IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.K.ABDUL REHIM FRIDAY, THE 3RD DECEMBER 2010 / 12TH AGRAHAYANA 1932 WP(C).No. 34955 of 2010(T) -------------------------- PETITIONER(S): --------------- BALAN T.P., S/O.CHATHU, "SHTUTHIVEK', KUNNUMMAKKARA P.O., VATAKARA, KOZHIKODE DISTRICT, PIN - 673 308. BY ADV. SRI.N.K.SUBRAMANIAN SRI.S.ANANTHAKRISHNAN RESPONDENT(S): --------------- 1. KOZHIKODE DISTRICT CO-OPERATIVE BANK LTD., REG.NO.F 1635, HEAD OFFICE, P.B.NO.503, P.O.CHELAPPURAM, KOZHIKODE - 673 002. 2. THE AUTHORIZED OFFICER/SENIOR MANAGER, KOZHIKODE DISTRICT CO-OPERATIVE BANK LTD., KALLAI ROAD, CALICUT - 673 002. 3. THE ARBITRATOR/SPECIAL SALE OFFICER, IN THE COURT OF JOINT REGISTRAR OF CO-OPERATIVE SOCIETIES, KOZHIKODE, KALLAI ROAD, CALICUT - 673 002. 4. STATE OF KERALA, REPRESENTED BY ADDITIONAL CHIEF SECRETARY, CO-OPERATION (B) DEPARTMENT, GOVERNMENT SECRETARIAT, THIRUVANANTHAPURAM. STANDING COUNSEL.SRI.P.V.KUNHIKRISHNAN THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 03/12/2010, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: C.K. ABDUL REHIM, J ------------------------------- WP(C) NO. 34955 OF 2010 ------------------------------------- Dated this the 3rd day of December, 2010 JUDGMENT Limited grievance of the petitioner is that the 2nd respondent is proceeding with coercive steps under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act), without taking a decision on the basis of Ext.P10 objection submitted by the petitioner. Ext.P9 notice issued under the provisions of the 13 (2) of the SARFAESI Act. 2. Consequent to default committed in repayment of loan availed by the petitioner from the first respondent Bank, proceedings under the SARFAESI Act was initiated by the 2nd respondent against immovable property which is the secured asset. Ext.P9 is the notice issued under Section 13 (2). On receipt of Ext.P9, the petitioner had submitted objections as evidenced from Ext.P10. Under Section 13 (3) (a) the 2nd respondent is bound to consider 2 WP(C) No. 34955/2010 such objection and to take appropriate decision thereof and further to intimate the same to the petitioner. Apprehension of the petitioner is that without considering such objection steps as contemplated under Section 13 (4) will be taken and in such case the petitioner will be put to severe prejudice. 3. Learned counsel appearing for respondents 1 and 2 had submitted that the 2nd respondent is in seizin of the matter. After considering Ext.P10 a decision will be taken and intimated to the petitioner. 4. The above submission is recorded and the Writ Petition is disposed of accordingly. It is made clear that the respondent will continue any further proceedings only after intimating the decision which will be taken, to the petitioner. C.K. ABDUL REHIM JUDGE dnc