JUDGMENT

Dated this the 27th day of May, 2024 ₹

The petitioner, who has availed 15 lakhs loan from the Thiruvalla East Co-operative Bank Limited, approached this Court seeking to direct the respondent to grant 25 equal monthly installments for repayment of the entire outstanding loan amount.

2. It is evident from the pleadings that the petitioner has approached this Court when Ext.P1 notice was issued by the petitioner invoking the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. If the petitioner is aggrieved by the proceedings of the Bank taken under Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, the petitioner has to approach the competent Tribunal.

3. It is settled law that no writ would lie against the proceedings initiated by a financial institution under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. In United Bank of India v. Satyawati Tondon and others [(2010) 8 SCC 110], the Hon’ble Apex Court declared that no writ petition shall be entertained against the proceedings initiate