IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE ANTONY DOMINIC THURSDAY, THE 13TH MARCH 2008 / 23RD PHALGUNA 1929 W.P(C).No. 7173 of 2008(D) ------------------------------- PETITIONER: --------------- SMT.M.S.CHANDRIKA, W/O.SHRI.V.K.RAMESAN, HOUSE NO. VP 4/93 'LAVANYA' MELATHUMELA, P.O.MANIKANTESWARAN THIRUVANANTHAPURAM. BY ADV. SRI.T.GOPALAKRISHNAN RESPONDENTS: ------------------ 1. THE AUTHORISED OFFICER ASSISTANT GENERAL MANAGER, SARC STATE BANK OF INDIA, ZONAL OFFICE IST FLOOR, CHILD WELFARE COMPLEX, LMS COMPOUND THIRUVANANTHAPURAM -23. 2. THE BRANCH MANAGER STATE BANK OF INDIA, STATUE BRANCH (EVENING) THIRUVANANTHAPURAM. BY ADV. SRI.K.K. CHANDRAN PILLAI, SC FOR BANK THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 13/03/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: ANTONY DOMINIC, J. = = = = = = = = = = = = = = W.P.(C) No. 7173 OF 2008 - D = = = = = = = = = = = = = = Dated this the 13th March, 2008 J U D G M E N T Petitioner who had availed of a housing loan has defaulted in repayment right from the beginning. A suit was filed by the bank and that was also decreed. Thereafter proceedings were initiated under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 and possession was also taken over. It is subsequently when the bank published the sale notice on 11.2.2008 this writ petition has been filed. 2. Though several contentions are raised, all that is pressed before me is an order enabling the petitioner to discharge the liability in instalments, and thus to save the property from a distress sale. Taking into account the above, I dispose of this writ petition giving facility to the petitioner for paying the entire amount in the following manner: 1. That within one week from today the respondent bank shall intimate the total amount that is due from the petitioner. On receipt W.P.(C) No. 7173 OF 2008 - 2 - of the statement and before 31.3.2008 the petitioner shall remit 1/3rd of the said amount with the respondent bank. It is also directed that the balance amount due will be paid by the petitioner in 4 equal monthly instalments, the first of which will be payable in the first week of May, 2008 and the subsequent instalments will be payable in the first week of every succeeding month. Subject to payment as above, the proceedings will stand adjourned and in case any default is committed, the bank will be free to continue the action that it has already initiated. ANTONY DOMINIC JUDGE jan/-