IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE ANTONY DOMINIC MONDAY, THE 25TH AUGUST 2008 / 3RD BHADRA 1930 WP(C).No. 25376 of 2008(U) -------------------------- PETITIONER: ------------ NISTHAR.M., NALUTHUNDIL, THONNALLOOR, PANDALAM, PATHANAMTHITTA DISTRICT. BY ADV. SRI.C.B.SREEKUMAR RESPONDENTS: ------------- 1. THE MANAGER, STATE BANK OF TRAVANCORE, THUMPAMON BRANCH. 2. AUTHORISED OFFICER, STATE BANK OF TRAVANCORE, REGION-IV, ZONAL OFFICE, KOTTAYAM. 3. THE GENERAL MANAGER, STATE BANK OF TRAVANCORE, REGIONAL OFFICE, THIRUVANANTHAPURAM. BY S.C. MR. SAJI VARGHESE. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 25/08/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: ANTONY DOMINIC, J. = = = = = = = = = = = = = = = = = W.P.(C) No. 25376 OF 2008 U = = = = = = = = = = = = = = = = = Dated this the 25th day of August 2008 J U D G M E N T Petitioner is aggrieved by the securitisation proceedings initiated by the Bank against him. According to the Standing Counsel who entered appearance on behalf of the 1st respondent, they have already obtained an order under Section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 and a Commissioner has also been appointed. 2. At this stage what is sought for by the petitioner is that he may be given a chance to approach the respondent Bank seeking waiver/reduction in the liability that is now sought to be enforced against him. 3. Since the liability to the bank is about Rs.5 lakhs as at present, the request of the counsel for the petitioner to defer further proceedings unconditionally cannot be granted. Therefore, I direct that the petitioner shall, within 10 days from today, remit W.P.(C) No. 25376 OF 2008 -2- Rs.1 lakh and subject to such remittance, further proceedings pursuant to Ext. P1 shall be kept in abeyance. It is also directed that once remittance is made as above, it will be open to the petitioner to approach the Asst. General Manager, Zonal Office, Kottayam of the 1st respondent bank seeking waiver/reduction of his liability in which case the same shall be considered and orders shall be passed. 4. It is directed that if the petitioner makes remittance as ordered above, until orders are passed on the representation to be filed by him, further action shall be kept in abeyance and it will be open to the above authority to specify the manner in which the liability is to be discharged by the petitioner. Writ petition is disposed of as above. ANTONY DOMINIC JUDGE jan/-