IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.K.ABDUL REHIM THURSDAY, THE 14TH OCTOBER 2010 / 22ND ASWINA 1932 WP(C).No. 31434 of 2010 (D) -------------------------- PETITIONERS: -------------------- 1. SANTHOSHKUMAR.V.P, S/O.PURUSHOTHAMAN, VAVAKKAT HOUSE, CHARAMANGALAM, MUHAMMA PO, ALAPPUZHA DISTRICT. 2. SOLY MOL, W/O.SANTHOSHKUMAR.V.P, AVAKKAT HOUSE, CHARAMANGALAM, MUHAMMA PO, ALAPPUZHA DISTRICT. BY ADVS. SRI.S.SANAL KUMAR SMT.BHAVANA VELAYUDHAN RESPONDENTS: ------------------------ 1. THE MANAGER, FEDERAL BANL LIMITED, PUTHANANGAADI BRANCH, MUHAMMA PO, ALAPPUZHA DISTRICT, PIN 688 525. 2. THE CHIEF MANAGER,REGIONAL OFFICE, FEDERAL BANK LIMITED, SREE RAJARAJESWARI BUILDING, CHURCH ROAD, MULLAKKAL PO 688 011, ALAPPUZHA. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 14/10/2010, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: VK C.K.ABDUL REHIM, J --------------------------- W.P(C) No.31434 of 2010-D ---------------------------- Dated this the 14th day of October, 2010. J U D G M E N T It is noticed that the proceedings initiated under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) is only at the stage of issuing notice under Section 13(2). On receipt of Ext.P4 notice, the petitioners submitted a request for settlement of the loan account by realising one item of the property along with secured assets. It is evident from Ext.P7 that on the basis of such request the petitioners were invited for a discussion. There is no evidence to show that any further proceedings has been taken from the side of the respondent. Under the above circumstances, I am of the opinion that the petitioners can seek further remedies by approaching the appropriate authority under the respondent. Without prejudice to the rights of the petitioner to pursue the matter before the respondent Bank, this writ petition is dismissed. C.K.ABDUL REHIM JUDGE ab