IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.R.RAMACHANDRA MENON FRIDAY, THE 28TH AUGUST 2009 / 6TH BHADRA 1931 WP(C).No. 23654 of 2009(B) -------------------------- PETITIONER(S): --------------- P.K.SANTHI, D/O.KRISHNAN, PAYYANNUR HOUSE, KOLOPARAMBU, AYYANTHOLE,THRISSUR BY ADV. SRI.V.CHITAMBARESH, SENIOR ADVOCATE SRI.T.C.SURESH MENON SRI.JIBU P THOMAS SRI.P.S.APPU SRI.A.R.NIMOD SRI.C.A.ANOOP RESPONDENT(S): --------------- 1. THE THISSUR URBAN CO-OP.BANK LTD, REP.BY ITS GENERAL MANAGER, PB.NO.86, HEAD OFFICE, MISSION QUARTERS, THRISSUR 2. THE SPECIAL SALE OFFICE, THE THRISSUR URBAN CO-OP.BANK LTD, HEAD OFFICE, MISSION QUARTERS, THRISSUR 3. MEENAKSHY, D/O.KRISHNAN, PAYYANNUR HOUSE,AYYANTHOLE,THRISSUR 4. JOINT REGISTRAR OF CO-OP.SOCIETIES (GENERAL)THRISSUR. BY SRI. C.D. DILEEP, SC FOR R1 & R2 SRI. P.K. BABU, SR. GOVERNMENT PLEADER THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 28/08/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: P.R.RAMACHANDRA MENON, J. ----------------------------------------------- WP(C) NO. 23654 OF 2009 ----------------------------------- Dated this the 28th day of August, 2009 J U D G M E N T The petitioner had availed a loan from the first respondent in the year 1999 in connection of his business which however could not be repaid on time. This made the respondent Bank to declare the account as NPA followed by appropriate steps under the SARFAESI Act which in turn is subject to intercept in the present Writ Petition. 2. The learned counsel for the petitioner submits that the petitioner is ready and willing to deposit a sum of Rs.1,00,000/- before 11 a.m. tomorrow so as to have the sale attached simultaneously stating that the entire balance amount will be cleared by way of 'six' equal monthly instalments. 3. Heard the learned counsel appearing for the respondent Bank as well. Considering the facts and circumstances, the petitioner is directed to deposit a sum of Rs.1,00,000/- before 11 a.m. tomorrow which has been still attached. This will be in addition to the liability of the petitioner to clear the entire liability by way of 'six' equal monthly instalments, the first of which shall be effected on or before the 25th of September, 2009 to be WPC NO.23654/2009 2 followed by remaining instalments to be effected on or before the 25th of the the succeeding months. It is also made clear that, if any default is committed by the petitioner in satisfying the liability as above, the respondent Bank will be at liberty to proceed with further steps for realisation of the entire amount in a lump sum by pursuing the steps from the stage where it stands now. The Writ Petition is disposed of accordingly. P.R.RAMACHANDRA MENON JUDGE dnc