IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.R.RAMACHANDRA MENON TUESDAY, THE 3RD AUGUST 2010 / 12TH SRAVANA 1932 WP(C).No. 21856 of 2010(F) -------------------------- PETITIONER: --------------- M.P.ABDULLAKUTTY S/O.AHAMED, MANIPARAMBATH HOUSE VENNIYOOR PO, VALAKKULAM, TIRURANGADI AMSOM VENNIYOOR DESOM, TIRURANGADI THALUK,MALAPPURAM BY ADV. MR. MANJERI SUNDERRAJ MS. K.K.PREETHA RESPONDENTS: --------------- 1. THE KOTTAKKAL CO-OPERATIVE URBAN BANK LTD. NO.1378, KOTTAPADI, KOTTAKKAL REP BY M.ABDU RAHIMAN, GENERAL MANAGER IN CHARGE AUTHORISED OFFICER 2. STATE OF KERAL, REP BY SECRETARY TO GOVERNMENT, REVENUE MINISTRY, TRIVANDRUM REP BY GOVERNMENT PLEADER, HIGH COURT OF KERALA ERNAKULAM 3. THE VILLAGE OFFICER TIRURANGADI VILLAGE OFFICE, TIRURANGADI,MALAPPURAM 4. TAHILDAR TIRURANGADI TALUK, TIRURANGADI,MALAPPURAM R1 BY ADV. MR. DEVAPRASANTH.P.J. R2 TO R4 BY GOVERNMENT PLEADER MR. C. K. GOVINDAN THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 03/08/2010, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: P.R. RAMACHANDRA MENON J. ~~~~~~~~~~~~~~~~~~~~~~~ W.P. (C) No. 21856 of 2010 ~~~~~~~~~~~~~~~~~~~~~~~ Dated, this the 3rd day of August, 2010 JUDGMENT The petitioner is challenging the steps taken by the respondent Bank under the relevant provisions of the SARFAESI Act, for realization of the amount due under a loan transaction. Case of the petitioner is that, in spite of the earnest efforts taken by the petitioner to clear the due amount and bringing the same to the notice of the respondent Bank, it has been given a 'go-bye' and the Bank has proceeded with further steps, including by filing a petition under Section 14 of the Act before the concerned Chief Judicial Magistrate, to provide assistance to take physical possession of the property, to have it sold in public auction. 2. When the matter came up for consideration on 13.7.2010, the coercive steps were intercepted, on condition that, the petitioner deposited a sum of Rs. Five lakhs within one week. The petitioner has filed I.A. 10816 of 2010, seeking for enlargement of time, for satisfying the balance amount in compliance with the interim order passed, by a further period of 'one week'. The learned counsel for the petitioner submits that, the condition has already been satisfied and the demand draft for the requisite amount has already been entrusted to the learned counsel for the Bank. W.P. (C) No. 21856 of 2010 : 2 : 3. The learned counsel for the respondent Bank submits with reference to the request of the petitioner to extend all possible concessions/allowances and to permit to clear the liability in a phased manner, that, if the petitioner files a proper representation in this regard, the same will be considered and appropriate orders will be passed in accordance with law. 4. Considering the facts and circumstances, the petitioner is permitted to file an exhaustive representation before the first respondent within two weeks, on which event, the first respondent shall consider the same and pass appropriate orders, extending such concession/allowances to the petitioner to the permissible extent. The liability to be satisfied by the petitioner will depend upon the outcome of the orders to be passed by the respondent Bank as above. Subject to this, the coercive proceedings stated as being pursued against the petitioner shall be kept in abeyance for the time being. It is made clear that, if any default is committed by the petitioner in satisfying the liability as to be let known by the Bank, the respondents will be at liberty to proceed with further steps for realization of the entire amount in lump sum. The Writ Petition is disposed of as above. P. R. RAMACHANDRA MENON, JUDGE kmd