IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE K.M.JOSEPH THURSDAY, THE 11TH DECEMBER 2008 / 20TH AGRAHAYANA 1930 WP(C).No. 34878 of 2008(B) -------------------------- PETITIONER(S): --------------------- PRASANTHAN, S/O.PEETHAMBARAN 41 YEARS R/AT.MUNDUTHARAYIL HOUSE, CLAPPANA NORTH, CLAPPANA PO., KOLLAM. BY ADV. SRI.P.B.SURESH KUMAR SRI.LEO GEORGE RESPONDENT(S): ------------------------ 1. STATE BANK OF TRAVANCORE, REP. BY ITS REGIONAL MANAGER IV, ZONAL OFFICE, THIRUVANANTHAPURAM. 2. REGIONAL MANAGER, IV (ASSISTANT GENERAL MANAGER) STATE BANK OF TRAVANCORE, ZONAL OFFICE, THIRUVANANTHAPURAM. 3. BRANCH MANAGER, STATE BANK OF TRAVANCORE 4. AUTHORIZED OFFICER (CHIEF MANAGER) STATE BANK OF TRAVANCORE, REGION V ZONAL OFFICE THIRUVANANTHAPURAM. ADV. SRI.M.PATHROSE MATTHAI (SR.) FOR R1-4 SRI.SAJI VARGHESE FOR R1-4 THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 11/12/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: K.M.JOSEPH, J. - - - - - - - - - - - - - - - - - - - - - - - - - WP.(C) No.34878 of 2008 - - - - - - - - - - - - - - - - - - - - - - - - - Dated this the 11th day of December, 2008 JUDGMENT Petitioner challenges Ext.P11. Ext.P11 came to be passed pursuant to the direction issued by this court in Ext.P8 judgment. Petitioner has availed three loans from the respondent Bank. Petitioner has given four items of property as security. The prayer in the writ petition was for a direction to release one item of the property. The Bank, by the impugned order, reiterated that the request cannot be considered unless an amount of Rs.15 Lakhs is remitted as agreed in the letter dated 20.10.2008. The said letter is produced as Ext.P12. 2. I heard learned counsel for the petitioner Sri.P.B.Suresh Kumar and Sri.Saji Varghese, learned counsel appearing on behalf of the Bank. 3. Learned counsel for the petitioner submits that the petitioner shall pay Rs.12 Lakhs and he may be permitted to pay off the balance remaining in respect of all the loans in six equal monthly instalments. I feel that the said request can be accepted. In such circumstances, Ext.P11 is modified and it is ordered that if the petitioner remits Rs.12 Lakhs, the documents in question shall be WPC. 34878/2008. 2 released to the petitioner. The petitioner is permitted to pay off the balance remaining in respect of all the loans in six equal monthly instalments, the first of which shall be payable on or before 25.1.2009 and the further instalments are to be paid on or before the 25th of the succeeding months and default in paying any single instalment will enable the respondents to proceed against the petitioner in accordance with law. (K.M. JOSEPH, JUDGE) sb