IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN TUESDAY, THE 23RD SEPTEMBER 2008 / 1ST ASWINA 1930 WP(C).No. 28194 of 2008(F) ---------------------------------------- PETITIONER: -------------------- P.SHAMSUDHEEN, S/O.ABDUL RAHIMAN, PUTHEN PEEDIEKKAL HOUSE, POST CHENNARA, VIA.MANGALAM, TIRUR TALUK, MALAPPURAM DISTRICT. BY ADV. SRIC.M.MOHAMMED IQUABAL RESPONDENTS: ------------------------- 1. THE TIRUR URBAN CO-OPERATIVE BANK LTD., HEAD OFFICE, TIRUR, MALAPPURAM DISTRICT, REPRESENTED BY ITS GENERAL MANAGER. 2. THE TIRUR URBAN CO-OPERATIVE BANK LTD., BRANCH OFFICE, ALATHIYUR, POST ALATHIYUR TIRUR, MALAPPURAM DISTRICT, REPRESENTED BY ITS MANAGER. BY ADV. SRI. DEVAPRASANTH.P.J., SC – R1 & R2 THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 23/09/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: Kss Thottathil B. Radhakrishnan, J. ================================== W.P.(C)No.28194 of 2008 ================================== Dated this the 23rd day of September, 2008. JUDGMENT Petitioner availed a loan, but failed to repay it. Respondents, therefore, initiated action under the SARFAESI Act. The loan is defaulted. The outstandings have accrued. No sustainable issue is pointed out in challenge of the proceedings. Even in Ground-B, it is stated that the petitioner is not disputing the liability. Petitioner has remitted an amount of Rs.1,00,000/- after the issuance of Section 13(2) notice. Under such circumstances, giving up all other contentions and the right of the petitioner to move other statutory bodies or courts challenging the impugned proceedings, learned counsel for the petitioner confines his submission to a request that the petitioner may be given an opportunity to wipe off the outstandings. WPC28194/08 -:2:- Having heard the learned counsel for the parties, repelling all other contentions, this writ petition is ordered directing that if the petitioner pays off the entire remaining outstandings in five equal monthly instalments, payable on the 15th of every month, commencing from October, 2008, the impugned sale shall stand deferred. If the petitioner fails to pay 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.