IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN TUESDAY, THE 25TH AUGUST 2009 / 3RD BHADRA 1931 WP(C).No. 26866 of 2008(W) ---------------------------------------- PETITIONER(S): --------------------- M.P. VILASINI, W/O.SIVARAMAN, HASHIM QUARTERS, NEAR RAMAGURU SCHOOL, CHIRAKKAL P.O., KANNUR. BY ADV. MR.O.V.MANIPRASAD RESPONDENT(S): ------------------------- 1. INDIAN BANK, REPRESENTED BY THE BRANCH MANAGER, PAPPINISSERY BRANCH, P.O.PAPPINISSERY, KANNUR- 670 561. 2. THE CHIEF MANAGER, INDIAN BANK, P.B.NO.23, COURT ROAD, KANNUR- 670 001, (AUTHORISED OFFICER UNDER THE SECURITISATION & RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY INTEREST ACT). BY ADV. MR.S.EASWARAN. THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 25/08/2009,THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: WP(C) NO. 26866/2008-W APPENDIX PETITIONER'S EXHIBITS: EXT.P1: COPY OF THE CERTIFICATE OF REGISTRATION AS SICK UNIT NO.B5.5950/94 DATED 20/11/94 ISSUED BY THE DISTRICT INDUSTRIES CENTRE, KANNUR. EXT.P2: COPY OF THE LOAN SANCTION TICKET DATED 07/11/1991. EXT.P3: COPY OF THE E.P. NO.38/2000 BEFORE THE SUB COURT, THALASSERY. EXT.P4: COPY OF THE CERTIFICATE DATED 15/09/2001 ISSUED BY THE DISTRICT MANAGER, K.F.C. KANNUR. EXT.P5: COPY OF THE NOTICE DATED 27/03/2008 ISSUED BY THE 2ND RESPONDENT TO THE PETITIONER. EXT.P6: COPY OF THE REPLY NOTICE DATED 17/06/2008 FROM THE FIRST RESPONDENT BANK. EXT.P7: COPY OF THE REQUEST DATED 20/06/2008 MADE BY THE PETITIONER'S HUSBAND TO THE FIRST RESPONDENT BANK. EXT.P8: COPY OF THE LETTER DATED 25/06/2008 FROM THE FIRST RESPONDENT BANBK TO THE PETITIONER'S HUSBAND. EXT.P9: COPY OF THE REQUEST DATED 07/08/2008 MADE BY THE PETITIONER BEFORE THE FIRST RESPONDENT BANK. EXT.P10: COPY OF THE POSSESSION NOTICE DATED 06/08/2008 FROM THE 2ND RESPONDENT ISSUED UNDER THE SECURITY INTEREST (ENFORCEMENT) RULES 2002. EXT.P11: COPY OF THE NOTICE DATED 11/08/2008 PUBLISHED IN MLAYALA MANORAMA DAILY DATED 12/08/2008. RESPONDENT'S EXHIBITS: NIL //TRUE COPY// P.S. TO JUDGE rs. S. Siri Jagan, J. =-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-=-= W. P (C) No. 26866 of 2008 =-=-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-= Dated this, the 25th August, 2009. J U D G M E N T The petitioner is challenging proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. 2. At the time of admission, I granted an interim order of stay for a period of one month on condition that the petitioner pays an amount of Rs. 4 lakhs within that time. The petitioner has not paid that amount and the stay has also not been extended further. The matter was therefore considered on merits. Insofar as what is under challenge in this writ petition is proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, the same is not maintainable since the remedy of the petitioner lies in challenging the same in an appeal before the Debt Recovery Tribunal as provided in the Act itself. Therefore, without prejudice to that right, this writ petition is dismissed. S. Siri Jagan, Judge. Tds/