IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.R.RAMACHANDRA MENON MONDAY, THE 18TH JANUARY 2010 / 28TH POUSHA 1931 WP(C).No. 1020 of 2010(B) ------------------------- PETITIONER(S): --------------- VAMADEVAN PILLAI, S/O.NARAYANA PILLAI, VAZHAYIL PADINJATTATHIL VEEDU, (LIJU BHAVAN), AYIKUNNAM, SASTHAMCOTTA.P.O. BY ADV. SRI. K.SIJU SRI.S.SUDHEESHKAR SRI.PRATHEESH.P RESPONDENT(S): --------------- 1. THE AUTHORISED OFFICER, STATE BANK OF TRAVANCORE, REGION-V, ZONAL OFFICE, THIRUVANANTHAPURAM-1. 2. MANAGER, STATE BANK OF TRAVANCORE, SASTHAMCOTTA BRANCH, KOLLAM. STANDING COUNSEL SRI.R.S.KALKURA THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 18/01/2010, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: P.R. RAMACHANDRA MENON, J. ----------------------------------------------- WP(C) No. 1020 of 2010 -------------------------------------- Dated, this the 18th day of January, 2010 J U D G M E N T Challenging the coercive steps taken by the respondent Bank invoking the provisions under the SARFAESI Act, the petitioner had approached this Court earlier in WP(C) 30406/2009, which led to Ext.P4 judgment, whereby such steps were intercepted on condition that, the petitioner remitted a sum of Rs.2,00,000/- so as to enable the Bank to facilitate consideration of the petitioner's request for revival. The case of the petitioner is that, even though the condition imposed by this Court in Ext.P4 has been satisfied as borne by Ext.P5 receipt, the issue is still to be considered by the Bank and that the petitioner is made to run from pillar to post, because of the coercive steps still being pursued by the Bank. 2. The learned counsel for the petitioner submits that, the petitioner is ready and willing to clear the entire outstanding liability, provided some breathing time is given in this regard. Learned counsel for the Bank submits that, about 8.35 lakhs, as in August, 2009 with further interest and cost, is still due from the petitioner. 3. Considering the facts and circumstances, the petitioner is WP(C) No.1020/2010 2 directed to pay a sum of Rs.2,50,000/- on or before the 25th of February, 2010 and the balance amount shall be cleared by way of ‘five’ equal monthly instalments to be commenced from the 25th of the succeeding months. It is also made clear that, if any default is committed by the petitioner in clearing the liability as above, the respondent Bank will be at liberty to proceed with further steps for realisation of the entire amount in a lump sum. Subject to the above, all the coercive proceedings stated as being pursued against the petitioner shall be kept in abeyance, for the time being. The Writ Petition is disposed of accordingly. P. R. RAMACHANDRA MENON JUDGE dnc