IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.R.RAMACHANDRA MENON TUESDAY, THE 28TH JULY 2009 / 6TH SRAVANA 1931 WP(C).No. 21182 of 2009(P) ----------------------------------------- CMP.551/2009 of C.J.M.,MANJERI .................... PETITIONER(S): ------------------------- 1. ANDIKADAN SAINABA, W/O.ABDU KOTHAPARAMBAN, AGED 45 YEARS, RESIDING AT K.P.HOUSE, ASUPATHRIKUNNU, KARULAYI P.O.NILAMBUR TALUK, MALAPPURAM DISTRICT. 2. ABDU KOTHAPARAMBAN, RESIDING AT K.P.HOUSE, ASUPATHRIKUNNU, KARULAYI P.O., NILAMBUR TALUK, MALAPPURAM DISTRICT. BY ADV.MR.A.RANJITH NARAYANAN MR.S.K.SAJU RESPONDENT(S): ------------------------- THE NILAMBUR CO-OPERATIVE URBAN BANK LTD., MALAPPURAM, REP.BY ITS AUTHORIZED OFFICER (DEPUTY GENERAL MANAGER.) BY ADV. MR.DEVAPRASANTH P.J. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 28/07/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: P.R. RAMACHANDRA MENON, J. ........................................................................ W.P.(C) No.21182 OF 2009 ......................................................................... Dated this the 28 th July, 2009 J U D G M E N T The petitioners have approached this Court by filing the present Writ Petition challenging the coercive steps taken by the respondent Bank invoking the provisions under the SARFAESI Act; simultaneously pointing out that the petitioners are ready and willing to clear the entire liability to the Bank provided some breathing time is given in this regard. 2. The learned Counsel for the petitioners submits that when the petitioners were confronted with the actual facts and figures on an earlier occasion, they had approached this Court by filing W.P.(C)No.8552 of 2009 wherein an interim order was passed by this Court on 18.03.2009 directing to pay a sum of Rs.Three lakhs, subject to which, the coercive steps were intercepted. However, on finding that the condition imposed by this Court was not satisfied, interference was declined and the Writ Petition was dismissed as per Ext.P1 judgment. The learned Counsel for the petitioners submits that the condition W.P.(C) No.21182 OF 2009 2 imposed by this Court was however satisfied though belatedly and that the only relief claimed for in the present Writ Petition is to permit the petitioners to satisfy the entire liability by way of reasonable installments. 3. Prima facie no interference is called for, since the matter has already become final in view of Ext. P1 judgment. However, in view of the persuasive submissions made by the learned Counsel for the petitioners that the challenge raised by the petitioners against the steps taken by the respondent Bank under the SARFAESI Act, is no more intended to be pursued and further since the learned Counsel appearing for the respondent Bank fully concedes that the petitioners had already satisfied the condition imposed by this Court while granting the interim order on 18.03.2009, though belatedly, the Bank is ready and willing to give an opportunity to the petitioners to wipe out the entire liability. 4. The learned Counsel for the Bank submits that the petitioners will have to prove their bonafides by remitting a substantial portion of the liability immediately and that the W.P.(C) No.21182 OF 2009 3 balance amount shall be cleared within a reasonable time thereafter. 5. In the above facts and circumstances, the petitioner is directed to deposit a sum of Rs. One lakh on or before the 15th September 2009 and the balance amount shall be paid on or before the 31st December, 2009. Subject to the above all coercive proceedings stated as being pursued against the petitioners shall be kept in abeyance and if any default is committed by the petitioners in satisfying the liability as above, the respondent 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. The Writ Petition is disposed of as above. P.R. RAMACHANDRA MENON, JUDGE. lk