IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.K.ABDUL REHIM TUESDAY, THE 4TH JANUARY 2011 / 14TH POUSHA 1932 WP(C).No. 172 of 2011(V) ------------------------ PETITIONER:- ------------------ V.S. RAGHAVAN NAIR, S/O. SANKARAN NAIR, 395/VII, VAKKAPPULATH HOUSE, P.O. THADANEL, PALAM, KOTTAYAM. BY ADV. SRI.MANSOOR.B.H. RESPONDENTS:- --------------------- 1. AUTHORISED OFFICER, SYNDICATE BANK, KANNUR MAIN BRANCH, FORT ROAD, KANNUR - 670 001. 2. CHIEF MANAGER, SYNDICATE BANK, KANNUR MAIN BRANCH, FORT ROAD, KANNUR - 670 001. 3. U. MOHANAN, MANAGING PARTNER, SRI. RAJARAJESWARI ENGINEERING & CONSTRUCTION, BUILDING NO. 213/111, SREENILAYAM,P.O.MOOTAMMEL, KANNUR DISTRICT. 4. TWINKLE RAJ, PARTNER, SRI. RAJARAJESWARI ENGINEERING & CONSTRUCTION, BUILDING NO. 213/111, SREENILAYAM.P.O, MOOTAMMEL, KANNUR DISTRICT. BY SC SRI.R.S.KALKURA FOR SYNDICATE BANK. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 04/01/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: C.K.ABDUL REHIM, J. = = = = = = = = = = = = WP(C).No.172 of 2011-V. = = = = = = = = = = = = Dated this the 4th January, 2011. J U D G M E N T Challenge in this writ petition is against Ext.P2 notice issued under Rule 8(5) and (6) of the Security Interest (Enforcement) Rules, 2002. By the said notice steps for conduct of sale of the property is initiated. 2. It is noticed that the petitioner has got effective alternative remedy as provided under the Statute, against the steps now initiated. Therefore, going by the directives contained in the decision of the Hon'ble Supreme Court in United Bank of India v. Sathyawati Tondon & others (2010(8) SCC 110), I am not inclined to entertain this writ petition. However, liberty of the petitioner is reserved either to invoke statutory remedy or to approach the bank with an offer to settle payment of amounts within a reasonable time. It is left open to the petitioner to seek WP(C).No.172 of 2011-V. 2 further remedies if there is any coercive step for sale of the property. 3. Hence the writ petition is dismissed, reserving liberty to the petitioner, as stated above. C.K.ABDUL REHIM, (Judge) Kvs/-