IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN MONDAY, THE 13TH OCTOBER 2008 / 21ST ASWINA 1930 WP(C).No. 27842 of 2008(M) -------------------------- PETITIONER(S): --------------- ABDUL AZIZ T.K., HOUSE NO.21/451, HILAL, VELLAPPALLY LANE, KOTTAYAM. BY ADV. SMT.S.MUMTAZ RESPONDENT(S): --------------- 1. THE FEDERAL BANK LTD., REPRESENTED BY ITS MANAGER, CHINGAVANAM BRANCH, KOTTAYAM. 2. THE FEDERAL BANK LTD., REPRESENTED BY THE AUTHORISED OFFICER, REGIONAL OFFICE, ALWAYE. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 13/10/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: THOTTATHIL B.RADHAKRISHNAN, J. ------------------------------------------- W.P(C).No.27842 OF 2008 & I.A.NO.12375 OF 2008 ------------------------------------------- Dated this the 13th day of October, 2008 JUDGMENT The first respondent Federal Bank issued Ext.P1 in August, 2008 for sale of different items of properties to recover outstandings to the tune of Rs.1,06,41,460.90 as on 26.6.2008, with further accruals. Against that notice, under Section 13 (2) of the SARFAESI Act, the petitioner, in his wisdom, choose to file this writ petition and produced Ext.P2 addressed to the Manager of the Bank stating that he is willing to settle the transaction by paying Rs.70 lakhs on One Time Settlement basis. This is a matter that the Bank may or may not consider. Be that as it may, even noticing that there is not much of a legal ground, the anxiety of the petitioner to save the property from distress action prompted this Court to pass an interim order on 19.9.2008, directing to deposit an amount of Rs.25,00,000/- within a period of three weeks and a further amount of Rs.25,00,000/- within a further period of three weeks; on the strength of which, an order WPC.27842/08 Page numbers of stay of seven weeks was granted. Notice was ordered to the Bank before admission. 2. I.A.No.12375/08 is filed on 25.9.2008, supported by the affidavit of the petitioner stating that “as I am intending to move before the Debts Recovery Tribunal for redressal of my grievances, I may kindly granted the permission to withdraw the writ petition.” In the result, this writ petition is dismissed as withdrawn and I.A.No.12375/08 is ordered accordingly. The Office will communicate copy of this judgment to the respondents. Sd/- THOTTATHIL B.RADHAKRISHNAN, Judge kkb.