IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN THURSDAY, THE 28TH FEBRUARY 2008 / 9TH PHALGUNA 1929 WP(C).No. 4382 of 2008(V) ------------------------- PETITIONER: ------------- T.P.AKBER, S/O.RASHEED AHAMMED, AGED 34 YEARS, ANANDA MANDIRAM, P.O.VANIYAMBALAM, MALAPPURAM DISTRICT. BY ADV. SRI.K.M.SATHYANATHA MENON SMT.S.SMITHA (PARAKKAL) RESPONDENT: --------------- THE AUTHORISED OFFICER, NILAMBUR CO-OPERATIVE URBAN BANK LIMITED NO.4 1043, NILAMBUR, MALAPPURAM DISTRICT. BY ADV. SRI.DEVAPRASANTH.P.J. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 28/02/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: THOTTATHIL B.RADHAKRISHNAN, J. ------------------------------------------- W.P(C).No. 4382 OF 2008 ------------------------------------------- Dated this the 28th day of February, 2008 JUDGMENT The condition imposed at the stage of admission has been complied with. The matter relates to invocation of SARFAESI Act in relation to a loan transaction. Proceedings have reached sale. There is no jurisdictional error or legal infirmity in such proceedings. Having regard to the fact that the petitioner has complied with the conditions imposed as per the interim order and in view of the facts and circumstances of the case, the petitioner is directed to remit a further amount of Rs.2.5 lakhs on or before 31.03.08 and pays of the remaining portion on or before 1st week of July 2008, the impugned proceedings will stand dropped. The Writ Petition is disposed of further directing that if there is default in remitting amounts as aforesaid, the benefit of this judgment shall stand recalled automatically and the respondents will be at liberty to forthwith proceed with distress action. THOTTATHIL B.RADHAKRISHNAN, JUDGE ttb. ======================= THOTTATHIL B. RADHAKRISHNAN, J O.P.NO. OF JUDGMENT 25th FEBRUARY, 2008. =======================