IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE ANTONY DOMINIC TUESDAY, THE 25TH MARCH 2008 / 5TH CHAITHRA 1930 W.P(C).No. 9268 of 2008(C) -------------------------------- PETITIONER: -------------- V.R. RAJASEKHARAN NAIR,AGED 46 YEARS S/O.LATE K.N.RAGHAVAN PILLAI,REVINDRA VILASAM ANGADICKAL SOUTH,ANGADICKAL P.O., CHENGANNUR 689 122 BY ADV. SRI.P.B.SAHASRANAMAN RESPONDENTS: ---------------- 1. STATE BANK OF INDIA, REPRESENTED BY ITS CHIEF MANAGER, CHENGANNUR BRANCH, CHENGANNUR ALAPPUZHA DISTRICT PIN 689 121. 2. THE AUTHORISED OFFICER, STATE BANK OF INDIA, CHENGANNUR, ALAPPUZHA DISTRICT PIN - 689 121. BY ADV. SRI.GEORGE THOMAS (MEVADA), SC, SBI SRI.SATHISH NINAN, SC FOR BANK THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 25/03/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: ANTONY DOMINIC, J. =============== W.P.(C) NO. 9268 OF 2008 C ==================== Dated this the 25th day of March, 2008 J U D G M E N T The petitioner against whom proceedings have been initiated by the Bank under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act has approached this court challenging Ext.P2, a sale notice published by the Bank. It is stated on behalf of the Bank that about Rs. 8 lakhs is due from the petitioner and although the petitioner has paid Rs. 4 lakhs after the initiation of the proceedings, the balance remains unpaid. The counsel only seeks an instalment facility for discharging the balance liability. 2. I heard the standing counsel for the Bank as well in this respect. 3. Having regard to the submissions made, I dispose of this writ petition directing that the petitioner shall pay the balance amount due to the Bank in three equal monthly instalments, first of which will be payable before 31st of March, 2008 and the second and third instalments will be payable before 30th of April and 31st of May 2008. Subject to payment as WPC 9268/08 :2 : above, further proceedings will stand deferred and in case the petitioner commits default, the Bank will be free to continue the proceedings that are already initiated. Writ petition is disposed of as above. ANTONY DOMINIC,JUDGE. Rp