IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.R.RAMACHANDRA MENON TUESDAY, THE 18TH AUGUST 2009 / 27TH SRAVANA 1931 WP(C).No. 14429 of 2009(W) -------------------------- CRMP.2750/2009 of C.J.M.,KOLLAM .................... PETITIONER: --------------- SHAJI BHASKARAN, PRATHEEKSHA, PUNNALA P.O., KOLLAM DISTRICT. BY ADV. MR. R.ARUN RAJ RESPONDENTS: --------------- 1. THE AUTHORIZED OFFICER, CHIEF MANAGER (ADVANCES), STATE BANK OF TRAVANCORE, REGION-V, ZONAL OFFICE, THIRUVANANTHAPURAM. 2. THE BRANCH MANAGER, STATE BANK OF TRAVANCORE, P.B.NO.1, KALLARAYIL ABRAHAM MEMORIAL PLAZA, PUNNALA BRANCH, KOLLAM. ADV. MR. K.S.DILIP, STANDING COUNSEL THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 18/08/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: WP (C) 14429 OF 2009 APPENDIX PETITIONER'S EXHIBITS: EXT.P1 : A TRUE COPY OF THE NOTICE ISSUED BY THE 1ST RESPONDENT TO THE PETITIONER DATED 15.10.2007 EXT.P2 : A TRUE COPY OF THE NOTICE ISSUE BY THE ADVOCATE COMMISSIONERB.J. SHIBU TO THE PETITIONER DT. 27.04.2009 /TRUE COPY/ P.A TO JUDGE P.R. RAMACHANDRA MENON J. ~~~~~~~~~~~~~~~~~~~~~~~ W.P. (C) No. 14429 of 2009 ~~~~~~~~~~~~~~~~~~~~~~~ Dated, this the 18th day of August, 2009 JUDGMENT The petitioner and his wife had availed a housing loan of Rs. 7 lakhs from the respondent Bank in October, 2003, but the repayment could not be effected on time because of some or other reasons, under which circumstance, there was no alternative for the Bank but to proceed with the coercive steps under the SARFAESI Act, leading to issuance of Ext.P2 notice by the Advocate Commissioner appointed by the Chief Judicial Magistrate's Court, Kollam in a petition filed by the Bank under Section 14 of the Act, so as to take the physical possession of the property and the building, which in turn is under challenge in the Writ Petition. 2. When the matter came up for consideration before this Court, the coercive steps were intercepted as per order dated 26.5.2009, whereby the petitioner was directed to satisfy a sum of Rs. 2 lakhs within two weeks. The learned counsel for the petitioner submits that, the petitioners, taking all earnest efforts, deposited a sum of Rs. 1.5 lakhs and have made alternate arrangements, to wipe off the entire liability towards the Bank, for which some breathing time is sought for. 3. The learned counsel for the respondent Bank, with reference to the statement filed before this Court submits that, the balance WP (C) No. 14429 of 2009 : 2 : amount due is about Rs. 7.5 lakhs and that the petitioner was only evading the payments offering some or other lame excuses. In any view of the matter, if the petitioner is having any bonafide intent to clear the entire liability within a short time, the Bank can very well consider the said request, by providing reasonable installments. 4. After considering the facts circumstances, the petitioner is directed to pay a sum of Rs. 1.5 lakhs or before the 15th of September, 2009 and the balance amount shall be cleared by way of 'five' equal monthly instalments; to be effected on or before the 15th of the succeeding months. Subject to the above, all further coercive proceedings stated as being pursued against the petitioner, shall be kept in abeyance. It is made clear that, if any default is committed by the petitioner in satisfying the payments as above, the respondent Bank will be at liberty to proceed with further steps for realization of the entire amount in a lump sum, from the stage where it stands now. The Writ Petition is disposed of accordingly. P. R. RAMACHANDRA MENON, JUDGE kmd