IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.R.RAMACHANDRA MENON FRIDAY, THE 29TH MAY 2009 / 8TH JYAISHTA 1931 WP(C).No. 2882 of 2009(R) ------------------------- PETITIONER: ------------------ M.N.BHASKARAN NAIR, P.W.D.CONTRACTOR, 'USHUS', PAZHAVEEDU P.O., ALAPPUZHA DISTRICT. BY ADV. SRI.S.SANAL KUMAR RESPONDENTS: ----------------------- 1. THE CHIEF MANAGER (ADVANCES) STATE BANK OF TRAVANCORE, REGION-3, ZONAL OFFICE, ERNAKULAM. 2. THE MANAGER, STATE BANK OF TRAVANCORE, PAZHAVEEDU BRANCH, ALAPPUZHA. BY ADV. MR. SANTHOSH MATHEW, SC. SBT. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 29/05/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: P.R. RAMACHANDRA MENON, J. ........................................................................ W.P.(C) No.2882 OF 2009 ......................................................................... Dated this the 29th May, 2009 J U D G M E N T Securitisation proceedings initiated by the Bank against the property of the petitioner are under challenge. It is brought to light that after negotiations, the parties have entered into a settlement, which has been reduced into writing and a statement has been filed before this Court pointing out that the entire liability would stand wiped out on payment of a total sum of Rs. 17 lakhs, out of which, a sum of Rs. One lakh is to be paid immediately and the balance amount of Rs. 16 lakhs is to be paid on or before 30th of September, 2009. It is also made clear therein that in case of any default in remitting the payment as above, further proceedings could be proceeded with under the SARFAESI Act, pursuant to Ext.P1 notice for realisation of the entire amount with interest. In the above circumstances, nothing survives further to be W.P.(C) No.2882 OF 2009 2 adjudicated in the present Writ Petition. Accordingly, recording the submission as above, the Writ Petition is closed. P.R. RAMACHANDRA MENON, JUDGE. lk