IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.R.RAMACHANDRA MENON TUESDAY, THE 30TH MARCH 2010 / 9TH CHAITHRA 1932 WP(C).No. 10876 of 2010(H) --------------------------------------- PETITIONER: ------------------- K.P.ABDURAHIMAN, KINARULLA PARAMBATH HOUSE, P.O.KODIYOORA, KALLACHI, VATAKARA, KOZHIKODE. BY ADVS. SRI.K.RAKESH ROSHAN, SMT.THUSHARA.V. RESPONDENTS: ------------------------ 1. MANAGER, KOZHIKODE DISTRICT CO-OPERATIVE BANK LTD., NADAPURAM, KOZHIKODE DISTRICT. 2. AUTHORISED OFFICER AND SENIOR MANAGER, KOZHIKODE DISTRICT CO-OPERATIVE BANK LTD., KALLAIR ROAD, CALICUT-673 002. R1 & R2 BY SRI. P.V. KUNHIKRISHNAN, S.C. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 30/03/2010,THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: prv. P.R.RAMACHANDRA MENON, J --------------------------- W.P(C) No.10876 of 2010-H ---------------------------- Dated this the 30th day of March, 2010. J U D G M E N T The petitioner is challenging the steps taken by the respondent Bank seeking realisation of the amount allegedly due from the petitioner invoking the remedy under SARFAESI Act. 2. Heard the learned counsel appearing for the Bank, who submits that the challenge raised against the steps as above is not correct or sustainable and the action being pursued by the Bank is strictly in conformity with the statutory requirements and not assailable under any circumstances. 3. The learned counsel for the petitioner submits that the petitioner does not intend to challenge the sustainability of the facts and figures and the steps taken by the Bank invoking the machinery under the SARFEASI Act by fling any statutory appeal before the DRT and that the only relief now pressed before this Court is to permit the petitioner to clear the liability by way of reasonable instalments. 4. After hearing both the sides, this Court finds it fit and proper to permit the petitioner to discharge the liability in a phased W.P(C) No.10876 of 2010-H 2 manner. Accordingly, the petitioner is directed to deposit a sum of Rs.25,000/- within one week and the balance amount shall be cleared by way of 'four' equal monthly instalments; the first of which shall be effected on or before the 30th of April, 2010; to be followed by similar instalments to be effected on or before the 30th of the succeeding months. Subject to the above, all further coercive proceedings pursuant to Ext.P3 shall be kept in abeyance. It is made clear that, if any default is committed by the petitioner in satisfying the due amount as above, it will open to the Bank, to proceed with appropriate steps for realisation of the entire amount in a lump sum, from the stage where it stands now. The Writ Petition is disposed of. Sd/- P.R.RAMACHANDRA MENON JUDGE //True Copy// P.A to Judge ab