IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN THURSDAY, THE 13TH NOVEMBER 2008 / 22ND KARTHIKA 1930 WP(C).No. 33522 of 2008(N) -------------------------- PETITIONER(S): ---------------------- P.J.PAULOSE, PANNACKALPARAMBIL, THIRUVANCHOOR P.O., KOTTAYAM. BY ADV. SRI.V.K.SUNIL RESPONDENT(S): ------------------------- 1. THE KOTTAYAM DISTRICT CO-OPERATIVE BANK LTD., REPRESENTED BY ITS GENERAL MANAGER, KOTTAYAM. 2. THE AUTHORISED OFFICER UNDER THE SARFESI ACT, THE KOTTAYAM DISTRICT CO-OPERATIVE BANK LTD., KOTTAYAM. 3. THE JOINT REGISTRAR OF CO-OPERATIVE SOCIETIES, KOTTAYAM. R1 & R2 BY STANDING COUNSEL SRI.T.A.SHAJI. R3 BY GPSRI.K.C.SANTHOSH KUMAR. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 13/11/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: Thottathil B. Radhakrishnan, J. ================================== W.P.(C)No.33522 of 2008 ================================== Dated this the 13th day of November, 2008. JUDGMENT Petitioner's daughter availed a loan. Petitioner stood as a guarantor. The property was offered as security interest. On default, sale proceedings are being finalised under the SARFAESI Act. There is no jurisdictional error or legal infirmity to be pointed out. Giving up all other contentions, the petitioner prays for an opportunity to pay off the outstandings. In the aforesaid circumstances, this writ petition is ordered directing that if an amount of Rs.50,000/- is remitted on or before the time fixed for sale on 15-11-2008 and a further amount of Rs.50,000/- within a period of two weeks therefrom, the sale proceedings will stand adjourned for a further period of four months. The schedule fixed above for payment is as sought for by the petitioner WPC33522/08 -:2:- through counsel. Hence, the schedule shall be treated as peremptory. If the petitioner fails to pay any of the instalments as aforesaid, the benefit of this judgment will stand recalled automatically and the respondents will be at liberty to forthwith proceed with distress action. Thottathil B.Radhakrishnan, Judge. sl.