A.M.BADAR
Sundaran P. S. S/o Sankaran – Appellant
Versus
Authorised Officer M/s. UCO Bank, Willington Island Branch, Kochi – Respondent
JUDGMENT :
A.M. BADAR, J.
1. By this petition, the petitioner is praying for the following reliefs:
(ii) Issue a writ of mandamus or any other appropriate writ, order or direction directing the 1st respondent not to initiate further SARFAESI proceedings against the immovable property of the petitioner comprising of 35 cents of land lying in Sy. No. 660/1 of Kunnukara Village until the final report is submitted by the CBCID in Crime No. 481/2009.
(iii) To pass such other writ order or direction as this Hon'ble Court may deem fit and proper.
(iv) Award the costs of the writ petition.
2. The document at Ext.P5 is the notice given by the Advocate Commissioner for taking possession of the secured asset under the SARFAESI Act.
3. The learned counsel for the petitioner argued that the petitioner intended to offer his property as a security for a loan of Rs. 18 lakhs which was to be taken by the 3rd respondent namely Shibu. S. However, respondent No. 3, Shibu, instead of availing loan of Rs. 18 lakhs, had availed loan of Rs. 24 lakhs for which the property of
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