IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.R.RAMACHANDRA MENON FRIDAY, THE 28TH AUGUST 2009 / 6TH BHADRA 1931 WP(C).No. 25107 of 2009(G) -------------------------- CMP.5275/2009 of C.J.M., ALAPPUZHA .................... PETITIONER: --------------- BIJOY VARGHESE, S/O.LATE K.B.VARGHESE, KUNNEL HOUSE, ASHRAMOM WARD, AVALOOKUNNU P.O., ARYADU SOUTH, ALAPPUZHA. BY ADV. MR. MATHEW JAMES RESPONDENTS: --------------- 1. BRANCH MANAGER, VIJAYA BANK, ALAPPUZHA. 2. ARUN KURUVILA, ADVOCATE COMMISSIONER. BY ADV. MR. KODOTH SREEDHARAN, STANDING COUNSEL THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 28/08/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: P.R. RAMACHANDRA MENON J. ~~~~~~~~~~~~~~~~~~~~~~~ W.P. (C) No. 25107 of 2009 ~~~~~~~~~~~~~~~~~~~~~~~ Dated, this the 28th day of August, 2009 JUDGMENT The petitioner had availed a loan of Rs. 8.5 lakhs from the first respondent Bank , but the same could not be repaid on time because of some unforeseen circumstances. After effecting a sum of Rs. 2 lakhs, the petitioner had sought for some time to clear the balance amount, which was rejected by the Bank followed by the coercive steps invoking the relevant provisions under the 'SARFAESI Act', which in turn is sought to be challenged in the present Writ Petition. 2. Heard the learned counsel Mr. Kodoth Sreedharan, appearing on behalf of the respondent Bank as well. 3. Considering the facts and circumstances and also the limited relief sought for in the present Writ Petition, the matter is disposed of, directing the petitioner to wipe off the entire liability by way of 'four' equal monthly installments; the first of which shall be effected on or before the 20th of September, 2009 to be followed by the remaining installments to be effected on before the 20th of the succeeding months. Subject to the above, the coercive proceedings stated as being pursued against the petitioner, shall be kept in abeyance. It is made clear that, if any default is committed by the petitioner in satisfying the requirement WP (C) No. 25107 of 2009 : 2 : as above, the respondent Bank will be at liberty to proceed with further steps for realization of the entire amount in a lump sum, from the stage where it stands now. The Writ Petition is disposed of accordingly. P. R. RAMACHANDRA MENON, JUDGE kmd