IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN TUESDAY, THE 13TH DECEMBER 2011 / 22ND AGRAHAYANA 1933 WP(C).No. 33175 of 2011(V) ---------------------------------- PETITIONER(S): ------------------- M/S.PESCADOS SEBEL EXPORTS PRIVATE LIMITED, REGD.OFFICE 18/1555, PALLICHAL ROAD, COCHIN-682 005, REPRESENTED BY ITS MANAGING DIRECTOR. BY SRI.GEORGE THOMAS (MEVADA), SENIOR ADVOCATE RESPONDENT(S): -------------------- 1. THE BANK OF INDIA, ERNAKULAM BRANCH, SHANMUGHAM ROAD, ERNAKULAM, COCHIN-31. 2. THE AUTHORISED OFFICER, BANK OF INDIA, ZONAL OFFICE, KALOOR TOWERS, COCHIN-17. R1 & 2 BY ADV. SRI.P.P.JOYI THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 13/12/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: svs W.P.(C). NO. 33175/2011 APPENDIX PETITIONER'S EXHIBITS: P1: COPY OF THE LETTER DATED 19.03.2009. P2: COPY OF THE LETTER DATED 22.03.2011. P3: COPY OF THE LETTER DATED 30.03.2011. P4: COPY OF THE LETTER DATED 11.05.2011. P5: COPY OF THE LETTER DATED 28.07.2011. P6: COPY OF THE LETTER DATED 28.07.2011. P7: COPY OF THE LETTER DATED 10.08.2011. P8: COPY OF THE LETTER DATED 04.10.2011. P9: COPY OF THE LETTER DATED 20.10.2011 P10: COPY OF THE LETTER DATED 17.11.2011. RESPONDENT'S EXHIBITS: NIL /TRUE COPY/ P.A. TO JUDGE. svs S. Siri Jagan, J. =-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-=-= W.P(C) No. 33175 of 2011 =-=-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-= Dated this, the 13th day of December, 2011. J U D G M E N T The petitioner is aggrieved by initiation of proceedings under the Securitisation & Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 by the respondents for non-payment of loan amounts due from the petitioner to the respondents. The petitioner's contention is that the petitioner has been sanctioned a one time settlement facility and the same has been withdrawn by Ext.P8 for no fault of the petitioner. The petitioner's contention is that the petitioner could not comply with their part of the settlement in view of the circumstances beyond the control of the petitioner, which has been detailed in the writ petition. The petitioner has filed Exts. P9 and P10 before the Chief Manager of the Bank of India in the matter. The petitioner seeks consideration of the same appropriately. 2. I have heard the learned standing counsel for the respondents also. In the facts and circumstances of the case, I dispose of this writ petition with a direction to the Chief Manager, Bank of India, Ernakulam to consider and pass orders on Exts. P9 and P10, after affording an opportunity of being heard to the petitioner, as expeditiously as possible, at any rate, within one month from the date of receipt of a copy of this judgment. Till W.P(C) No. 33175 of 2011 -: 2 :- then, further proceedings under the Securitization Act shall be kept in abeyance. Sd/- S. Siri Jagan, Judge. Tds/