IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE ANTONY DOMINIC FRIDAY, THE 11TH MARCH 2011 / 20TH PHALGUNA 1932 WP(C).No. 7781 of 2011(W) ------------------------- PETITIONER(S): --------------- 1. FAIZAL A., S/O. ABDUL HAMEED, AGED 30 YEARS, PROP. M.M.TRADERS, KAICHOONDY JUNCTION, VELIYAPARAMBIL HOUSE, THONDANKULANGARA, ALAPPUZHA. 2. NOUSHAD, S/O. ABDUL HAMEED, AGED 48 YEARS, BISMI HOUSE, AVALOOKUNNU WARD, ALAPPUZHA. BY ADV. SRI.V.L.SHENOY SRI.L.JAYAWANTH RESPONDENT(S): --------------- 1. STATE BANK OF TRAVANCORE, REPRESENTED BY ITS BRANCH MANAGER, VADAICANAL BRANCH, ALAPPUZHA - 688 011. 2. STATE BANK OF TRAVANCORE, REPRESENTED BY ITS AUTHORISED OFFICER, CHIEF MANAGER (ADVANCES), PANAMPILLY NAGAR, ERNAKULAM, KOCHI - 682 016. BY SC SRI. SATHISH NINAN THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 11/03/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: ANTONY DOMINIC, J. -------------------------------------------------- W.P.(C) NO.7781 OF 2011(W) -------------------------------------------------- Dated this the 11th day of March, 2011 J U D G M E N T Practitioners have availed of loan from the respondent Bank mortgaging their immovable properties. Default was committed and therefore proceedings under the SARFAESI Act were initiated. Finally an order was passed by the Chief Judicial Magistrate, Alappuzha under Section 14 of the Act and the mortgagor has issued Ext.P3 notice stating that possession will be taken over on 12.3.2011. It is at this stage the writ petition is filed. 2. Counsel for the petitioner confines his prayer for an instalment facility to discharge the liability. 3. I heard the standing counsel appearing for the Bank. Though the counsel for the Bank opposed the prayer, taking note of the submission of the counsel for the petitioners that they do not dispute the liability, I think that the petitioners should be permitted to discharge the liability in instalments. Accordingly, the writ petition is disposed of with the following directions. WPC.No. 7781/2011 :2 : Petitioner shall pay the amount due to The Bank in six equal monthly instalments, first of which will be paid on or before 31.3.2011. The remaining instalments shall be paid on or before the last working day of every succeeding month. Subject to such payment, the coercive steps will be deferred and in case default is committed, the Bank will be free to continue the proceedings for recovering the amount due. Standing counsel will communicate the judgment to the Bank. (ANTONY DOMINIC) JUDGE vi/