IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE ANTONY DOMINIC MONDAY, THE 28TH JANUARY 2008 / 8TH MAGHA 1929 W.P(C).No. 2903 of 2008 (U) --------------------------------- PETITIONER: -------------- 1. SHAJAHAN, AGED 38 YEARS, S/O. K.L. KAMAL, SELBATH MANZIL, MUNDAKAYAM P.O., KOTTAYAM DISTRICT. 2. SELABATH BEEVI, AGED 37 YEARS, W/O. SHAJAHAN, SELBATH MANZIL, MUNDAKAYAM P.O., KOTTAYAM DISTRICT. BY ADV. SRI.T.N.SURESH RESPONDENTS: ----------------- 1. STATE OF KERALA, TO BE REPRESENTED BY THE SECRETARY (FINANCE DEPT.), THIRUVANANTHAPURAM. 2. THE MANAGER, HDFC, POST BAG NO.1662, RAVIPURAM JUNCTION, KOCHI-15. 3. THE BRANCH MANAGER, HDFC, KOTTAYAM BRANCH, LOGO CENTER, COLLECTORATE P.O., KOTTAYAM. 4. NISHAD AHAMMED O., AUTHORISED OFFICER (SALE OFFICER), POST BAS NO.1662, RAVIPURAM JUNCTION, M.G.ROAD, KOCHI-15. BY ADV. SRI. K.K. CHANDRAN PILLAI, SC FOR HDFC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 28/01/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: ANTONY DOMINIC, J. =============== W.P.(C) NO. 2903 OF 2008 U ===================== Dated this the 28th day of January, 2008 J U D G M E N T Petitioners against whom proceedings have been initiated under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 is challenging the proceedings culminating in Ext.P2 notice for the sale of the property. It is stated that as on 28/1/2008, the dues of the petitioner is almost Rs.11 lakhs. Petitioners do not dispute the liability nor the default committed, but only prays for an instalment facility. 2. I heard the counsel for the respondents, who points out the continued default that was committed by the petitioners and the compelling circumstances in which coercive action was taken. True, in view of the default committed by the petitioners, the Bank cannot be faulted for the steps it has taken. WPC 2903/08 :2 : 3. However, having regard to the fact that the only request made by the petitioners is one for an instalment facility, I dispose of this writ petition directing that within three weeks from today, the petitioners shall deposit Rs.2 lakhs out of the amount that is payable to the respondent. 4. Subject to payment as above, further proceedings against the petitioners will be deferred and thereafter the balance will be paid by the petitioners in five equal monthly instalments commencing from 1st of March, 2008 and subsequent instalments payable on the 1st of every succeeding month. It is clarified that in case the petitioners commit default in paying any one of the instalments, respondents will be free to continue the action that it has already initiated. Writ petition is disposed of as above. ANTONY DOMINIC, JUDGE. Rp