IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.K.ABDUL REHIM WEDNESDAY, THE 1ST JUNE 2011 / 11TH JYAISHTA 1933 WP(C).No. 11462 of 2011(G) ---------------------------------- PETITIONER(S): ------------------- BIBIN PAUL, S/O.P.J.POULOSE, AGED 30 YEARS, POONNELIL FUELS, M.C.ROAD, PULLUVAZHI (P.O.), PERUMBAVOOR. BY ADV. SRI.RAJESH VIJAYENDRAN RESPONDENT(S): --------------------- 1. SYNDICATE BANK, REGIONAL OFFICER, PIONEER TOWERS, SHANMUGHOM ROAD, ERNAKULAM REPRESENTED BY ITS AUTHORIZED OFFICER, PIN - 682 020. 2. THE BRANCH MANAGER, SYNDICATE BANK, PERUMBAVOOR - 682 321. BY ADV. SRI. R.S.KALKURA, SC., THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 01/06/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: svs C.K.ABDUL REHIM, J. --------------------------------------- W.P.(C) No. 11462 OF 2011 --------------------------------------- Dated this the 1st day of June 2011. J U D G M E N T Even though, this court was not inclined to entertain the challenge raised against proceedings initiated under the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act (SURFAESI Act) in view of non-availing of the statutory remedy provided, dispossession of the petitioner from the property was stayed subject to condition imposed for payment of Rs. 15 lakhs in two equal instalments falling due on or before 30.4.2011 and on or before 25.5.2011. 2. It is conceded that the petitioner had effected payment of a sum of Rs. 5 lakhs only, learned counsel for the respondent bank submitted that a co-obligant with respect to the loan transaction had already approached the Debt W.P.(C) No. 11462 of 2011 2 Recovery Tribunal against the interim order of stay granted by that Tribunal against the impugned proceedings. 3. In the above mentioned circumstance, I am not inclined to entertain this Writ Petition any further. However rights if any available to the petitioner to pursue statutory remedy before the DRT will stand reserved. Accordingly this Writ petition is dismissed without prejudice to the rights if any available to the petitioner as stated above. C.K.ABDUL REHIM JUDGE al