IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.K.ABDUL REHIM WEDNESDAY, THE 15TH DECEMBER 2010 / 24TH AGRAHAYANA 1932 WP(C).No. 21577 of 2010(V) -------------------------- PETITIONERS:- -------------------- 1. K.S.SANTHOSH LAKSHMI VILASAM, RAYAMANGALAM P.O., PERUMBAVOOR, ERNAKULAM DISTRICT, PIN-683545. 2. SMT.BINDU SANTHOSH, LAKSHMI VILASAM, RAYAMANGALAM P.O., PERUMBAVOOR, ERNAKULAM DISTSRICT PIN-683545. BY ADV. SRI.S.K.BALACHANDRAN SRI.T.P.GEORGE SRI.C.K.SIDHIK RESPONDENTS:- --------------------- 1. GIC HOUSING FINANCE LTD., REPRESENTED BY ITS SENIOR BRANCH MANAGER, 1ST FLOOR, D.NO.XL/5396-A, ELIAS CHAMBERS BANERJI ROAD, COCHIN - 682018. 2. THE AUTHORISED OFFICER, GIC HOUSING FINANCE LTD., 1ST FLOOR, D.NO.XL-5396-A ELIAS CHAMBERS, BANERJI ROAD, COCHIN-18. ADV. SRI.K.JAJU BABU FOR R1 & 2 SMT.M.U.VIJAYALAKSHMI FOR R1 & 2 THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 15/12/2010, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: C.K.ABDUL REHIM, J. = = = = = = = = = = = = = WP(C).No.21577 of 2010-V. = = = = = = = = = = = = = Dated this the 15th day of December, 2010. J U D G M E N T Challenge in this writ petition is against proceedings initiated under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act). When the writ petition came up for admission, this Court was inclined to grant an interim order directing to maintain status quo subject to condition of the petitioners remitting a sum of Rs.50,000/- within one week and another sum of Rs.50,000/- within one week thereafter. The above said interim order was issued on 12.7.2010. It is stated by learned counsel appearing for the respondent that the petitioners have failed to comply with the condition. It is stated that two cheques issued by the petitioner for payment of the amounts were not cleared payment. However, it is contended that the petitioners have remitted WP(C).No.21577/2010-V. 2 a sum of Rs.50,000/- through Demand Draft. 2. Learned counsel for the petitioners submitted that he has no instruction from the petitioners. Under the above circumstance, the writ petition is dismissed. 3. However, it is made clear that this will not prejudice rights if any available to the petitioners for invoking statutory remedy provided under the SARFAESI Act. C.K.ABDUL REHIM, (Judge) Kvs/-