IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN FRIDAY, THE 4TH JULY 2008 / 13TH ASHADHA 1930 WP(C).No. 13788 of 2008(N) -------------------------- PETITIONER: ------------ S.UNNIKRISHNAN, S/O.SUKUMARAN, UNNI NIVAS, KOLLAMKONAM, VILAPPILSALA P.O., THIRUVANANTHAPURAM. BY ADV. SRI.AVM.SALAHUDIN SMT.R.VIJAYAKUMARI RESPONDENTS: ------------- 1. THE MANAGER, STATE BANK OF INDIA, KOTTUKAL BRANCH, THIRUVANANTHAPURAM. 2. THE AUTHORISED OFFICER, REGIONAL OFFICE, STATE BANK OF INDIA, LMS BUILDING, LMS COMPOUND, MUSEUM JN., THIRUVANANTHAPURAM. 3. THE CHIEF GENERAL MANAGER, STATE BANK OF INDIA, LOCAL HEAD OFFICE, THAMPANUR, THIRUVANANTHAPURAM. BY ADV. SRI.K.K.CHANDRAN PILLAI FOR R1 TO 3 THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 04/07/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: PETITIONER'S EXHIBITS: W.P.C.NO. 13788/2008. ------------------------------------------------------------------- EXT.P1 TRUE COPY OF NOTICE DT. 19-9-2007. EXT.P2 NOTICE DT. 19-9-2007. EXT.P3 REPRESENTATION DT. 26-4-2008. [TRUE COPY] P.S TO JUDGE. S. Siri Jagan, J. =-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-=-= W. P (C) No. 13788 of 2008 =-=-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-= Dated this, the 4th July, 2008. J U D G M E N T The petitioner challenges proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 initiated by the respondents for recovery of defaulted loan amounts due from the petitioner to the respondents. 2. Originally, I had granted a stay on condition that the petitioner pays an amount of Rs. 50,000/- within one month. That amount was paid. However, I refused to extend the stay further in view of the averments in the counter affidavit filed by the respondents. Counsel for the petitioner now confines his prayer for a direction to the 3rd respondent to consider and pass orders on Ext. P3 expeditiously and to stay further coercive proceedings till orders are thus passed. 3. I have heard the learned standing counsel for the Bank, who stoutly opposes the prayer. Quoting from the statement, he would submit that the petitioner has not come before this Court with clean hands and therefore the petitioner is not entitled to any reliefs. Of course, the petitioner has filed a reply affidavit denying these allegations. Counsel for the Bank also submits that the Bank has already taken possession of the security interest. Whatever that be, I dispose of this writ petition with a direction to the 3rd respondent to consider and pass orders on Ext. P3 as expeditiously as possible, at any rate, within two weeks from the date of receipt of a copy of this judgment. Till orders are passed on Ext. P3, further proceedings pursuant to Exts. P1 and P2 shall be kept in abeyance. The petitioner shall forward a certified copy of this judgment W.P.C. No. 13788/2008. -: 2 :- along with a copy of the writ petition to the 3rd respondent for compliance. Sd/- S. Siri Jagan, Judge. Tds/