IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE ANTONY DOMINIC FRIDAY, THE 11TH JANUARY 2008 / 21ST POUSHA 1929 WP(C).No. 1448 of 2008(V) ------------------------- CMP.3792/2007 of C.J.M.,TRIVANDRUM .................... PETITIONER: -------------- K.KHARIMSA, RAJEENA MANZIL, POOVACHAL, NEDUMANGAD. BY ADV. SRI.A.RAJASIMHAN RESPONDENTS: ---------------- 1. GENERAL MANAGER, STATE BANK OF TRAVANCORE, REGION-II, ZONAL OFFICE, SANTHI NAGAR, THIRUVANANTHAPURAM. 2. AUTHORISED OFFICER, CHIEF MANAGER (ADVANCES), STATE BANK OF TRAVANCORE, REGION-II, ZONAL OFFICE, SANTHI NAGAR, THIRUVANANTHAPURAM. 3. BRANCH MANAGER, STATE BANK OF TRAVANCORE, POOVACHAL P.O, THIRUVANANTHAPURAM. BY SRI.SAI VARGHEESE, SC, SBT THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 11/01/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: ANTONY DOMINIC, J. =============== W.P.(C) NO. 1448 OF 2008 V ===================== Dated this the 11th day of January, 2008 J U D G M E N T The proceedings initiated against the petitioner resulting in an order under Section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 is under challenge. Petitioner also submits that he is in imminent threat of dispossession from his property. Despite various contentions that are raised, all that the petitioner now seeks is thirty days time and undertakes that in the meanwhile he will discharge the whole liability. 2. I heard the standing counsel for the Bank also in this matter. 3. Having regard to the submissions made by both sides, I dispose of this writ petition with the following directions. 1) That within one week from today, the petitioner shall WPC 1448/08 :2 : deposit Rs.1.5 lakhs with the respondent Bank. 2) Subject to this condition, it is directed that further proceedings against the petitioner in pursuance to Ext.P3 shall be kept in abeyance for a period of one month from today. 3) It is made clear that this indulgence shown to the petitioner is only to discharge the liability and save his residential premises from distress sale. If the petitioner does not avail of this opportunity and clear off the liability, the Bank will be at liberty to continue the action without further notice. ANTONY DOMINIC, JUDGE. Rp