IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE ANTONY DOMINIC TUESDAY, THE 5TH AUGUST 2008 / 14TH SRAVANA 1930 WP(C).No. 22125 of 2008(H) -------------------------- PETITIONER: ------------ K.G. ALPHONSA, W/O.T.C. ABRAHAM, THALAKKOODAN HOUSE, AVINISSERY, OLLUR VILLAGE, THRISSUR. BY ADV. SRI.V.BINOY RAM RESPONDENTS: ------------- 1. STATE BANK OF TRAVANCORE, OLLUR BRANCH, THRISSUR REP. BY THE MANAGER. 2. THE CHIEF MANAGER (ADVANCES), REGION-VI, STATE BANK OF TRAVANCORE, REGIONAL OFFICE, THRISSUR. BY ADV. SRI.M.PATHROSE MATTHAI (SR.) SRI.SAJI VARGHESE THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 05/08/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: ANTONY DOMINIC, J ----------------------------------------------------------- W.P.(C).No.22125/2008 ----------------------------------------------------------- Dated this the 5th day of August, 2008 JUDGMENT Petitioner submits that she had availed of a loan for house building purpose from the respondent Bank. Admittedly, default was committed and proceedings were initiated under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act. Ext.P2 is the notice under Section 13(2) of the Act. Counsel contends that, after receipt of Ext.P2, petitioner has already paid an amount of Rs.1 lakh and what remains is about 7.75 lakhs. 2. Though several contentions were pleaded in the writ petition, when the matter was taken up for hearing, all that is pressed before me is a request for an instalment facility to discharge the liability. WP(c).No.22125/2008 2 3. I heard the counsel for the Bank also, who submits that there are other charges over the very same property. Counsel also objects the request of the petitioner for instalment facility. 4. Despite the objection by the Bank, still having regard to the fact that the petitioner is desirous of discharging the liability and to avoid coercive action now initiated by the Bank, I feel that yet another opportunity be granted to the petitioner, as this will also ensure recovery of the Bank's dues as well. Accordingly, the writ petition is disposed of directing that, within 4 weeks from today, subject to the petitioner remitting 1/3rd of the amount that is due to the Bank,further coercive action against the property of the petitioner will be kept in abeyance. It is also directed that balance amount due from the petitioner will be paid in six equal monthly instalments. The first instalment shall be paid by the WP(c).No.22125/2008 3 petitioner before 4.10.2008 and subsequent instalments shall be paid on or before 4th of every succeeding month. It is clarified that, in case the petitioner commits defaults in paying any one of the intalment the Bank will be free to continue the proceedings already initiated, without further notice. ANTONY DOMINIC JUDGE vi. WP(c).No.22125/2008 4