IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.K.ABDUL REHIM FRIDAY, THE 12TH NOVEMBER 2010 / 21ST KARTHIKA 1932 WP(C).No. 34193 of 2010(Y) ---------------------------------- PETITIONER(S): ------------------- 1. K.SUDEVAN,'POURNAMI',SURABHI NAGAR, PUDUSSERY,PALAKKAD 678 007. 2. SUDHA,W/O.K.SUDEVAN,'POURNAMI', SURABHI NAGAR,PUDUSSERY,PALAKKAD 678 007. BY ADVS. SRI.V.V.ASOKAN SRI.R.JAIKRISHNA RESPONDENT(S): -------------------- 1. INDIAN BANK,REP.BY BRANCH MANAGER, COURT ROAD,PALAKKAD 678 001. 2. CHIEF MANAGER & AUTHORIZED OFFICER, INDIAN BANK,CIRCLE OFFICE, PB NO.3573, CHITTOOR ROAD, ERNAKULAM 682 035. R1 & R2 BY ADV. SRI.S.EASWARAN, SC. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 12/11/2010, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: svs C.K. ABDUL REHIM, J ------------------------------- WP(C) NO. 34193 OF 2010 ------------------------------------- Dated this the 12th day of November, 2010 JUDGMENT Challenge in this Writ Petition is against steps initiated under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act). It is noticed that the respondent Bank had only issued Ext.P2 notice under Section 13 (2) of the SARFAESI Act. Since the statute provides effective remedy against the demand under Section 13 (2), I am inclined to entertain this Writ Petition. 2. Learned counsel for the petitioner submits that the petitioners are ready to pay off the liability within a reasonable time in instalments. Considering such request, I am of the view that the petitioner can be permitted to approach the respondents through objections/representations in reply to the Ext.P2 notice, eventhough the time of 60 days stipulated under Section 2 WP(C) No. 34193/2010 13 (3) had already expired. This is especially because, it is evident that the respondent Bank had not proceeded with any further steps as on today. 3. Therefore, the Writ Petition is disposed of directing the petitioner to submit appropriate representation before the respondents seeking time for effecting payment in a phased manner, within a period of one week from the date of receipt of a copy of this judgment. If any such representation is filed by the petitioner within the time stipulated, the respondents shall consider the same and take an appropriate decision. 4. Needless to say that further proceedings can be pursued only after taking such decision and after communicating the same to the petitioner. C.K. ABDUL REHIM JUDGE dnc