IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN FRIDAY, THE 31ST OCTOBER 2008 / 9TH KARTHIKA 1930 WP(C).No. 31729 of 2008(B) -------------------------- PETITIONER(S): --------------- SRI.P.K.KANNAN, AGED 46 YEARS S/O. LATE PARAMESWARAN NAIR, M/S.VIJAYA BHAVAN, PONKUNNAM P.O., THRISSUR. BY ADV. SRI.MATHEW ABRAHAM RESPONDENT(S): --------------- 1. THE STATE BANK OF TRAVANCORE REPRESENTED BY BRANCH MANAGER, S.B.T. WADAKANCHERRY BRANCH THRISSUR. 2. THE AUTHORISED OFFICER STATE BANK OF TRAVANCORE,VADAKKANCHERRY. ADV. SRI.SATHISH NINAN FOR R1 & 2 THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 31/10/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: THOTTATHIL B.RADHAKRISHNAN, J. ------------------------------------------- W.P(C).No.31729 OF 2008 ------------------------------------------- Dated this the 31st day of October, 2008 JUDGMENT Petitioner challenges the action taken by the respondents under the provisions of the SARFAESI Act. Going by the statement filed on behalf of the respondents, as of now, three items of properties are covered by the impugned direction by the Chief Judicial Magistrate under Section 14 of the Act. The stand taken by the petitioner is that following default by him and earlier directions issued by this Court in W.P(C). 1606/08, an NRI has come forward, however, that the cheques issued by him had bounced in view of lack of funds in the bank from which he had issued the cheque. It also appears that in the mean while, Ext.P4 bank guarantee was issued by the respondent bank to the petitioner. This, going by the statement of the respondents, was to enable the petitioner to get amounts due to him from the Power Grid Corporation of India. Though the bank bonafide issued that bank guarantee, the Power Grid WPC.31729/08 Page numbers Corporation did not release any amount to the petitioner. It is also a fact stated by the respondents that the petitioner executed a power of attorney in favour of the respondent bank to receive amounts payable to him from the Kerala State Rural Roads Development Agency, however, that when the bank forwarded the power of attorney to the concerned department, they were informed that the petitioner had earlier issued another power of attorney in favour of the State bank of India to collect the same funds. With this scenario coupled with the bounced cheques and non-payment, I find no ground to issue any further order in favour of the petitioner. The writ petition fails. The same is accordingly dismissed without prejudice to the right of the petitioner to move the bank for any further relief, including any short adjournment of further proceedings. Sd/- THOTTATHIL B.RADHAKRISHNAN, Judge. kkb.