The petitioner has approached this Court challenging the steps taken by the respondent Bank invoking the remedy under the SARFAESI Act for realisation of the amount due, under two loan transactions.
2. When the matter came up for consideration before this Court on 03.09.2014, the following interim order was passed:
“Admit. Smt. Latha Krishnan takes notice for respondents 1 and 2.
There shall be an interim stay of dispossession of the properties if not already taken over, on condition of the petitioner remitting an amount of Rs.2,00,000/- (Rupees two lakhs only/-) within two weeks from today. It is to be specifically recorded that the learned Counsel for the respondent Bank submits that a take over of the property has been done and he is not sure as to whether both or only one property is taken over.
Post immediately after vacation. Hand over.”
3. The learned counsel appearing for the respondent Bank submits that, the condition imposed by this Court has not been satisfied so far. It is also stated that the total liability to be WP(c). No.23646 of 2014 2 cleared by the petitioner under both the loans is to the tune of `21 lakhs.
Considering the fact that not even a portion of the liability has been cleared by the petitioner, in spite of the order passed by this Court on 03.09.2014, this Court does not find it as a fit case to grant further relief invoking the discretionary jurisdiction under Article 226 of the Constitution of India.
Accordingly, interference is declined and the writ petition is dismissed without prejudice to the rights and liberties of the petitioner to pursue other appropriate remedies in accordance with law.
Sd/-
P.R. RAMACHANDRA MENON, JUDGE.
Pn