IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.R.RAMACHANDRA MENON TUESDAY, THE 16TH FEBRUARY 2010 / 27TH MAGHA 1931 WP(C).No. 1391 of 2010(Y) ------------------------- PETITIONER(S): --------------- ABRAHAM PHILIP ALIAS A.P.VALLUKADAN, AGED 49 YEARS, S/O.PHILIPOSE, STERLING HOUSE,KALOOR-KADAVANTHARA ROAD, KOCHI-682 017. BY ADV. SRI.B.RAMACHANDRAN RESPONDENT(S): --------------- 1. UNION OF INDIA, REPRESENTED BY SECRETARY, MINISTRY OF FINANCE, NEW DELHI. 2. FEDERAL BANK LTD., BROADWAY BRANCH, REPRESENTED BY ITS BRANCH MANAGER. 3. THE RECOVERY OFFICER, DEBT RECOVERY TRIBUNAL, ERNAKULAM. ADV. SRI.T.P.M.IBRAHIM KHAN,ASST.S.G OF INDI FOR R1 SRI.MOHAN JACOB GEORGE FOR R2 SMT.P.V.PARVATHI FOR R2 SMT.REENA THOMAS FOR R2 SRI.L.RAM MOHAN FOR R2 THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 16/02/2010, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: P.R. RAMACHANDRA MENON, J. ----------------------------------------------- WP(C) No. 1391 of 2010 --------------------------------------- Dated, this the 16th day of February, 2010 J U D G M E N T The petitioner had availed a loan from the respondent Bank. Admittedly the petitioner could not satisfy the repayment on time. It is stated that the 2nd respondent approached the DRT, Ernakulam and obtained an ex-parte decree. The recovery proceedings being pursued at the instance of the respondent Bank have been sought to be intercepted in the Writ Petition. 2. When the matter came for consideration before this Court on 29.01.2010, coercive steps were intercepted on condition that the petitioner deposited a sum of Rs.3,00,000/- within ten days. The learned counsel for the petitioner submits that the payment could be effected only on 11.02.2010 and the delay caused in this regard is sought to be condoned. The learned counsel appearing for the Bank submits on instructions that, after giving credit to the amount remitted by the petitioner, though belatedly, a sum of about Rs.9.43 lakhs is still due to wipe off the liability under the loan transaction. 3. Considering the facts and circumstances and submissions made from the part of the petitioner through the learned counsel, the WP(C) No.1391/2010 2 petitioner is permitted to clear the entire liability by way of ‘six’ equal monthly instalments, the first of which shall be effected on or before the 20th of March, 2010, to be followed by similar instalments to be effected on or before the 20th of the succeeding months. Subject to the above, all the recovery proceedings stated as being pursued against the petitioner shall be kept in abeyance. It is made clear that if any default is committed by the petitioner in satisfying the liability as above, the respondent Bank will be at liberty to proceed with further steps for realisation of the entire amount in a lump sum. The Writ Petition is disposed of accordingly. P. R. RAMACHANDRA MENON JUDGE dnc