IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.R.RAMACHANDRA MENON TUESDAY, THE 9TH MARCH 2010 / 18TH PHALGUNA 1931 WP(C).No. 4115 of 2009(M) ---------------------------------------- PETITIONER(S): ------------------------- P.H.ABDULLA, S/O.HASSAN KUTTY,BADRIYA MANZIL, P.O.MOGRAL PUTHUR, KASARAGODE DISTRICT. BY ADVS. MR.P.SANJAY, MR.M.MUHAMMED SHAFI. RESPONDENT(S): ---------------------------- 1. THE AUTHORISED OFFICER,VIJAYA BANK, REGIONAL OFFICE, MANGALORE, KARANATAKA. 2. MANAGER, VIJAYA BANK,KUMBALA BRANCH, KASARAGODE DISTRICT. *ADDL.R3 IMPLEADED: R3. P.A. ABBAS, S/O.P.A. MUHAMMED, PALLATH HOUSE, POST MOGRAL, KASARAGODE DISTRICT. (*ADDL.R3 IS IMPLEADED AS PER ORDER DTD. 17/02/2009 IN I.A.NO.2132/09 IN WPC.NO.4115/2009) R1 & R2 BY ADVS. MR.K.ANAND, SC, VIJAYA BANK SMT.LATHA KRISHNAN. ADDL.R3 BY ADV.MR.P.K.NIJOY THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 09/03/2010, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: Kss WPC.NO.4115/2009 M APPENDIX PETITIONER'S EXHIBITS: P1: COPY OF THE CONCESSION CERTIFICATE ISSUED TO PETITIONER DTD. 24/07/01. P2: COPY OF THE POSSESSION NOTICE PUBLISHED IN “THE HINDU” DTD. 22/11/08. P3: COPY OF THE MEDICAL CERTIFICATE DTD. 20/03/2009. P4: COPY OF THE RECEIPT DTD. 31/03/09. RESPONDENT'S EXHIBITS: N I L /TRUE COPY/ P.A.TO JUDGE Kss P.R.RAMACHANDRA MENON, J --------------------------- W.P(C) No. 4115 of 2009-M ---------------------------- Dated this the 9th day of March, 2010. J U D G M E N T The petitioner has approached this Court challenging the steps taken by the respondent Bank invoking the provisions under the SARFAESI Act. Many a ground has been raised, both legal as well as factual. 2. The learned counsel appearing for the petitioner submits that the petitioner does not intend to press any of the contentions and that he might be permitted to clear the entire liability by way of reasonable instalments. 3. The learned counsel for the Bank submits on instructions, that in November 2009, a sum of about Rs.5.21 lakhs was liable to be discharged by the petitioner for clearing the liability under the loan transaction, which is the figure after giving credit to the amount already deposited by the petitioner, pursuant to the interim order passed by this Court. 4. In the above facts and circumstances, the petitioner is permitted to clear the entire outstanding liability by way of ‘six’ W.P(C) No. 4115 of 2009-M 2 equal monthly instalments; the first of which shall be effected on or before the 30th of this month; to be followed by similar instalments to be effected on or before the 30th of the succeeding months. Subject to the above, all further coercive steps shall be kept in abeyance. It is made clear that, if any default is committed by the petitioner in satisfying the due amount as above, it will open to the Bank to proceed with appropriate steps for realisation of the entire amount in a lump sum, from the stage where it stands now. The Writ Petition is disposed of accordingly. Sd/- P.R.RAMACHANDRA MENON JUDGE //True Copy// P.A to Judge ab