IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.R.RAMACHANDRA MENON TUESDAY, THE 9TH JUNE 2009 / 19TH JYAISHTA 1931 WP(C).No. 15836 of 2009(Y) ------------------------------------- PETITIONER(S): ----------------------- ABDURAHIMAN KANDOTH, S/O.MUHAMMED HAJI, AGED 54 YEARS, RESIDING AT "KANDOTH HOUSE", PAYYANANGADI, TIRUR, MALAPPURAM DISTRICT. BY ADVS.MR.A.RANJITH NARAYANAN MR.S.K.SAJU SMT.A.SIMI RESPONDENT(S): ----------------------- THE TIRUR URBAN CO-OPERATIVE BANK LTD., HEAD OFFICE-TIRUR, MALAPPURAM DISTRICT, REP. BY AUTHORIZED OFFICER, ASST.GENERAL MANAGER, TIRUR URBAN CO-OPERATIVA BANK LTD., MALAPPURAM DISTRICT. BY MR.DEVAPRASANTH P.J , SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 09/06/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: P.R.RAMACHANDRA MENON, J. ----------------------------------------------- WP(C) NO. 15836 OF 2009 ----------------------------------- Dated this the 9th day of June, 2009 JUDGMENT The petitioner is challenging the sustainability of the proceedings pursued by the respondent Bank under the relevant provisions of SARFEASI Act. It is also stated that the petitioner is ready and willing to clear the entire liability, provided some breathing time is given to him. 2. Heard the learned Counsel Mr.Devaprasanth P.J. appearing on behalf of the respondent Bank as well. 3. After considering the facts and circumstances, particularly, the submission made by the learned counsel appearing for the petitioner that the petitioner would clear the entire liability in four months, the matter is disposed of directing the petitioner to effect a payment of Rs.50,000/- within three weeks and to clear the entire outstanding amount by way of four equal monthly instalments commencing from the 30th of July, 2009. All the coercive proceedings pursued against the petitioner shall be kept in abeyance, for the time being. It is made clear that if the petitioner commits any default in remitting the amounts as aforesaid, the Bank will be at liberty to proceed against the petitioner for realisation of entire amount by way of lump sum. The Writ Petition is disposed of accordingly. P.R.RAMACHANDRA MENON JUDGE dnc