THE HON'BLE MR JUSTICE GHULAM MOHAMMED and THE HON'BLE MR JUSTICE K.G.SHANKAR W.P.No.17328 of 2011 ORDER (Per Sri Justice Ghulam Mohammed) The petitioner and his wife availed house loan facility from the respondent Bank in the year 2003. He states that as the said loan was arranged through a Builder, the respondent Bank paid the loan amount directly to the Builder and he has been paying the loan amount regularly. He states that the respondent Bank without serving any notice under Section 13(2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short ‘the Act’) on him, had initiated proceedings under Section 14 of the Act by filing Crl.M.P.No.12 of 2011 before the Chief Metropolitan Magistrate, Cyberabad at L.B.Nagar. Challenging the said proceedings, the petitioner filed the present writ petition. 2. Heard the learned counsel for the petitioner and the respondent-Bank. 3. Learned Standing Counsel for the respondent Bank submitted that the Bank issued possession notice to the petitioner on 26.04.2010. 4. The Hon’ble Supreme Court in SLP (c ) No. 10145 of 2010, dated 26th July 2010 at paragraph 27 of the judgment observed as under: “27. It is a matter of serious concern that despite repeated pronouncement of this Court, the High Courts continue to ignore the availability of statutory remedies under the DRT Act and SRFAESI Act and exercise jurisdiction under Article 226 for passing orders which have serious adverse impact on the right of banks and other financial institutions to recover their dues. We hope and trust that in future the High Courts will exercise their discretion in such matters with greater caution, care and circumspection.” 5. In view of the said judgment of the Apex Court and having regard to the facts and circumstances of the case, since there is an efficacious alternative remedy of filing an appeal under Section 17 of the Act, without going into the merits or otherwise of the matter, we reserve liberty to the petitioner to approach the Debts Recovery Tribunal and to avail the remedy of appeal under Section 17 of the Act, which shall be filed on or before 01.07.2011. Till such time, the respondent Bank is directed not to take any coercive steps with regard to the property in question. 6. Subject to the above, the writ petition is dismissed. No costs. ______________________ GHULAM MOHAMMED, J _______________ K.G.SHANKAR, J Date:23.06.2011 Note: Issue CC by two days. (Bo) sj