IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE J.B.KOSHY & THE HONOURABLE MR. JUSTICE P.N.RAVINDRAN MONDAY, THE 7TH JULY 2008 / 16TH ASHADHA 1930 WA.No. 1403 of 2008() ----------------------------- AGAINST THE JUDGEMENT/ORDER IN WPC.16953/2008 Dated 01/07/2008 .................... APPELLANT/ PETITIONER ------------------------------------- K.SURESH KUMAR, MANAGING PARTNER, M/S.ABHIRAMI JEWEL PARADISE, MAIN ROAD, NOORANAD. BY ADV. SRI.P.A.MOHAMMED SHAH RESPONDENTS/RESPONDENTS ---------------------------------------------- 1. STATE BANK OF TRAVANCORE, REPRESENTED BY ITS CHAIRMAN, THIRUVANANTHAPURAM. 2. STATE BANK OF TRAVANCORE, NOORNAD BRANCH REPRESENTED BY IT'S BRANCH MANAGER. 3. AUTHORIZED OFFICER (CHIEF MANAGER), STATE BANK OF TRAVANCORE, NOORNAD. BY ADV. SRI. SATHISH NINAN – R1 TO R3. THIS WRIT APPEAL HAVING COME UP FOR ADMISSION ON 07/07/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: J.B.Koshy & P.N.Ravindran, JJ. ===================== W.A.No.1403 of 2008 ===================== Dated this the 7th day of July, 2008. JUDGMENT Koshy,J. The petitioner challenges the proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act 2002. The respondents had sought to recover the amount due from the petitioner to the bank by coercive means. The writ petitioner filed the Writ Petition requesting for time for payment of the amount and the time asked by him was allowed. But he was not able to pay the amount due to the bank in time or extended the time. Therefore, the learned single Judge dismissed the Writ Petition on the ground that there is no bonafides on the part of the petitioner. 2. The writ petitioner says that he will pay the amount due to the bank before 13.7.2008. The immovable property in which the petitioner was conducting the business in jewellery and theatre was sold in auction. But sale certificate was not issued as WA 1403/08 -: 2 :- the Writ Petition was pending. It is the contention of the petitioner that definitely he will pay the amount on or before 12.7.2008. He stated that his mother and himself were hospitalised and the employees of the theatre identified a person for taking over the business. In these circumstances, the sale certificate shall not be issued till 15.7.2008. If the petitioner is able to pay the entire amount on or before 12.7.2008, the petitioner can file a petition as provided under the Act before the authorities for setting aside the sale and till 15.7.2008, the sale certificate shall not be issued. The Writ Appeal is disposed of as above. J.B.Koshy, Judge. P.N.Ravindran, Judge. ess 8/7