IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN WEDNESDAY, THE 4TH JUNE 2008 / 14TH JYAISHTA 1930 WP(C).No. 16575 of 2008(W) -------------------------- PETITIONER: ------------ 1. ABDUL KARIM, AGED 50 YEARS, S/O. ABDUL KHADER, KAITHAPPILLY HOUSE SREEMOOLANAGARAM P.O., CHOWWARA, ERNAKULAM DISTRICT. 2. P.C. ABDUL SALAM,AGED 44 YEARS, S/O. BEERAVU, PERUMBALAM HOUSE, EDANADU, CHOWWARA P.O., ALUVA, ERNAKULAM. BY ADV. SRI.SHAJI P.CHALY RESPONDENTS: ------------- 1. KERALA STATE CO-OPERATIVE BANK LTD REGIONAL OFFICE, DORAISWAMY IYER ROAD COCHI-35 REPRESENTED BY ITS PRESIDENT. 2. THE AUTHORIZED OFFICER KERALA STATE CO-OPERATIVE BANK LTD REGIONAL OFFICE, DORAISWAMY IYER ROAD COCHI-35. BY ADV. SRI.NAGARAJ NARAYANAN,SC,K.S.CO-OP BANK THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 04/06/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: THOTTATHIL B.RADHAKRISHNAN, J. ------------------------------------------- W.P.(C).No.16575 OF 2008 ------------------------------------------- Dated this the 4th day of June, 2008 JUDGMENT Having heard learned counsel for the petitioners and learned counsel for the respondent Bank, it is noticed that the limited plea of the petitioners is for any benevolence that the respondent could extend, at least by way of an instalment facility in the wake of proceedings initiated under the SARFAESI Act. The loan transaction is not disputed. The total outstandings are not disputed. The procedure adopted is also not disputed. Obviously, therefore, there is no jurisdictional error or legal infirmity in the impugned proceedings. Be that as it may, having regard to the totality of the facts and circumstances, it is directed that if the petitioner deposits an amount of Rupees Two Lakhs within three weeks from now, the respondents will consider whether the petitioner is entitled to any benefit of reduction in the total outstandings and any such available benefit will be extended to him. However, the petitioner will WPC.16575/08 Page numbers continue to deposit at the rate of Rupees One Lakh per month, payable on or before the last working day of every month commencing from July, 2008, following the deposit of Rupees Two Lakhs directed above and wipe off the total outstandings, including the accruals, subject to any concessions that the respondent may extend as stated above. If there is default in remitting any of the instalments as aforesaid, the benefit of this judgment shall stand recalled automatically. The writ petition ordered accordingly. Sd/- THOTTATHIL B.RADHAKRISHNAN, Judge kkb.5/6.