IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN TUESDAY, THE 5TH JULY 2011 / 14TH ASHADHA 1933 WP(C).No. 11307 of 2011(K) --------------------------------------- PETITIONER(S): ------------------------ 1. J.THIRUMOORTHY, FASHIONS HOUSE, SHOP NO.40, GROUND FLOOR, ATTUKAL SHOPPING COMPLEX, FORT P.O., THIRUVANANTHAPURAM, RESIDING AT TC-21/ 288 (UPSTAIR), OPP.RAJA RAJESWARI TEMPLE, NEAR N.S.S.KARAYOGAM, OLD SIDCO GROUND, NEDUMANGADU P.O THIRUVANANTHAPURAM. 2. SARASWATHY.T., W/O.J.THIRUMOORTHY, TC-21/288 (UPSTAIR), OPPOSITE RAJA RAJESWARI TEMPLE, NEAR N.S.S.KARAYOGAM, OLD SIDCO GROUND, NEDUMANGADU P.O., THIRUVANANTHAPURAM. 3. KARTHY.T., TC-21/288 (UPSTAIR), OPPOSITE RAJA RAJESWARI TEMPLE, NEAR N.S.S. KARAYOGAM, OLD SIDCO GROUND, NEDUMANGADU P.O., THIRUVANANTHAPURAM. BY ADV. SRI.RAM MOHAN.G. RESPONDENT(S): --------------------------- 1. THE BANK OF BARODA, REPRESENTED BY ITS CHIEF MANAGER, PALAYAM, THIRUVANANTHAPURAM. 2. THE AUTHORISED OFFICER AND CHIEF MANAGER, BANK OF BARODA, PALAYAM, THIRUVANANTHAPURAM. 3. THE SENIOR BRANCH MANAGER, BANK OF BARODA, FORT BRANCH, KARIMPANAL ARCADE, FORT P.O., THIRUVANANTHAPURAM-695 023. BY THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 05/07/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: sts WP(C)NO.11307/2011 APPENDIX PETITIONER'S EXHIBITS: P1 COPY OF THE NOTICE NUMBER TRIVAN/45/2010/156 DATED 20/11/2010 ISSUED BY THE THIRD RESPONDENT. P2 COPY OF THE NOTICE NO.TRIVAN/ADV/45/2011 DATED 06/01/2011 ISSUED BY THE SECOND RESPONDENT. P3 COPY OF THE NOTICE NO.TRIVAN/ADV/46/2011/213 DATED 21/03/2011 ISSUED BY THE SECOND RESPONDENT. P4 COPY OF THE RECEIPT NOS.568473 FOR RS.16500/- , 875942 FOR RS.50,000/-, 875943 FOR RS.33500 AND 875944 FOR RS.1,00,000/- DATED 07/06/2011 EVIDENCING PAYMENT OF RS.2,00,000/- TO THE FIRST RESPONDENT BANK. RESPONDENT'S EXHIBITS: NIL /TRUE COPY/ P.A.TO.JUDGE sts S. SIRI JAGAN, J. ------------------------------------------- W.P.(C) No. 11307 OF 2011 ---------------------------------------------- Dated this the 5th day of July, 2011 JUDGMENT The petitioners are challenging proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act initiated by the respondents against the petitioner for recovery of loan amounts due from the petitioners to the bank. The petitioners do not dispute the liability to pay or the quantum. The petitioners only seek time to pay off the amounts. This Court passed following interim orders in this writ petition; On 7.4.2011, “Urgent notice on admission to respondents by speed post returnable within two weeks. Meanwhile there will be an interim stay against dispossession and sale of the property, if not already dispossessed subject to condition of the petitioner remitting a total amount of Rs.4 lakhs in two equal instalments falling due on or before 30-4-11 and on or before 31.5.11. and On 8.6.2011, “I.A.No.8777/11 In spite of service of notice, nobody appears for the respondent Bank and the W.P.(C)No.11307/11 2 application was not opposed. Considering the fact that the petitioner had already remtited a sum of Rs.2 lakhs, time for payment of the balance amount is extended till 30.6.2011 making it clear that no further extension will be granted under any circumstances and on failure the writ petition wil be dismissed. Post on 5.7.2011. Needless to say that the interim order will continue till then.” Despite granting further time, the petitioners have not been able to satisfy the conditions in the interim order fully. The petitioners seek further time. I am not inclined to grant any further indulgence to the petitioners in the matter. It is settled law that proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, if aggrieved by any party, should be taken up in an appeal before the Debt Recovery Tribunal as provided under the Act. In the above circumstances, this writ petition is dismissed with the above liberty. Dismissal of the writ petition will not stand in the way of the petitioners to approach the bank for appropriate reliefs. S. SIRI JAGAN, JUDGE acd W.P.(C)No.11307/11 3 W.P.(C)No.11307/11 4