IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN WEDNESDAY, THE 18TH JUNE 2008 / 28TH JYAISHTA 1930 WP(C).No. 18227 of 2008(T) -------------------------- PETITIONER: ------------ PRADEEPKUMAR.B, PROPRIETOR, M/S.TWINS AUTO GARAGE, MANGARAM, KONNI PO., PATHANAMTHITTA BY ADV. DR.GEORGE ABRAHAM RESPONDENTS: ------------- 1. KERALA STATE CO.OP.BANK LTD., REP. BY ITS MANAGING DIRECTOR, STATE CO.OP.BANK BUILDING, OVER BRIDGE JUNCTION, THIRUVANANTHAPURAM 2. THE AUTHORISED OFFICER, REGIONAL OFFICE, KERALA STATE CO.OP.BANK LTD., STATE CO.OP.BANK BUILDING OVER BRIDGE JUNCTION, THIRUVANANTHAPURAM-1 3. THE BRANCH MANAGER, KERALA STATE CO.OP.BANK LTD., PATHANAMTHITTA BRANCH PATHANAMTHITTA BY ADV. SRI.NAGARAJ NARAYANAN,SC,K.S.CO-OP BANK FOR R1 TO 3 THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 18/06/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: THOTTATHIL B. RADHAKRISHNAN, J. ---------------------------------------------------------------- W.P.(C) NO.18227 OF 2008 ---------------------------------------------------------------- Dated this the 18th day of June, 2008 J U D G M E N T Standing counsel takes notice for respondents before admission. 2. Having argued the matter for quite some time and having been faced with the situation that there is no jurisdictional error or legal infirmity in the impugned proceedings, the learned counsel appearing for the petitioner ultimately confined the submissions to a request that having regard to the fact that the petitioner's two sons are now employed abroad and because of the plea of mismanagement of the establishment by an employee, the petitioner may be permitted to repay the amount in instalments and escape from SARFAESI Act proceedings. 3. Having regard to the total amount involved and having heard the contentions and considering the pleadings and submissions, this writ petition is ordered directing that if the petitioner deposits an amount of Rs.2,00,000/- within two weeks and a further amount of Rs.3,00,000/- in another five weeks, he will be permitted to pay off the remaining outstandings in monthly W.P.(C) No.18227/2008 - 2 - instalments of Rs.two lakhs each payable on or before the 25th of every month commencing from August 2008. If there is default in remitting any of the instalments as afore-directed, the benefit of this judgment shall stand recalled automatically and the respondents will be at liberty to forthwith proceed with further distress action. This writ petition is ordered accordingly. THOTTATHIL B. RADHAKRISHNAN, JUDGE skr/19-6-2008 W.P.(C) No.18227/2008 - 2 -