IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HON'BLE THE ACTING CHIEF JUSTICE MR.J.B.KOSHY & THE HONOURABLE MR. JUSTICE V.GIRI TUESDAY, THE 17TH FEBRUARY 2009 / 28TH MAGHA 1930 WA.No. 354 of 2009() -------------------- AGAINST THE JUDGEMENT/ORDER IN WPC.32427/2008 Dated 07/11/2008 .................... APPELLANT/PETITIONER: ------------------------ M/S.NEELIMA TOURS AND TRAVELS, REP. BY ITS PARTNER PREETHI MATHEW, D/O.GRACY MATHEW, AGED 33 YEARS, CHEMBIL COMPLEX, MUPPALAM, ALAPPUZHA. BY MR.BIJU ABRAHAM, ADVOCATE RESPONDENT/RESPONDENT: ------------------------- UNION BANK OF INDIA, ALAPPUZHA BRANCH, REP. BY THE AUTHORIZED OFFICER, ALAPPUZHA. BY MR.ASP.KURUP, SC THIS WRIT APPEAL HAVING COME UP FOR ADMISSION ON 17/02/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: J.B.KOSHY, Ag.C.J & V.GIRI, J. ------------------------------- W.A.NO.354 OF 2009 () ----------------------------------- Dated this the 17th day of February, 2009 J U D G M E N T KOSHY,Ag.CJ. When disciplinary proceedings were taken against the appellant/petitioner by the bank under Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, appellant/petitioner approached this Court. The learned Single Judge directed the petitioner that if he deposits 1/3 rd of the entire outstandings on or before 29.11.2008 and balance amount on or before 31.12.2008, recovery action shall be stopped. It is also stated that appellant/petitioner is precluded from challenging the impugned proceedings before any authorities including the Debt Recovery Tribunal. When action is taken under the Securitization Act, appellant/petitioner has got a right to file application under the Secuiritization Act and that statutory WA.354/09 2 right cannot be taken away. Therefore, we make it clear that it is for the appellant/petitioner to approach the Debt Recovery Tribunal and pray for an appropriate relief. With the above direction, this appeal is disposed of. J.B.KOSHY ACTING CHIEF JUSTICE V.GIRI JUDGE prp J.B.KOSHY & THOMAS P. JOSEPH, JJ. -------------------------------------------------------- M.F.A.NO. OF 2006 () --------------------------------------------------------- J U D G M E N T --------------------------------------------------------- 6th November, 2008