IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOMAS P.JOSEPH MONDAY, THE 7TH MARCH 2011 / 16TH PHALGUNA 1932 Crl.MC.No. 193 of 2011() ----------------------------- CMP.3005/2010 of CHIEF JUDICIAL MAGISTRATE COURT, THIRUVANANTHAPURAM .................... PETITIONER(S): IST RESPONDENT ---------------------------------------- J.GIREESH RAM, AGED 46 YEARS, S/O.E.JOSEPH, S.S.KOVIL ROAD, KOWDIAR P.O., THIRUVANANTHAPURAM. BY ADV. SRI.P.V.ANIL RESPONDENT(S): STATE AND PETITIONER ------------------------------------------------- 1. STATE OF KERALA, REP. BY THE PUBLIC PROSECUTOR, HIGH COURT OF KERALA, ERNAKULAM. 2. UNION BANK OF INDIA, RETAIL ASSET BRANCH, STATUE, THIRUVANANTHAPURAM. R1 BY PUBLIC PROSECUTOR SRI.K.J.MOHEMMED ANZAR R2 BY ADV. SRI.A.S.P.KURUP, SC, UBI THIS CRIMINAL MISC. CASE HAVING COME UP FOR ADMISSION ON 07/03/2011, THE COURT ON THE SAME DAY PASSED THE FOLLOWING: svs THOMAS P JOSEPH, J. ---------------------------------------- Crl.M.C.No.193 of 2011 --------------------------------------- Dated this 07th day of March, 2011 ORDER Petitioner is the first respondent in C.M.P.No.3005 of 2010 of the Court of learned Chief Judicial Magistrate, Thiruvananthapuram, a proceeding initiated by the second respondent under sec.14(1) of the Securtisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short, "the Act”). Second respondent claimed that certain amount is due from petitioner but, it has not been paid and hence action was sought under the provision referred above. Learned Chief Judicial Magistrate passed Annexure A-2, order on 11.08.2010 granting time to the petitioner to settle the matter as petitioner requested two months' time to clear the liability. The case was called on 12.10.2010. It is recorded that on that day, petitioner was absent but, counsel sought one months' further time for settlement of the claim. That request was also allowed and the case was posted on 18.11.2010. On that day learned Chief Judicial Magistrate passed Annexure A-3, order stating that petitioner was absent, there was no representation and hence an Advocate Crl.M.C.No.193 of 2011 -: 2 :- Commissioner is appointed to take possession of the vehicle. Annexure-3, order is under challenge. Learned counsel submitted that it is not correct to say that there was no representation before the learned Chief Judicial Magistrate on 18.11.2010. It is also submitted by learned counsel that petitioner has already paid a substantial amount and the balance amount payable is only `.1,52,000/- which he is prepared to pay within four months. Learned counsel submitted that petitioner is not in a financially sound position to pay the entire amount immediately. I have heard learned counsel for second respondent and the learned Public Prosecutor as well. 2. Having regard to the circumstances stated, I am inclined to give petitioner four months' time to clear the liability to the second respondent. 3. This Court had on 21.01.2011 passed an interim order staying operation of Annexure A-3, order for a period of one month subject to condition that petitioner paid to the second respondent `.50,000/- within ten days from the said day and that he would not transfer or otherwise dispose of the vehicle or remove the same from the local limits of jurisdiction of learned Chief Judicial Magistrate, Thiruvananthapuram during the said Crl.M.C.No.193 of 2011 -: 3 :- period of one month for which the stay was granted. 4. While petitioner is given facility for installment payment, interest of the second respondent also has to be protected. Hence the grant of time must be subject to condition. Resultantly this criminal miscellaneous case is disposed of in the following lines: (i) Petitioner is permitted to clear the entire liability to the second respondent in four (4) equal monthly installments beginning from 11.03.2011. (ii) The amount shall be deposited in the trial court on or before the 11th of every month beginning from 11.03.2011 and if the due day happens to be a holiday, deposit shall be made on the next working day. (iii) It will be sufficient compliance if petitioner paid the amount directly to the second respondent and produced receipt issued by the second respondent in the court below on or before the due date mentioned above. (iv) In case petitioner committed default in payment of any of the installments, it will be open to the second respondent to proceed with Annexure A-3, order. (v) Annexure A-3, order passed by the learned Chief Judicial Magistrate will stand in abeyance during the said period of four months Crl.M.C.No.193 of 2011 -: 4 :- from 11.03.2011 or, till default is committed by the petitioner whichever is earlier. (vi) Petitioner shall not, during the said period transfer or otherwise dispose of or remove the vehicle from the local limits of the jurisdiction of the court below. (THOMAS P JOSEPH, JUDGE) Sbna/-