IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN TUESDAY, THE 30TH SEPTEMBER 2008 / 8TH ASWINA 1930 WP(C).No. 28863 of 2008(J) ---------------------------------------- PETITIONER: -------------------- LAKSHMI BAI, VAZHAVILA VEEDU, TC 23/180(4),VALIYASALA, CHALA.P.O, THIRUVANANTHAPURAM. BY ADV. SRI.M.R.SARIN RESPONDENT: ----------------------- AUTHORISED OFFICER, CENTRAL BANK OF INDIA, TRIVANDRUM BRANCH, TRIVANDRUM. BY ADV. SRI. DEVAN RAMACHANDRAN, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 30/09/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: Kss THOTTATHIL B. RADHAKRISHNAN, J. = = = = = = = = = = = = = = = = = = = = = = = = W.P.(C).No.28863 of 2008-J = = = = = = = = = = = = = = = = = = = = = = = = Dated this the 30th day of September, 2008. JUDGMENT The petitioner availed a loan from the bank of which the respondent is the authorized officer. No repayment was made in time and this has led to the impugned action under the SARFAESI Act. The transaction is not disputed. The outstandings have accrued and the learned counsel for the petitioner states on behalf of his client that she gives up all the contentions and also her right to move the DRT or other authority under the SARFAESI Act and requests that the entire outstandings will be paid in instalments. Having regard to the amount covered by Ext.P1, this writ petition is ordered directing that if the petitioner deposits at the rate of Rs.2 lakhs per month payable on or before the last working WP(C)28863/2008 -: 2 :- day of every month commencing from October, 2008, the impugned action will be held back and ultimately dropped, if the entire outstandings are satisfied. If there is default in depositing any of the instalments as aforesaid, the benefits of this judgment will stand recalled and the writ petition will stand dismissed automatically enabling the respondent to forthwith proceed with further distress action without further notice to the petitioner. THOTTATHIL B. RADHAKRISHNAN, JUDGE. Sha/300908