IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.R.RAMACHANDRA MENON THURSDAY, THE 10TH MARCH 2011 / 19TH PHALGUNA 1932 WP(C).No. 6076 of 2011(H) ------------------------- PETITIONER: --------------- GEORGE M.P., S/O.POULOSE, AGED 56 YEARS, PROPRIETOR, JOYAL INDUSTRIES, MUTTATHUSSERY HOUSE, PONGANAMKADU, KURICHIKKARA POST, TRICHUR. BY ADV. MR. C.A.CHACKO RESPONDENTS: --------------- 1. STATE BANK OF TRAVANCORE, SARC, (SME BRANCH), RASECC, THRISSUR, REP. BY ITS CHIEF MANAGER-680001. 2. THE DEPUTY TAHSILDAR (RR), THRISSUR-680001. 3. THE VILLAGE OFFICER, KURICHIKKARA VILLAGE, THRISSUR-680001. R1 BY ADV. MR. T.SETHUMADHAVAN MR. PUSHPARAJAN KODOTH R2 AND R3 BY SENIOR GOVERNMENT PLEADER MR. BIJOY CHANDRAN THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 10/03/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: P.R. RAMACHANDRA MENON J. ~~~~~~~~~~~~~~~~~~~~~~~ W.P (C) No. 6076 OF 2011 ~~~~~~~~~~~~~~~~~~~~~~~ Dated, this the 10th day of March, 2011 JUDGMENT The petitioner had availed a cash credit facility of Rs. 2 lakhs from the respondent Bank in connection with running of the industry of the petitioner. But, the repayments could not be effected on time, which led to the revenue recovery proceedings, at the instance of the Bank. The petitioner is before this Court, challenging the said proceedings 2. The first respondent Bank has filed a statement, pointing out that, there was no other alternative for the Bank but to proceed with the coercive steps, as the default was beyond the permissible limit. It is pointed out that, as on 05.10.2010, a sum of Rs.6,50,772/- with further interest is due from the petitioner. 3. The learned counsel for the petitioner submits that, the default was only because of some unforeseen circumstances and that the petitioner is ready and willing to clear the entire liability, for which some reasonable time is sought for. 4. After hearing both sides, this Court finds it fit and proper to permit the petitioner to clear the liability by way of 'six' equal monthly installments; the first of which shall be effected on or before the 31st of this month, W.P. (C) No. 6076 of 2011 2 followed by similar installments to be effected on or before the last working day of the succeeding months. Subject to this, the recovery proceedings, stated as being pursued against the petitioner shall be kept in abeyance. It is made clear that, if the petitioner commits any default in remitting the installments as aforesaid, the respondents will be at liberty to proceed with such steps for realization of the entire amount in lump sum, from the stage where it stands now. The Writ Petition is disposed of. P. R. RAMACHANDRA MENON, JUDGE kmd