IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.K.ABDUL REHIM THURSDAY, THE 3RD DECEMBER 2009 / 12TH AGRAHAYANA 1931 WP(C).No. 24298 of 2009(F) -------------------------------------- PETITIONER(S): ----------------------- Z. RIYAS, S/O.ZACHARIYA, THALKADA HOUSE, AL-AMEEN NAGAR, IRAVIPURAM PO, KOLLAM. BY ADV. MR.P.K.MUHAMMED RESPONDENT(S): ------------------------- 1. THE MANAGER, THE QUILON CO-URBAN BANK LTD,(EVENING BRANCH) KOLLAM. 2. THE ASSISTANT REGISTRAR, ARBITRATION -CUM-SPECIAL SALE OFFICER, THE QUILON CO-URBAN BANK LTD, KOLLAM. R1 BY MR.N.DHARMADAN, SENIOR ADVOCATE, SMT.D.P.RENU. THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 03/12/2009,THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: WP(C) NO. 24298/2009-F APPENDIX PETITIONER'S EXHIBITS: EXT.P1: COPY OF THE NOTICE DATED 24/04/2008 ISSUED BY THE SECOND RESPONDENT. EXT.P2: COPY OF THE REPLY NOTICE DATED 30/06/2009 TO EXHIBIT-P1 NOTICE. EXT.P3: COPY OF THE LETTER ISSUED TO THE PETITIONER BY THE SECOND RESPONDENT DATED 10/12/2007. EXT.P4: COPY OF THE REGISTERED LAWYER'S NOTICE DATED 18/06/2008 ISSUED BY PETITIONER TO 2ND RESPONDENT. EXT.P5: COPY OF THE POSTAL RECEIPTS FOR SENDING THE NOTICES. EXT.P6: COPY OF THE ACKNOWLEDGEMENT CARDS SIGNED BY THE 1ST AND SECOND RESPONDENTS. RESPONDENT'S EXHIBITS: NIL //TRUE COPY// P.S. TO JUDGE rs. C.K. ABDUL REHIM, J. - - - - - - - - - - - - - - - - - - - - - - - W.P.(C)No. 24298 of 2009 - - - - - - - - - - - - - - - - - - - - - - - Dated this the 3rd day of December, 2009 J U D G M E N T 1. Challenge in this writ petition is against proceedings initiated under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) against immovable property which is the secured asset, with respect to a loan transaction availed by the petitioner from the 1st respondent. The proceedings is only at the stage of notice under Section 13 (2). The petitioner had raised objections against the said notice. If the Bank is proceeding with further steps the petitioner has got an effective statutory remedy. Therefore the issue cannot be resolved in this writ petition. Further the petitioner had failed to comply with the conditions imposed by this court through order dated 25.08.2009. W.P.(C)No. 24298 of 2009 -2- 2. Under the above circumstances the writ petition is dismissed without prejudice to rights if any available to the petitioner under Section 17 (1)of the SARFAESI Act. C.K. ABDUL REHIM JUDGE shg/