IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.K.ABDUL REHIM FRIDAY, THE 6TH NOVEMBER 2009 / 15TH KARTHIKA 1931 WP(C).No. 28752 of 2009(L) -------------------------- PETITIONER(S): --------------- T.S.SWAMINATHAN, AGED 36, S/O.LATE SUBRAMANIAN, THERAYANKODE HOUSE, EZHAKKAD P.O., MUNDUR, PALAKKAD. BY ADV. SRI.I.DINESH MENON RESPONDENT(S): --------------- THE CHIEF MANAGER, (AUTHORISED OFFICER), SYNDICATE BANK, REGIONAL OFFICE, SHANMUGHAM ROAD, ERNAKULAM-682031. BY ADV. SRI. R.S. KALKURA, STANDING COUNSEL THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 06/11/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: shg/ C.K. ABDUL REHIM, J. - - - - - - - - - - - - - - - - - - - - - - - W.P.(C)No. 28752 of 2009 - - - - - - - - - - - - - - - - - - - - - - - Dated this the 6th day of November, 2009 J U D G M E N T 1. Challenge in this writ petition is against Ext.P4 notice issued under Section 13 (2) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act). Even going by Ext.P4, the period within which the amount was demanded to be paid will expire only on 23.11.2009. Therefore the challenge in this writ petition against the said notice cannot be considered. 2. It is revealed that the arrears due from the petitioner pertaining to various loans availed is more than Rs.1.5 crores. Submission of the petitioner is that there are offers received from third parties for purchase of certain items of properties which stands mortgaged in favour of the respondent. In such case the petitioner can approach the respondent Bank with concrete offers and can negotiate for W.P.(C)No. 28752 of 2009 -2- private sale being effected with respect to such properties. It is left open to the petitioner to workout his remedies by approaching the respondent Bank either for private sale or for One Time Settlement or for waiver of interest etc. If any such approach is made it is for the Bank to consider feasibility of such proposals and take decisions thereof. 3. As stated above, since the challenge against Ext.P4 is highly premature, the writ petition is dismissed, reserving liberty of the petitioner to approach the Bank as stated above. C.K. ABDUL REHIM JUDGE shg/