IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE ANTONY DOMINIC TUESDAY, THE 5TH AUGUST 2008 / 14TH SRAVANA 1930 WP(C).No. 23300 of 2008(W) -------------------------- CRL.MP.294/2008 of C.J.M.,KOLLAM .................... PETITIONER: ------------ S. GOPALAKRISHNA PILLAI, S/O. SREEDHARAN PILLAI, ASWATHY BHAVAN, EDAVATTOM, MARANADU.P.O, KOLLAM. BY ADV. SRI.C.RAJENDRAN RESPONDENTS: ------------- 1. THE AUTHORISED OFFICER (CHIEF MANAGER), STATE BANK OF TRAVANCORE, REGION V ZONAL OFFICE, THIRUVANANTHAPURAM. 2. D. SUNIL, ADVOCATE COMMISSIONER, ADVOCATE, KOLLAM. BY SC SHRI. SAJI VARGHESE THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 05/08/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: ANTONY DOMINIC, J. -------------------------- W.P.(C) No. 23300 OF 2008 -------------------------- Dated this the 5th August, 2008. JUDGMENT In this writ petition the challenge is against proceedings initiated by the respondent-bank under the provisions of the Securitization and Reconstruction of the Financial Assets and Enforcement of Security Interest Act, 2002. When the matter came up for orders, counsel for the petitioner confines his prayer for an instalment facility. 2. I have heard standing counsel who appeared before the respondent-bank. 3. Having regard to the submissions made by both parties this writ petition is disposed of directing that the petitioner shall pay to the respondent-bank an amount of Rs.2,00,000/- (Rupees two lakhs only) in one week from today and subject to such payment all further proceedings pursuant to Exts.P4 and P5 will stand deferred. It is directed that the balance amount due from the petitioner shall be paid in five equal monthly instalments. The first of which will be paid by the petitioner on or before 5.9.2008 and the WPC 23300/08 2 subsequent instalments will be paid before the fifth of the succeeding months. It is clarified that in case any default is committed, it will be open to the respondent-bank to continue the proceedings without further notice to the petitioner. ANTONY DOMINIC, JUDGE jj