IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.K.ABDUL REHIM FRIDAY, THE 4TH MARCH 2011 / 13TH PHALGUNA 1932 WP(C).No. 3384 of 2011(W) ------------------------- CMP.2238/2010 of C.J.M.,TRIVANDRUM .................... PETITIONER(S): --------------- 1. V.S.RAJESH, PROP:SREE KRISHNA ENTERPRISES, HARI GOWRI, 4P4/272(B) SREE KRISHNA GARDEN, MALAYINKEEZHU, TRIVANDRUM. 2. P.K.NANDAKUMAR, PORP:M/S.KRISHNAMATHI INDUSTRIES, HARI GOWRI, MO4/272(B), SREEKRISHNA GARDEN, MALAYINKEEZHU,THIRUVANANTHAPURAM. 3. V.S.SINDHU, W/O.P.K.NANDAKUMAR, DO. DO. BY ADV. SRI.M.RAMASWAMY PILLAI SRI.P.M.JOSEPH RESPONDENT(S): --------------- 1. THE FEDERAL BANK LTD., PAPPANAMCODE BRANCH,TRIVANDRUM REPRESENTED BY ITS BRANCH MANAGER-695018. 2. THE AUTHORIZED OFFICER & CHIEF MANAGER, FEDERAL BANK, PAPPANAMCODE BRANCH, TRIVANDRUM-695018. ADV. SRI.A.ANTONY FOR R1 SMT.LEELAMMA ANTONY FOR R1 THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 04/03/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: C.K.ABDUL REHIM, J --------------------------------------- W.P(C) No.3384 of 2011-W ---------------------------------------- Dated this the 4th day of March, 2011. J U D G M E N T Challenge in this writ petition is against the proceedings initiated under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act). Eventhough this Court was not inclined to entertain this writ petition, an interim stay was granted against dispossession of the petitioners from the property for a period of ten days, subject to condition of the petitioners remitting a sum of Rs.10 lakhs within ten days from 21.2.2011. In a statement filed on behalf of the respondent Bank it is mentioned that the total amount due will come around Rs.49.78 lakhs. 2. Today, when the matter was taken up for consideration, it is submitted by the learned counsel for the petitioners that the petitioners could not comply with the conditions stipulated. 3. Under the above circumstances, I am not inclined W.P(C) No.3384 of 2011-W 2 to entertain this writ petition any further. However, it is made clear that rights of the petitioners to invoke the statutory remedy if any available under law is hereby reserved. Accordingly, the writ petition is dismissed without prejudice to rights, if any available to the petitioners to invoke statutory remedy. C.K.ABDUL REHIM JUDGE ab