IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.K.ABDUL REHIM FRIDAY, THE 17TH DECEMBER 2010 / 26TH AGRAHAYANA 1932 WP(C).No. 34409 of 2010(A) --------------------------------------- PETITIONER(S): ----------------------- 1. JOSE K.THOMAS, AGED 45 YEARS, S/O.THOMAS, VALIAVEETTIL KUTTIYANICKAL, ARUVITHARA P.O., ERATTUPETTA VILLAGE, MEENACHIL TALUK, KOTTAYAM-686 122. 2. ANCY JOSE, AGED 34 YEARS, W/O.JOSE K.THOMAS, VALIAVEETTIL KUTTIYANICKAL, ARUVITHARA P.O., ERATTUPETTA VILLAGE, MEENACHIL TALUK, KOTTAYAM-686 122. BY ADV. SRI.NISHIN GEORGE VIJAYABABU RESPONDENT(S): -------------------------- THE FEDERAL BANK LTD., KANJIRAPPALLY BRANCH, KOTTAYAM-686 507, REPRESENTED BY ITS CHIEF MANAGER & AUTHORISED OFFICER. R1 BY ADV. SRI.MOHAN JACOB GEORGE SMT.P.V.PARVATHI SMT.REENA THOMAS SRI.L.RAM MOHAN THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 17/12/2010, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: sts C.K.ABDUL REHIM, J. ------------------------------------------- W.P.(C).No.34409 of 2010 ------------------------------------------- Dated this the 17th day of December, 2010 J U D G M E N T ---------------------- This writ petition is filed with a prayer to permit the petitioner to remit the amounts due to the respondent bank under a loan account availed by the petitioners on protest, and further to direct the respondent bank to hand over all the documents pertaining to the secured assets. It is submitted that challenging the proceedings initiated under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) the petitioners had already approached the Debts Recovery Tribunal invoking Section 17(1), and S.A.No.573/09 is pending disposal before that Tribunal. According to the petitioners, they have got serious disputes regarding correctness of the amount demanded by the bank. At the same time the petitioners want to pay off the liability subject to their rights to pursue the challenges before the Debts Recovery Tribunal and also to get the documents of title returned from the bank. W.P.(C).34409/10 -2- 2. Heard, standing counsel appearing for the respondent bank. It is submitted that the respondent bank has no objection in accepting the amount and to close the loan account and to return the title deed and other documents pertaining to the secured asset. 3. The above submission is recorded and the writ petition is closed accordingly. The challenge raised by the petitioners in the securitisation application pending before the DRT is left open to be pursued. 4. It is always left open to the respondent bank to contest maintainability of the said matter before the DRT. C.K.ABDUL REHIM, JUDGE. okb