IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.R.RAMACHANDRA MENON WEDNESDAY, THE 26TH AUGUST 2009 / 4TH BHADRA 1931 WP(C).No. 24625 of 2009(W) -------------------------- PETITIONER: --------------- FRANCIS M.I, S/O. INASU, AGED 42 YEARS MADAKKATHARAKARAN HOUSE, ST.PAULS STREET KURIACHIRA PO, THRISSUR -6 BY ADV. SRI.C.A.CHACKO ADV. SMT.C.M.CHARISMA ADV. SRI.N.A.SHAFEEK ADV. SRI.K.S.SALEESH RESPONDENTS: --------------- 1. THE AUTHORISED OFFICER TRICHUR URBAN CO-OPERATIVE BANK LTD. NO.87 HEAD OFFICE,MISSION QUARTERS ,THRISSUR -1 2. TRICHUR URBAN CO-OPERATIVE BANK LTD NO.87,REPRESENTED BY SECRETARY, MISSION QUARTERS ,THRISSUR -1 BY ADV. MR. C.D. DILEEP, SC. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 26/08/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: P.R. RAMACHANDRA MENON, J. ........................................................................ W.P.(C)No. 24625 OF 2009 ......................................................................... Dated this the 26th August, 2009 J U D G M E N T The petitioner along with his wife had availed a loan from the respondent Bank in September, 1998. But repayment could not be effected as scheduled, under which circumstances, the respondent Bank proceeded with coercive steps under the Revenue Recovery Act, which in turn is sought to be intercepted in the present Writ Petition. 2. Heard the learned Counsel for the respondent Bank as well. 3. After considering the facts and circumstances, the petitioner is permitted to wipe out the entire liability in a phased manner. Accordingly, the petitioner is directed to remit a sum of Rs.50,000/-(Rupees fifty thousand only) on or before 28.08.2009, the date, on which, the sale has been scheduled and a further sum of Rs. Two lakhs on or before 25.09.2009. The balance amount shall be paid by way of 'five' equal W.P.(C)No. 24625 OF 2009 2 monthly installments, the first of which shall be effected on or before 25.10.2009, to be followed by the remaining installments to be effected on or before the 25th of the succeeding months. Subject to the above, all further proceedings pursuant to Ext.P4 shall be kept in abeyance. It is also made clear that, if any default is committed by the petitioner in satisfying the requirements, as above, the Bank will be at liberty to proceed with further steps from the stage where it stands now, for realisation of the entire amount in a lump sum. This will not be a bar to the petitioner to pursue the steps for such other benefits/concessions sought for vide Ext. P5, which may be considered and decided by the Bank in accordance with law. The Writ Petition is disposed of as above. P.R. RAMACHANDRA MENON, JUDGE. lk