 1. K.K.ELIAS, AGED 50 YEARS, S/O.KURIAKOSE, PADINJARA PARAMBIL HOUSE, KIZHAKKAMBALAM, COCHIN. 2. SIBI.K.J, AGED 27 YEARS, S/O.JOB, PURAYIDATHIL HOUSE, VADAVUKODE P.O., PUTHENCRUZ, ERNAKULAM-683 510. BY ADV. SRI.T.M.ABDUL LATHEEF RESPONDENT(S): --------------- 1. BANK OF INDIA, REPRESENTED BY ITS CHIEF MANAGER, ERNAKULAM. 2. AUTHORIZED OFFICER & CHIEF MANAGER, BANK OF INDIA, KAKKANAD BRANCH, KAKKANAD, ERNAKULAM. ADV. SRI.KODOTH SREEDHARAN - SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 06/12/2010, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: C.K.ABDUL REHIM, J --------------------------------------- W.P(C) No.32644 of 2010-E ---------------------------------------- Dated this the 6th day of December, 2010. J U D G M E N T Challenge in this writ petition is against proceedings initiated under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act). One of the main contention raised is that the immovable property, which is the secured asset now being proceeded against is an agricultural land exempted from the purview of the Act, by virtue of Section 31(i). Further contention is that the classification of the loan account as 'NPA' is not legal and proper. Since both these contentions requires evaluation of disputed factual aspects on the basis of documents and other evidences, in view of the effective alternative remedy provided under the statute, I am of the view that the issue could not be resolved under Article 226 of the Constitution of India. The petitioners will be at liberty to invoke statutory remedy provided under Section 17(1), if permissible under law. W.P(C) No.32644 of 2010-E 2 Therefore the writ petition is dismissed without prejudice to rights of the petitioners to invoke statutory remedy, if permissible under law. Sd/- C.K.ABDUL REHIM JUDGE //True Copy// P.A to Judge ab