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P.H. MOHAMED YOUSEF v. THE AUTHORISED OFFICER - WP(C) No. 20505 of 2007(N)  RD-KL 15027 (6 August 2007)
IN THE HIGH COURT OF KERALA AT ERNAKULAMWP(C) No. 20505 of 2007(N)
1. P.H. MOHAMED YOUSEF,
1. THE AUTHORISED OFFICER,
2. THE LEAD BANK MANAGER,
3. THE BRANCH MANAGER,
For Petitioner :SRI.JAGADEESH LAKSHMAN
For Respondent :SRI.SATHISH NINAN
The Hon'ble MR. Justice ANTONY DOMINIC
O R D E R
ANTONY DOMINIC, J.
W.P.(C) NO.20505 OF 2007
Dated this the 6th day of August, 2007
J U D G M E N T
The prayer in this writ petition is to quash Exhibit P3 proceedings initiated under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 and Ext.P4. Petitioner admittedly is a defaultor to the Bank and in terms of provisions of the aforesaid act, Bank is entitled to take recourse to the proceedings under that Act as well.
2. The Bank has filed a statement, where it has been pointed out that in an Adalath that was conducted by the Bank, dispute between the petitioner and the Bank was settled, but however, the petitioner did not honour the terms of the settlement. In these circumstances, there is nothing invalidating Ext. P3. It is also seen that petitioner sought extension of time to make payment as per the settlement and that period also has expired. That apart, it is also pointed out that the conditions imposed by this Court in the order dated 5/7/07 requiring the WPC 20505/07 petitioner to deposit Rs.50,000/- also has not been complied with. In these circumstances, I do not find any illegality in the action of the Bank and this writ petition is devoid of any merit and it is only to be dismissed and I do so.
ANTONY DOMINIC, JUDGE.Rp
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