Balakrishnan Nair, J.

The point that arises for decision in these Writ Appeals is whether the provisions of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as the Securitization Act) are applicable to District Co-operative Banks and Urban Banks and whether those Banks can invoke those provisions to take over and sell the assets of the loanees, given by way of security. Writ Appeal No.2070/07 is treated as the main case. WA No.2070 of 2007

2. The appellants 1 and 2, who are husband and wife, availed a loan of Rs.5 lakhs from the Kottayam District Co-operative Bank. The third appellant, who is the mother of the first appellant, availed another loan of Rs.5 lakhs from the said Bank. Landed Property, having an extent of 1.052 hectares, belonging to the first appellant was given as security for the said loans. The loans were availed in October 2004 and as per the loan agreement, the repayment was to be completed by the end of 2009. Since the appellants defaulted, the Bank issued Ext.P2 notice dated 25.06.2006 under the Securitization Act. Simultaneously, the Bank moved the Arbitrator under Secti