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. 27971 of 2008(E) -------------------------- CMP.774/2008 of C.J.M.,TRIVANDRUM .................... PETITIONER: --------------------- ALPHONSA SHERLY, W/O.MOHAN, AGED 36 YEARS, KONNAVILAKOM HOUSE, NEAR VSSC HOUSING COLONY, PALLITHURA, TRIVANDRUM. BY ADV. SRI.M.R.SUDHEENDRAN SRI.S.MAHESH KUMAR RESPONDENTS: ----------------------- 1. STATE BANK OF TRAVANCORE, REPRESENTED BY ITS BRANCH MANAGER, PALLITHURA BRANCH, TRIVANDRUM - 695 586. 2. STATE OF KERALA, REPRESENTED BY THE PUBLIC PROSECUTOR, HIGH COURT OF KERALA, ERNAKULAM. ADV. SRI.M.PATHROSE MATTHAI (SR.) FOR R1 SRI.SAJI VARGHESE, SC, SBT FOR R1 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.27971 of 2008-E = = = = = = = = = = = = = = = = = = = = = = = = Dated this the 23rd day of September, 2008. JUDGMENT The petitioner's husband availed a loan for business purpose. That amount of Rs.80,000/- was not repaid with accruals. This resulted in proceedings against the property offered by the petitioner as collateral security. The proceedings initiated under the SERFAESI Act are well founded and there is no jurisdictional error or legal infirmity in it. Having heard learned counsel for parties, the learned counsel for the petitioner confines the submissions to a request that his client may be permitted to pay off the outstandings and avert dispossession and sale of the residential building. Under the aforesaid circumstances, repelling all other contentions and precluding the petitioner WP(C)27971/2008 -: 2 :- from taking recourse to any other statutory or other proceedings against the impugned action, this writ petition is ordered directing that if the petitioner deposits an amount of Rs.10,000/- on or before 30-9-2008 and continues to deposit at the rate of Rs.20,000/- per month on or before the last working day of every month commencing from October, 2008, the impugned distress action will stand suspended and the petitioner will be permitted to pay off the entire outstandings and settle the transaction. However, if there is any default in depositing any of the instalments as directed above, the Advocate Receiver shall forthwith enforce the process of the Chief Judicial Magistrate's Court and ensure dispossession, in accordance with law. THOTTATHIL B. RADHAKRISHNAN, JUDGE. Sha/240908