IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN WEDNESDAY, THE 4TH FEBRUARY 2009 / 15TH MAGHA 1930 WP(C).No. 3631 of 2009(G) ---------------------------------------- PETITIONER(S): ------------------------ 1. JONA THOMAS, V.P.NIVAS, SANTHIPURAM, CHANNANKARA P.O. KADINAMKULAM, TRIVANDRUM 2. V.D.JOHA, V.P.NIVAS, SANTHIPURAM CHANNANKARA P.O. KADINAMKULAM, TRIVANDRUM, BY ADV. SRI.S.MOHAMMED AL RAFI RESPONDENT(S): --------------------------- 1. THIRUVANANTHAPURAM DISTRICT CO-OPERATIVE BANK,REPRESENTED BY GENERAL MANAGER, EAST FORT, THIRUVANANTHAPURAM. 2. AUTHORISED OFFICE, THIRUVANANTHAPRUAM DISTRICT CO-OPERATIVE BANK,EAST FORT, THIRUVANANTHAPURAM. 3. BRANCH MANAGER,THIRUVANANTHAPURAM DISTRICT CO-OPERATIVE BANK, KADINAMKULAM, TRIVANDRUM. BY ADV. MR.K.G.RADHAKRISHNAN, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 04/02/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: THOTTATHIL B RADHAKRISHNAN, J ........................................... WP(C).NO. 3631 OF 2009 ............................................ DATED THIS THE 4TH DAY OF FEBRUARY, 2009 JUDGMENT Petitioners face proceedings under the SARFAESI Act. No point in challenge of the proceedings is pressed before me for consideration. All contentions are given up. Petitioners also give up their right to move the Debt Recovery Tribunal under the SARFAESI Act. They confine their request to the effect that they may be given an opportunity to repay the amount in six instalments. 2. Ext.P1 proceedings were initiated on 2.8.2008. Obviously therefore the petitioners have to pay off the amounts at least in four instalments. Taking that view, it is ordered that if the petitioners remit the entire outstandings in five instalments, payable on or before the last working day of every month, commencing from February 2009, the impugned action will be dropped. If there is default in remitting any of the instalments as aforesaid, the benefit of this judgment will stand recalled automatically and respondents will be at liberty to proceed with further action. THOTTATHIL B RADHAKRISHNAN, JUDGE lgk