IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN THURSDAY, THE 21ST MAY 2009 / 31ST VAISAKHA 1931 WP(C).No. 7274 of 2007(N) ------------------------- PETITIONER(S): --------------- K. KUNJUMOL BABU, BINCEE COTTAGE, THEKKEKARA PUTHEN VEEDU, ANAVATTACHIRA, DALLY P.O., KULATHUPUZHA, KOLLAM-691310. BY ADV. SRI.B.KRISHNA MANI RESPONDENT(S): --------------- 1. THE AREA MANAGER, LIC HOUSING FINANCE LTD., AREA OFFICE 2ND FLOOR, LEELA TOWER, KESAVADASAPURAM, TRIVANDRUM-695 004. 2. THE AUTHORISED OFFICER, LIC HOUSING FINANCE LTD., -DO- -DO-. ADV. SRI.R.S.KALKURA FOR R1 & R2 THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 21/05/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: S. Siri Jagan, J. =-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-=-= W. P (C) No. 7274 of 2007 =-=-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-= Dated this, the 21st May, 2009. J U D G M E N T The petitioner is challenging proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 initiated by the respondents for coercive recovery of loan amounts due from the petitioner to the respondents. 2. In this writ petition, this Court passed the following interim orders: “There will be interim stay as prayed for, for a period of one month on condition that the petitioner remits an amount of Rs. 1,25,000/- (rupees one lakh twenty five thousand only) on or before 29-3-2007. 5-3-2007. xx xx xx Interim stay extended till 2-7-2007 on condition that the petitioner pays a further amount of Rs. 2,00,000/- (Rupees two lakhs only) within one month from today. 10-4-2007. xx xx xx Interim order is extended for a period of six months on condition that the petitioner deposits further amounts at the rate of Rupees One Lakh per month, payable on or before 20th of every month, commencing from September 2007. If there is default in remitting any such instalment, this order will stand vacated automatically. 14-8-2007” 3. The learned counsel for the respondents submits that the petitioner has not paid the amounts as directed in the interim orders. As such, the petitioner is not entitled to any further indulgence in the W.P.C. No. 7274/2007 -: 2 :- matter. In any event, if the petitioner is aggrieved by the proceedings under the Act, the petitioner's remedy lies in either filing objection to the Section 13(2) notice or if order has been passed under Section 13(4), by challenging the same before the Debt Recovery Tribunal in an appeal as provided under the Act. In the above circumstances, the writ petition is dismissed. Sd/- S. Siri Jagan, Judge. Tds/ [True copy] P.S to Judge.