IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE ANTONY DOMINIC WEDNESDAY, THE 30TH JANUARY 2008 / 10TH MAGHA 1929 WP(C).No. 2575 of 2008(F) ------------------------- PETITIONER: ------------ 1. VALSALA, W/O. LATE KARUNAN, AGED 44 YRS, RESIDING AT KUNIYIL HOUSE, KAPPAD P.O., KOZHIKODE DISTRICT, ON HER OWN AND REPRESENTING MINOR DAUGHTER PRIYA, AGED 9 YEARS. 2. ROHIT, S/O. LATE KARUNAN, AGED 19 YEARS, KUNIYIL, KAPPAD P.O., KOZHIKODE. 3. PRIYA, D/O. VALSALA REPRESENTED BY HER MOTHER. BY ADV. SRI.P.K.RAMKUMAR RESPONDENTS: ------------- 1. THE RECOVERY OFFICER, DEBTS RECOVERY TRIBUNAL, (KERALA & LAKSHADWEEP), 8TH FLOOR, K.S.H.B. BUILDING, PANAMPILLY NAGAR, COCHIN-682 036. 2. Y.M.SURENDRAN, S/O. KELAPPAN, YOGIMADATHIL, THIRUVANGOOR P.O., KOYILANDY, KOZHIKODE DISTRICT. 3. THE FEDERAL BANK LTD., NADAKKAV WEST BRANCH, CALICUT, REPRESENTED BY ITS MANAGER. R3 BY ADV. SRI.MOHAN JACOB GEORGE THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 30/01/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: ANTONY DOMINIC, J. ------------------------------------ W.P.(C) 2575 of 2008 ------------------------------------- Dated: January 30, 2008 JUDGMENT Ext.P2, a sale proclamation published by the respondent bank, is under challenge. It is seen that proceedings were initiated against the petitioners under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 and the matter has reached the stage of sale proclamation. At this stage though in this writ petition, the petitioner has raised several contentions on the merits of the steps that are taken by the bank, learned counsel for the petitioner, realising the limitations, has rightly confined his prayer to one for an installment facility. 2. I heard the standing counsel for the bank also in this matter. 3. Having regard to the submissions that are raised by both sides, I dispose of this writ petition directing that the amount of Rs.12,81,870/- due as of now shall be paid by the petitioner in six equal monthly instalments. The first installment will be payable in WP(C) 2575/08 Page numbers the 1st of week of March, 2008 and the subsequent instalments will be payable in the first week of every succeeding month. Subject to payment as aforesaid, further proceedings pursuant to Ext.P2 shall be deferred and, in case any default is committed by the petitioner in paying any one of the instalments, the bank will be free to continue the action already taken without further notice to the petitioners. Writ petition is disposed of as above. ANTONY DOMINIC, JUDGE mt/-