IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN FRIDAY, THE 3RD APRIL 2009 / 13TH CHAITHRA 1931 WP(C).No. 10707 of 2009(G) ---------------------------------------- PETITIONER(S): ------------------------ 1. SREELAL.P., AGED 32 YEARS, S/O.K.K.PRAKASAN, SREENILAYAM, MUHAMMA P.O., ALAPPUZHA DISTRICT. 2. PARAMESWARAN, AGED 63 YEARS, CHANIYIL, KUNJIKUZHY VILLAGE, S.N.PURAM P.O., CHORAMANGALAM, CHERTHALA, ALAPPUZHA DISTRICT. BY ADV. MR.B.S.SIVAJI RESPONDENT(S): ---------------------------- THE AUTHORISED OFFICER AND CHIEF MANAGER, UNION BANK OF INDIA, ALAPPUZHA BRANCH, ALAPPUZHA. BY ADV. MR. A.S.P.KURUP, SC, UBI THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 03/04/2009,THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: Kss THOTTATHIL B. RADHAKRISHNAN, J. = = = = = = = = = = = = = = = = = = = = = = = = W.P.(C).No.10707 of 2009-G = = = = = = = = = = = = = = = = = = = = = = = = Dated this the 3rd day of April, 2009. JUDGMENT The first petitioner availed a cash credit facility and a term loan with the second petitioner being the guarantor. As against the total outstandings reflected by Ext.P1, the petitioners state that they paid amounts which have reduced the total outstandings to be to Rs.11,18,497.55 as on 31st October, 2007. Interest also accrued thereon. There is no jurisdictional error or legal infirmity in the impugned proceedings. The petitioners confine the request to be for an opportunity for payment in instalments. This writ petition is accordingly ordered directing that if the petitioners remit an amount of Rs.4 lakhs within two weeks from now and continue to remit WP(C)10707/09 -: 2 :- at the rate of Rs.2 lakhs per month payable on or before the 27th of every month commencing from May, 2009, the impugned distress action will stand deferred and dropped on being satisfied of the payment of the whole amount, including accruals. It is clarified that this judgment will not stand in the way of the petitioners being extended any ameliorative benefits at the discretion of the bank. If there is default in remitting any of the instalments as aforesaid, the benefits of this judgment will stand recalled automatically and the writ petition will stand dismissed enabling the bank to forthwith proceed with further distress action without fresh notice to the petitioners. THOTTATHIL B. RADHAKRISHNAN, JUDGE. Sha/060409