IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HON'BLE THE CHIEF JUSTICE MR.J.CHELAMESWAR & THE HONOURABLE MR. JUSTICE P.N.RAVINDRAN TUESDAY, THE 13TH JULY 2010 / 22ND ASHADHA 1932 WA.No. 1106 of 2010 --------------------- AGAINST THE JUDGEMENT IN WPC.15383/2010 Dated 27/05/2010 .................... APPELLANT/PETITIONER: --------------------------- VIJAYAN.P.G,S/O.GOVINDAN,AGED 54 YEARS, POOVELIPUTHENPURAYIL,MEMUGHAN KARA, MANEED VILLAGE. BY ADV. SRI.BIJU ABRAHAM RESPONDENTS/RESPONDENTS: ---------------------------------- 1. STATE BANK OF TRAVANCORE,PIRAVOM BRANCH, REPRESENTED BY ITS MANGER. 2. THE AUTHORISED OFFICER & CHIEF MANAGER, STATE BANK OF TRAVANCORE,PIRAVOM. R1 & R2 BY ADV. SRI.SATHISH NINAN, SC, SBT THIS WRIT APPEAL HAVING COME UP FOR ADMISSION ON 13/07/2010, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: J.Chelameswar, C.J. & P.N.Ravindran, J. ------------------------------------------ W.A. No.1106 of 2010 ------------------------------------------ Dated this the 13th day of July, 2010 JUDGMENT J.Chelameswar, C.J. The partially successful petitioner in W.P.(C) No.15383 of 2010 is the appellant herein. He borrowed some money from the first respondent Bank and defaulted in repayment of the money and therefore, the first respondent Bank invoked the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short 'the SARFAESI Act'). Challenging the said decision, the abovementioned writ petition came to be filed. 2. By the judgment under appeal, a learned Judge of this Court directed the appellant to deposit an amount of Rs.50000/- on or before 15.6.2010 and the balance amount to be paid in five equal monthly instalments with a further direction that subject to such payment the coercive steps to be taken under the abovementiond Act shall be kept in abeyance. 3. Not satisfied with the indulgence shown by the learned Judge, the instant writ appeal is filed. We do not see any reason to interfere with W.A.No.1106 of 2010 - 2 - the judgment under appeal. The writ appeal is therefore dismissed at the admission stage. 4. In view of the fact that the time schedule indicated in the judgment under appeal could not be complied with by the appellant, learned counsel for the appellant prayed that the appellant may be permitted to make the payment as directed by the judgment under appeal within a reasonable time. Heard Sri.Sathish Ninan, learned counsel appearing for the respondent Bank. In the circumstances, the appellant is permitted to pay the first instalment of Rs.50000/- on or before 14th of August, 2010 and the balance in five equal monthly instalments payable on or before 14th of every succeeding month thereafter failing which the first respondent Bank is at liberty to proceed with the auction under the SARFAESI Act. J.Chelameswar, Chief Justice P.N.Ravindran, Judge vns