IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN TUESDAY, THE 30TH SEPTEMBER 2008 / 8TH ASWINA 1930 WP(C).No. 28154 of 2008(B) ------------------------------------------ PETITIONER: -------------------- C.SAJEESH, S/O.KUMARAN, CHERIYAMUNDATH HOUSE, POST MANGATTIRI (VIA) B.P.ANGADI, TIRUR, MALAPPURAM DISTRICT. BY ADV. SRIC.M.MOHAMMED IQUABAL RESPONDENTS: ------------------------- 1. THE TIRUR URBAN CO-OPERATIVE BANK LTD., HEAD OFFICE, TIRUR, MALAPPURAM DISTRICT, REPRESENTED BY ITS GENERAL MANAGER. 2. THE AUTHORISED OFFICER, TIRUR URBAN CO-OPERATIVE BANK LTD., HEAD OFFICE, TIRUR, MALAPPURAM DISTRICT. BY ADV. SRI. P.J.DEVAPRASANTH, SC – R1 & R2 THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 30/09/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: Kss THOTTATHIL B. RADHAKRISHNAN, J. = = = = = = = = = = = = = = = = = = = = = = = = W.P.(C).No.28154 of 2008-B = = = = = = = = = = = = = = = = = = = = = = = = Dated this the 30th day of September, 2008. JUDGMENT Petitioner's father availed a loan from the first respondent and failed to repay. The petitioner faces distress action against the estate of his late father and has, therefore, filed this writ petition challenging action taken by the first respondent under the SARFAESI Act. Giving up all other contentions and the right of the petitioner and the other legal representatives of late Sri.Kumaran, the learned counsel for the petitioner states that this writ petition is filed on behalf of the estate of late Kumaran and that the distress action may be held back to let the outstandings be paid off in instalments to avert any further action. Recording this submission and taking note of the submission of the learned counsel for the respondents that by WP(C)28154/08 -: 2 :- now, the total accruals is above Rs.5,30,000/-, this writ petition is ordered directing that if the entire outstandings, including accruals is paid off in six equal monthly instalments payable on or before the last working day of every month commencing from October, 2008, the distress action will stand deferred and ultimately dropped, if the entire outstandings are satisfied. If there is default in remitting any of the instalments as afore-directed, the benefits of this judgment will stand recalled and the writ petition will stand dismissed automatically enabling the respondents to forthwith proceed with further distress action without further notice to the petitioner. THOTTATHIL B. RADHAKRISHNAN, JUDGE. Sha/300908