IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN THURSDAY, THE 28TH AUGUST 2008 / 6TH BHADRA 1930 WP(C).No. 9986 of 2008(L) -------------------------------------- PETITIONER: -------------------- BEN-TEK ELECTRICAL PVT. LTD., MALAPALLIPURAM P.O., THRISSUR, REPRESENTED BY ITS MANAGING DIRECTOR. BY ADV. SRI.K.P.DANDAPANI (SR.) SRI.MILLU DANDAPANI RESPONDENTS: ------------------------- 1. THE STATE CO-OPERATIVE BANK LTD., REPRESENTED BY ITS MANAGING DIRECTOR, COBANK TOWERS, PALAYAM, THIRUVANANTHAPURAM. 2. THE REGIONAL MANAGER, STATE CO-OPERATIVE BANK LTD., REGIONAL OFFICE, DORAISWAMY IYYAR ROAD, ERNAKULAM-35. 3. THE BRANCH MANAGER, STATE CO-OPERATIVE BANK LTD., THRISSUR BRANCH, THRISSUR. 4. THE DISTRICT COLLECTOR, COLLECTORATE, THRISSUR. ADV. SRI.NAGARAJ NARAYANAN,SC,K.S.CO-OP BANK FOR R1 TO R3 BY SR. GOVERNMENT PLEADER SMT. ANU SIVARAMAN – R4 THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 28/08/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: Kss WPC.NO.9986/2008 L APPENDIX PETITIONER'S EXHIBITS: EXT.P1: COPY OF THE NOTICE DTD. 12/05/2004 UNDER SECTION 13(2) OF THE SECURITIZATION ACT. EXT.P2: COPY OF THE COMMUNICATION DTD. 12/07/2006 SENT TO THE PETITIONER BY THE FIRST RESPONDENT BANK. EXT.P3: COPY OF THE COMMUNICATION DTD. 10/08/2006 ISSUED BY THE BANK TO THE PETITIONER. EXT.P4: COPY OF THE COMMUNICATION DTD. 25/08/2006 SENT BY THE PETITIONER TO THE BANK. EXT.P5: COPY OF THE PROPOSAL/REPRESENTATION DTD. 19/03/2008 SUBMITTED BY THE PETITIONER TO THE FIRST RESPONDENT BANK. RESPONDENT'S EXHIBIT: EXT.R3(A): COPY OF THE CALCULATION STATEMENT DTD. 7/08/2008. /TRUE COPY/ P.A.TO JUDGE Kss THOTTATHIL B.RADHAKRISHNAN, J. ------------------------------------------- W.P(C).No.9986 OF 2008 ------------------------------------------- Dated this the 28th day of August, 2008 JUDGMENT This writ petition is filed for a direction to the first respondent to consider Ext.P5 representation, before invoking the provisions of the SARFAESI Act and to allow the petitioner to clear the entire liability as per Ext.P5 proposal. On 25.3.2008, the following interim order was issued: “The learned standing counsel takes notice for respondents 1 to 3. The learned senior Government Pleader takes notice for the 4th respondent. There will be an interim direction that if the petitioner appears before the third respondent on 27.3.2008, the decision of the bank on the request of the petitioner for one time settlement scheme shall be given. If such facility is not availed by the petitioner, any distress action against it will stand suspended for a period of four months on condition that the petitioner deposits at the rate of Rs.25 lakhs per month, payable on or before the last working day of every month commencing from March, 2008”. WPC.9986/08 Page numbers However, the petitioner neither appeared before the third respondent nor paid any amount in terms of the order. In the aforesaid circumstances, I do not find any ground to issue any direction in this writ petition in favour of the petitioner. The petitioner having obtained an interim order on 25.3.2008 and having enjoyed it for five months, this writ petition is dismissed with an order of costs to respondent No.1, fixed at Rs.25,000/-. It is made clear that this judgment will not stand in the way of the petitioner enjoying any benefit as stated by the respondent in the counter affidavit. Sd/- THOTTATHIL B.RADHAKRISHNAN, Judge kkb.