IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN TUESDAY, THE 26TH JULY 2011 / 4TH SRAVANA 1933 WP(C).No. 19093 of 2011(J) ------------------------ PETITIONER : --------------------- P.K.KANNAN, AGED 46 YEARS, S/O.LATE PARAMESWARAN NAIR, VIJAYA BHAVAN, PONKUNNAM.P.O., THRISSUR. BY ADV. SRI.L.RAJESH NARAYAN IYER RESPONDENT(S): ------------------------- 1. STATE BANK OF INDIA, WADAKKANCHERY BRANCH, THRISSUR, REPRESENTED BY ITS BRANCH MANAGER. 680 002. 2. THE AUTHORIZED OFFICER, STATE BANK OF INDIA, SAM BRANCH, CHENNAI-601 602. 3. THE AUTHORIZED OFFICER, STATE BANK OF INDIA, R.S.BUILDING, OPP.COLLEGE GROUND, M.G.ROAD, ERNAKULAM-682 011. R1 TO R3 BY ADV. SRI.GEORGE THOMAS (MEVADA), SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 26/07/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: Mn ...2/- WP(C).No. 19093 of 2011(J) APPENDIX PETITIONER'S EXHIBITS: EXT.P1 : COPY OF THE NOTICE DATED 4.8.2010. EXT.P2 : COPY OF THE NOTICE DATED 16.2.2011. RESPONDENT'S EXHIBITS - NIL //TRUE COPY// P.A. TO JUDGE Mn S. SIRI JAGAN, J. - - - - - - - - - - - - - - - - - - - - - - - W.P.(C)No.19093 of 2011 - - - - - - - - - - - - - - - - - - - - - - - Dated this the 26th day of July, 2011 J U D G M E N T The petitioner is a defaulter in repayment of loan amounts taken from the State Bank of India - the 1st respondent herein. The respondents have initiated proceedings under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) for recovery of the amounts due. They have taken possession of the secured asset. The petitioner's grievance is that, they are not completing the proceedings by sale of the properties to adjust the amounts realisable from the sale towards the loan account. According to the petitioner, the petitioner is unable to pay the dues. But he wants the proceedings to be completed expeditiously. The learned counsel for the Bank would submit that, the Bank would require three more months' time to W.P.(C)No.19093 of 2011 -2- complete the proceedings. Accordingly this writ petition is disposed of with a direction to the respondents to complete the proceedings initiated by them under the Act and take to its logical conclusion, as expeditiously as possible, at any rate, within three months from the date of receipt of a copy of this judgment. Sd/- S. SIRI JAGAN JUDGE //True copy// P.A. TO JUDGE shg/