IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN TUESDAY, THE 5TH JULY 2011 / 14TH ASHADHA 1933 WP(C).No. 14062 of 2011(G) ---------------------------------------- PETITIONER(S): ------------------------ 1. NAZCO INDUSTRIES, REGD. OFFICE 6/48, EDAYAPURAM, ALUVA REP. BY ITS MANAGING PARTNER, ABDUL NAZAR.P.S, AGED 50, S/O.LATE P.A.SEETHI, PIN-683 101. 2. ABDUL NAZAR.P.S, S/O.P.A.SEETHI, NAZAR BUNGLAW, EDAYAPURAM, ALUVA, PIN-683 101. 3. NAJMA NAZAR, W/O.ABDUL NAZAR.P.S, EDAYAPURAM, ALUVA, PIN-683 101 BY SRI.P.JACOB VARGHESE, SENIOR ADVOCATE BY ADVS. SRI.VIVEK VARGHESE P.J. SRI.VARUGHESE M EASO SMT.MANEESHA KUMAR RESPONDENT(S): -------------------------- STATE BANK OF INDIA, REP. BY ITS AUTHORISED OFFICER THE CHIEF MANAGER, S A M BRANCH, 40/974, 2ND FLOOR, R S BUILDING, M.G.ROAD, ERNAKULAM-682 011. BY ADV. SRI.P.V.SURENDRANATH, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 05/07/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: sts WP(C)NO.14062/2011 APPENDIX PETITIONER'S EXHIBITS: P1 COPY OF THE PARTNERSHIP DEED DATED 1/1/08 OF THE PETITIONER. P2 COPY OF THE REGISTRATION CERTIFICATE DATED 14/2/08 OF THE PARTNERSHIP. P3 COPY OF THE LETTER DATED 12/5/08 ISSUED BY THE RESPONDENT. P4 COPY OF THE ACKNOWLEDGMENT DATED 20/5/09 ISSUED BY THE DEPARTMENT OF INDUSTRIES, KERALA STATE. P5 COPY OF THE REQUEST LETTER DATED 22/06/09 ISSUED BY THE PETITIONER TO THE RESPONDENT BAN P6 COPY OF THE NOTICE DATED 8/9/2010 ISSUED UNDER 13(2) OF THE SECURITISATION ACT. P7 COPY OF THE NOTICE DATED 24/3/11 UNDER SECTION 13(4) OF THE SECURITISATION ACT. P8 COPY OF THE BALANCE SHEET OF THE PETITIONER FOR THE YEAR 2008-09. P9 COPY OF THE BALANCE SHEET OF THE PETITIONER FOR THE YEAR 2009-10. P10 COPY OF THE ORIGINAL APPLICATION,OA NO.164OF 2011 OF DRT, ERNAKULAM. RESPONDENT'S EXHIBITS: NIL /TRUE COPY/ P.A.TO.JUDGE sts S. SIRI JAGAN, J. ------------------------------------------- W.P.(C) No.14062 OF 2011 ---------------------------------------------- Dated this the 5th day of July, 2011 JUDGMENT The petitioners challenge proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act initiated by the respondent bank for recovery of loan amounts due from the petitioners to the bank. It is settled law that proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act has to be challenged in an appeal before the Debt Recovery Tribunal as provided under the Act itself. In fact, the Supreme Court has repeatedly frowned upon the High Courts entertaining the writ petitions against orders passed in proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act. In the above circumstances, without prejudice to the right of the petitioners to file an appeal as provided under the Act, this writ petition is dismissed. S. SIRI JAGAN, JUDGE acd