IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN MONDAY, THE 1ST AUGUST 2011 / 10TH SRAVANA 1933 OP (DRT).No. 1549 of 2011(O) ------------------------------------ OS.929/2008 of 1ST ADDL. SUB COURT, ERNAKULAM .................... PETITIONER --------------- C.B.SAIFUDHEEN,AGED 66 YEARS, S/O.LATE C.K.BAVA,PLOT NO.16,EASTERN VILLAS, POYYACHIRA,CSEZ.P.O,ERNAKULAM. BY ADV. SRI.BIJU ABRAHAM RESPONDENT(S): --------------------- 1. THE FEDERAL BANK LTD,REGIONAL OFFICE, ASSETS RECOVERY CELL,FEDERAL TOWERS,IST FLOOR, MARINE DRIVE,ERNAKULAM-682031. 2. P.B.KABEER,S/O.PARAKKAT BAVA, PARAKKAT HOUSE,NEAR PADMA THEATRE,M.G.ROAD, ERNAKULAM-31. 3. SULEKHA.P.S,W/O.P.B.KABEER,PARAKKAT HOUSE,NEAR PADMA THEATRE,M.G.ROAD,ERNAKULAM-31. 4. ZIA M.KABEER,S/O.P.B.KABEER,PARAKKAT HOUSE,NEAR PADMA THEATRE,M.G.ROAD,ERNAKULAM-31. 5. P.B.A.SALAM,S/O.LATE C.K.BAVA,AGED 70 YEARS,PRAKKAT HOUSE,BEHIND PADMA THEATRE, ERNAKULAM-682035. 6. ARIFA.M.FAROOK,W/O.M.FAROOK USMAN, AGED 63 YEARS,41/103,AMMANKOVIL ROAD, ERNAKULAM-682035. svs ..........2/-... ...2... OPDRT. NO.1549/2011 7. ABIDA KAREEM,W/O.ABDUL KAREEM,AGED 60 YEARS,KAKKAT HOUSE,ELAMAKKARA.P.O,ERNAKULAM, PIN-682026. 8. HAMEEDA SHAHUL HAMEED,W/O.SHAHUL HAMEED, KATTAPPILLY PARAMBU,THAMMANAM.P.O,ERNAKULAM, PIN-682632. 9. C.P.SOUDHA ASHARAF,W/O.ASHRAF KUTTIKKAR, AGED 55 YEARS,KUTTUKKATT HOUSE,ELAVUNKAL PARAMBU, AKG ROAD,EDAPALLY.P.O,ERNAKULAM-682024. 10. ABDUL RAHIM,S/O.PAREKUTTY,AGED 54 YEARS, 12/18F,"CHERIYIL",MOOLEPADAM ROAD,VAZHAKKALA, KAKKANADU WEST.P.O,ERNAKULAM-682030. 11. C.P.NOORJAHAN RASHEED,AGED 50 YEARS, W/O.V.K.ABDUL RASHEED,"VELIKKAKATHU",B-319, THRIKKAKARA.P.O,ERNAKULAM-682021. 12. C.P.MOHAMMED SHAKEER,AGED 56 YEARS, S/O.C.A.PAREKUTTY,"CHERIYIL",2/211 C,P.B.K.MAINA ROAD,VAZHAKKALA,THRIKKAKARA.P.O,ERNAKULAM, PIN-682021. 13. C.P.MAJMU NAZAR,AGED 40 YEARS, W/O.N.A.ABDUL NAZAR,NEDUMTHAZHATHU HOUSE, ILLATHU PADY,EDAVANAKKADU.P.O,ERNAKULAM-682502. 14. THE DEBT RECOVERY TRIBUNAL,ERNAKULAM, (KERALA AND LAKSHADWEEP),5TH FLOOR,K.S.H.S.B., BUILDING,PANAMPILLY NAGAR,KOCHI-36,REPRESENTED BY ITS REGISTRAR. R1 BY ADVS. SRI.A.ANTONY SMT.LEELAMMA ANTONY THIS OP (DEBT RECOVERY TRIBUNAL) HAVING BEEN FINALLY HEARD ON 01/08/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: svs O.P.(DRT). NO. 1549/2011 APPENDIX PETITIONER'S EXHIBITS: P1: COPY OF THE JUDGMENT IN O.S. NO.929/08 ON THE FILES OF SUB COURT, ERNAKULAM DATED 18/01/2010. P2: COPY OF THE MEMORANDUM OF WRIT PETITION IN WPC.NO.7292/2011. P3: COPY OF THE SALE NOTICE DATED 02/02/2011 ISSUED BY THE 1ST RESPONDENT IN RESPECT OF THE SCHEDULE PROPERTY. P4: COPY OF THE MEMORANDUM OF SECURITIZATION APPLICATION AS I.D. NO.4496/2011 BEFORE THE DEBT RECOVERY TRIBUNAL, ERNAKULAM. P5: COPY OF THE ORDER DATED 08/04/2011 OF THE DEBT RECOVERY TRIBUNAL, ERNAKULAM IS I.D. NO. 4496/2011. RESPONDENT'S EXHIBITS: NIL /TRUE COPY/ P.A. TO JUDGE. svs S. SIRI JAGAN, J. - - - - - - - - - - - - - - - - - - - - - - - O.P. (DRT) No. 1549 of 2011 - - - - - - - - - - - - - - - - - - - - - - - Dated this the 1st day of August, 2011 J U D G M E N T The petitioner challenges Ext.P5 order of the Debts Recovery Tribunal, Ernakulam, dismissing an application filed by the petitioner under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) on the ground of limitation as well as on the ground that it is premature. The petitioner has an effective alternate remedy by way of appeal as provided under the Act itself. Therefore without prejudice to that right, this writ petition is dismissed. Sd/- S. SIRI JAGAN JUDGE //True copy// P.A. TO JUDGE shg/