IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN THURSDAY, THE 7TH FEBRUARY 2008 / 18TH MAGHA 1929 WP(C).No. 37909 of 2007(K) -------------------------- PETITIONER: ------------ C.P.KHALID,S/O. MOIDEEN CHEMBANTE PURAKKAL HOUSE, POST CHETTIPADI, PARAPPANANGADI, MALAPPURAM DISTRICT. BY ADV. SRI.K.P.SUDHEER RESPONDENTS: ------------- THE MALAPPURAM JILLA SAHAKARANA BANK LTD NO. 4329, HEAD OFFICE, MALAPPURAM REPRESENTED BY ITS AUTHORISED OFFICER. BY ADV. SRI.U.K.RAMAKRISHNAN SRI.P.V.LOHITHAKSHAN SMT.P.VIJAYAMMA THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 07/02/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: THOTTATHIL B. RADHAKRISHNAN, J. ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ W.P.(C) No. 37909 of 2007-K ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ Dated this the 7th day of February, 2008 J U D G M E N T The petitioner availed a loan in September 2002. He failed to repay the equated monthly instalments. On account of default, recovery steps have been taken under the SARFAESI Act leading to Ext.P1 sale notice. 2. Having heard the learned counsel for the petitioner, I am satisfied that the impugned proceedings is not issued on account of any jurisdictional error or legal infirmity or on any other grounds raised. 3. An interim order was issued in this case on 07/01/2008, granting stay on condition of deposit of Rs.1,50,000/-. If the petitioner remits such amounts within a period of one week from now and pays off the balance amount in four equal monthly instalments payable on or before 20th of every month commencing from March 2008, the impugned proceedings will stand dropped. W.P.(C).No.37909/2007-K -: 2 :- However, if there is any default in paying any of the instalments as aforesaid, including Rs.1,50,000/- already due under the interim order, the benefit of this order will stand recalled automatically and the respondents will be at liberty to forthwith proceed with the impugned action. The writ petition is disposed of as above. Sd/- THOTTATHIL B.RADHAKRISHNAN, Judge ms