IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN MONDAY, THE 29TH SEPTEMBER 2008 / 7TH ASWINA 1930 WP(C).No. 28827 of 2008(F) -------------------------- PETITIONER: --------------- MURALEEDHARAN, PRASANNA SADANAM, KALAVOOR P.O., ALLEPPEY. BY ADV. SRI.JOMY GEORGE RESPONDENTS: --------------- 1. U.C.O.BANK, ALLEPPEY BRANCH (0996), P.B.NO.4002, CULLEN ROAD, ALLEPPEY. 2. CHIEF MANAGER (AUTHORIZED OFFICER) U.C.O. BANK. /- THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 29/09/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: THOTTATHIL B.RADHAKRISHNAN, J. ================================ W.P.(C). No.28827 of 2008-F =========================== Dated this the 29th day of September, 2008. J U D G M E N T Having regard to the nature of the directions being issued hereunder, notice to the respondents are dispensed with, preserving their right to move for review of this judgment, if aggrieved. 2. Having heard the learned counsel for the petitioner, I do not find any legal infirmity or jurisdictional error in the impugned action taken by the respondents under the provisions of the SARFAESI Act on account of default in repaying the loan. The learned counsel for the petitioner confines the submission to a request that the petitioner may be given some time to pay off the entire outstandings. 3. Under such circumstances, foreclosing the right of the petitioner to move any other statutory tribunals, authorities and courts against the impugned action and taking into consideration the petitioner's request in Ext.P3 for three months' time to settle the dues, this writ petition is ordered directing that the impugned W.P.(C). No.28827 of 2008-F 2 distress action will stand deferred for a period of three months from now, as a last opportunity. Remedy by way of proceedings before the Debt Recovery Tribunal is also foreclosed by the force of this judgment. THOTTATHIL B.RADHAKRISHNAN, JUDGE. bkn/-