IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.R.RAMACHANDRA MENON WEDNESDAY, THE 19TH AUGUST 2009 / 28TH SRAVANA 1931 WP(C).No. 20004 of 2009(U) -------------------------------------- PETITIONER(S): --------------------- KASIMAYAN P., S/O.PERIYA KARUPPA THEVAR, KALYAN NIVAS, AZHIKODAN STREET, KURIACHIRA, TRISSUR. BY ADV. SRI.K.JAGADEESCHANDRAN NAIR SRI.JAISHANKAR V.NAIR RESPONDENT(S): ------------------------- 1. ANDHRA BANK, BRANCH NO.1175, 1ST FLOOR, NATIONAL TOURIST BUILDING, M.G.ROAD, THRISSUR REPRESENTED BY CHIEF MANAGER, ANDHRA BANK, M.G.ROAD, THRISSUR. 2. UNION OF INDIA REPRESENTED BY SECRETARY TO GOVERNMENT OF INDIA, DEPARTMENT OF LAW JUSTICE AND COMPANY AFFAIRS, SECRETARIAT, NEW DELHI. ADV. SRI.ABRAHAM MATHEW (VETTOOR) FOR R1 SENIOR GOVERNMENT PLEADER SRI.P.K.BABU THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 19/08/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: P.R.RAMACHANDRA MENON.J --------------------------------------------- W.P(C) NO.20004 OF 2009 ----------------------------------- Dated this the 19th day of August, 2009. J U D G M E N T The petitioner is challenging the coercive steps taken by the respondent Bank, invoking the provisions under the SARFAESI Act, on many a ground. 2. When the matter had come up before this Court on 16.7.2007, the proceedings were intercepted on condition that the petitioner remitted a sum of Rs.3,00,000/- within one month. The learned counsel for the petitioner submits that the condition imposed by this Court while granting the interim order has been complied with and that the petitioner is ready and willing to clear the balance amount, provided some breathing time is given in this regard. 3. Heard the learned Counsel for the respondent Bank as well. 4. Considering the facts and circumstances, the petitioner is permitted to clear the outstanding liability to the Bank, by way of 4 equal installments; the first of which shall be effected on or before the 10th September 2009, to be followed the remaining installments to be satisfied on or before the 10th of the succeeding months. Subject to the above, the coercive steps stated as being pursued against the petitioner shall be wpc 20004/2009 2 kept in abeyance, for the time being. It is made clear that, if any default is committed by the petitioner in satisfying the liability as above, the respondent Bank will be free to proceed with further steps to realise the entire amount in lump sum, pursuing such steps from the stage where it stands now. The Writ Petition is disposed of accordingly. P. R. RAMACHANDRA MENON,JUDGE. pm