JUDGMENT

Dated this the 8th day of January, 2024 The petitioner, who has availed a loan of ₹30 lakhs from the Town Branch of the 1st respondent-Cherpalcheri Co-operative Urban Bank, has approached this Court filing this writ petition seeking to declare that the proceedings initiated by the respondent- Bank under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 are null and void and to quash Ext.P1 notice.

2. The pleading in the writ petition shows that when the petitioner failed to maintain the loan account properly, the respondents have initiated proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 and invoked Section 14 thereon. The Advocate Commissioner appointed by the Chief Judicial Magistrate, Palakkad issued Ext.P1 notice dated 08.03.2023. In the said circumstances, the petitioner had filed this writ petition.

3. When this writ petition came up for admission on

20.03.2023, this Court passed an interim stay order on condition that the petitioner remits a sum of ₹50,000/- within three weeks. The petitioner paid the said amount. On 18.10.2023, this Court fu