IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.R.RAMACHANDRA MENON THURSDAY, THE 11TH MARCH 2010 / 20TH PHALGUNA 1931 WP(C).No. 2447 of 2010(E) -------------------------------------- PETITIONER(S): ------------------------- MUHAMMED ASHFAQ,S/O.SHEIK ISMAIL SAHEB, BAPPAITHOTTY, P.O.UPPALA, KASARAGOD. BY ADV. SMT.R.PADMAKUMARI RESPONDENT(S): ---------------------------- 1. THE MANAGER, UNION BANK OF INDIA, KASARAGOD BRANCH, PADHOOR SHOPPING COMPLEX, NEW BUS STAND, KASARAGOD DISTRICT. 2. THE AUTHORISED OFFICER, UNION BANK OF INDIA, CHIEF MANAGER, KANNUR. 3. ZAINABA, AGED 42 YEARS, W/O.MOIDEENKUNHI, ALEEMA MANSION, BAPPAITHOTTI, P.O. UPPALA, KASARAGOD. R1 & R2 BY ADV. MR. A.S.P. KURUP, SC, UNION BANK OF INDIA THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 11/03/2010,THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: Kss P.R.RAMACHANDRA MENON, J --------------------------- W.P(C) No. 2447 of 2010-E ---------------------------- Dated this the 11th day of March, 2010. J U D G M E N T The petitioner has approached this Court challenging the proceedings initiated by the respondent Bank under the SARFAESI Act. Many a ground has been raised in this Writ Petition, both legal as well as factual. However, during the course of hearing, the learned counsel for the petitioner submits that the petitioner does not press any of the contentions as aforesaid and also would not like to avail the alternate remedy under the statute by approaching the Debt Recovery Tribunal and on the other hand, the petitioner intends to wipe off the liability by way of reasonable instalments. 2. The learned counsel appearing for the respondent Bank submits that the Bank has got very serious contentions as against the averments raised in the Writ Petition and that the outstanding liability is about Rs.4.7 lakhs. However, since the petitioner has come forward stating that the petitioner is ready and wiling to clear the entire outstanding liability by way of reasonable instalment; this Court does not propose to go into the merits of the case, for the W.P(C) No. 2447 of 2010-E 2 time being. 3. After hearing both the sides, this Court permits the petitioner to clear the entire outstanding liability in 'five' equal monthly instalments; the first of which shall be effected on or before the 30th of March 2010; to be followed by similar instalments to be effected on or before the 30th of the succeeding months. Subject to this, all further coercive steps being pursued against the petitioner shall be kept in abeyance. It is made clear that, if any default is committed in satisfying the due amount as above, it will open to the Bank, to proceed with appropriate steps in accordance with law for realisation of the entire amount in a lump sum. The Writ Petition is disposed of. Sd/- P.R.RAMACHANDRA MENON JUDGE //True Copy// P.A to Judge ab W.P(C) No. 2447 of 2010-E 3