IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN TUESDAY, THE 17TH FEBRUARY 2009 / 28TH MAGHA 1930 WP(C).No. 3010 of 2009(G) ------------------------- PETITIONER(S): --------------- M.MUHAMMED SUBAIRE,S/O.MUHAMMED KUNJU, AGED 58 YRS, KAITHAKUZHI PUTHEN VEEDU, MANJAPARA, THALIKUZHI.P.O,KILIMANOOR, THIRUVANANTHAPURAM DISTRICT. BY ADV. SRI.SIJU KAMALASANAN SRI.S.SUDHEESHKAR SRI.PRATHEESH.P SRI.A.MUHAMMED RAFFI RESPONDENT(S): --------------- 1. THE AUTHORISED OFFICER, KERALA STATE CO-OPERATIVE BANK LTD, REGIONAL OFFICE, OVER BRIDGE JUNCTION, THIRUVANANTHAPURAM. 2. THE SENIOR MANAGER, KERALA STATE CO-OPERATIVE BANK LTD, STATUE BRANCH, THIRUVANANTHAPURAM. ADV. SRI.NAGARAJ NARAYANAN THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 17/02/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: THOTTATHIL B RADHAKRISHNAN, J ........................................... WP(C).NO. 3010 OF 2009 ............................................ DATED THIS THE 17TH DAY OF FEBRUARY, 2009 JUDGMENT At the outset, it is submitted on behalf of the petitioner that the SARFAESI Act proceedings is not challenged and that an opportunity to go to Debt Recovery Tribunal under Section 17 of SARFAESI Act is given up. Based on this, the only submission made is that after Ext.P2 notice dated 23.10.2008, an amount of Rs.4,00,000/- has been paid as evidenced by Ext.P4 and petitioner may be given an opportunity to wipe off the further outstandings including by availing any reduction in the entire outstandings by virtue of any scheme for settlement or otherwise. 2. Taking into consideration the fact that by now, an amount of Rs.10,00,000/- would have accrued as payable outstanding and deducting the aforesaid amount of 4,00,000/- therefrom, it is ordered that if the petitioner remits an amount of Rs.2,00,000/- on or before 28.2.2009, and a further amount of Rs.2,00,000/- on or before 25.3.2009, bank would consider any request of the petitioner for slashing the entire outstandings and even giving him the benefit of any scheme that may be available. The impugned SARFAESI Act proceedings will stand deferred in terms of what is aforesaid. However, if there is default in remitting any of the instalments as WP(C) 3010/2009 2 aforesaid, or abiding by the benefits that may be extended by the bank, the impugned proceedings would be carried on from its present status. No other points raised. Writ petition ordered accordingly. THOTTATHIL B RADHAKRISHNAN, JUDGE lgk/19/2