IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE ANTONY DOMINIC THURSDAY, THE 3RD APRIL 2008 / 14TH CHAITHRA 1930 WP(C).No. 10707 of 2008(Y) -------------------------- PETITIONER: ------------ VASANTHY, W/O.SIVAPRAKASAN, PUDUKKATTIL POKKARUPARAMBIL HOUSE, THANISSERY, IRINJALAKUDA, THRISSUR DT. BY ADV. SRI.M.SHAJU PURUSHOTHAMAN SRI.K.S.RAJESH RESPONDENTS: ------------- 1. UNION BANK OF INDIA, REP. BY ITS CHIEF MANAGER (OFFICIATING) & AUTHORISED OFFICER, TRICHUR MAIN BRANCH, TRICHUR. 2. THE SENIOR MANAGER, UNION BANK OF INDIA, IRINJALAKUDA BRANCH, P.B.NO.13, MAIN ROAD, IRINJALAKUDA. BY SC FOR BANK A.S.P.KURUP THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 03/04/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: ANTONY DOMINIC, J. ------------------------------------------- W.P.C.No.10707 of 2008 ------------------------------------------- Dated this the 3rd day of April, 2008 JUDGMENT In this writ petition, the petitioner is challenging the proceedings initiated by the respondent bank resulting in Ext.P1 possession notice issued under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Act. The liability is not in dispute and that what is prayed for is an instalment facility to pay the amount. 2. According to the standing counsel for the bank, the total amount due is more than Rs.2 lakhs and that the bank has already taken possession of the property and the sale is to be conducted. 3. However, having regard to the fact that the petitioner is only making a limited request, I am inclined to permit the petitioner to discharge the liability. Accordingly, I dispose of this writ petition directing that the petitioner shall remit an amount of Rs.50,000/- before the 30th of April 2008 with the WPC 10707/08 2 respondent bank. Subject to such payment further proceedings will stand deferred. The balance amount will be paid by the petitioner in four equal monthly instalments, the first of which will be payable on 30th May 2008 and the balance on 30th of every succeeding month. It is clarified that in case any default is committed, the bank will be free to continue the proceedings. ANTONY DOMINIC, JUDGE csl