IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN FRIDAY, THE 20TH FEBRUARY 2009 / 1ST PHALGUNA 1930 WP(C).No. 5301 of 2009(G) ------------------------- CMP.3424/2008 of C.J.M.,TRIVANDRUM .................... PETITIONER(S): ------------------------- SRI.M.GOPAKUMAR, PARTNER SKN TIMBERS, KILLIPALAM JUNCTION, THIRUVANANTHAPURAM. BY ADV. MR.SABU GEORGE RESPONDENT(S): --------------------------- 1. THE AUTHORIZED OFFICER, CHIEF MANAGER (ADVANCES), STATE BANK OF TRAVANCORE, REGION - 1, ZONAL OFFICE, SANTHINAGAR, THIRUVANANTHAPURAM. 2. THE MANAGER, STATE BANK OF TRAVANCORE, CHENTHITTA BRANCH, THIRUVANANTHAPURAM. R1 & R2 BY ADV. SATHISH NINAN, SC, SBT THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 20/02/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: Kss THOTTATHIL B. RADHAKRISHNAN, J. = = = = = = = = = = = = = = = = = = = = = = = = W.P.(C).No.5301 of 2009-G = = = = = = = = = = = = = = = = = = = = = = = = Dated this the 20th day of February, 2009. JUDGMENT The petitioner and his brother had a very small commercial activity in timber allied goods. The petitioner's brother Jayakumar afflicted with some renal problems had to be treated. This resulted in the virtual close down of the business and the inability to repay the outstandings in terms of the agreement between the petitioner, his brother and the second respondent bank. The total amount availed was an amount of Rs.1.5 lakhs on 21-3-2002. Accruals added on and the impugned SARFAESI Act proceedings have been initiated. The petitioner does not raise any contention on merits and does not press any challenge to the impugned proceedings. The right to move the DRT under Section 17 of the SARFAESI Act is also given up. WP(C)5301/2009 -: 2 :- Taking into consideration the totality of the facts and circumstances and having heard the learned counsel for the petitioner and the learned counsel for the bank, I am inclined to consider the request of the petitioner that he may be permitted to pay off the instalments and avert distress action by remitting the amounts in instalments. If the petitioner remits an amount of Rs.50,000/- on or before 27-3-2009 and continues to remit at the rate of Rs.30,000/- per month payable on or before the last working day of every month commencing from April, 2009, the impugned distress action will stand deferred and ultimately, dropped on satisfaction of the entire accruals and incidentals. After remitting six instalments among the aforesaid instalments, the bank will also consider sympathetically any request of the petitioner for slashing the total outstandings, if possible. If there is default in remitting any of the instalments as aforesaid, the benefits of this judgment will stand recalled WP(C)5301/2009 -: 3 :- automatically and the writ petition will stand dismissed enabling the bank to forthwith proceed with further distress action without fresh notice to the petitioner. THOTTATHIL B. RADHAKRISHNAN, JUDGE. Sha/240209