IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN MONDAY, THE 29TH SEPTEMBER 2008 / 7TH ASWINA 1930 WP(C).No. 24696 of 2008(M) -------------------------- PETITIONERS: --------------- K.D. GEORGE, S/O. DEVASSY, AGED 54, KATTUPARAMBIL HOUSE, NEAR GOVT. HOSPITAL, CHALAKKUDY-680 307. BY ADV. SRI.C.A.CHACKO SMT.C.M.CHARISMA SRI.N.A.SHAFEEK RESPONDENTS: --------------- 1. KERALA STATE CO-OPERATIVE BANK LTD., ERNAKULAM ZONAL OFFICE, REP. BY ITS AUTHORISED SIGNATORY, DORAISWAMY ROAD, ERNAKULAM. 2. KERALA STATE CO-OPERATIVE BANK LTD., THRISSUR BRANCH, REP. BY ITS BRANCH MANAGER, NEAR ST. THOMAS COLLEGE, THRISSUR. ADV. SRI.NAGARAJ NARAYANAN,SC,K.S.CO-OP BANK FOR R1 & 2 THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 29/09/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: THOTTATHIL B.RADHAKRISHNAN, J. ================================ W.P.(C). No.24696 of 2008 - M =========================== Dated this the 29th day of September, 2008. J U D G M E N T The petitioner availed a loan and defaulted in repayment. That led to the impugned distress action under the SARFAESI Act. Taking his contentions on their face value, an interim order was issued on 14.8.2008 that the distress action will be suspended for a period of two weeks if an amount of Rs.1,75,000/- was deposited within one week therefrom. That order was issued taking into consideration the plea that the respondents did not receive an amount of Rs.75,000/- offered by the petitioner and that the property would fetch more than Rs.50,00,000/- (Rupees Fifty Lakhs only). That interim order was not complied with. I.A.No.10983 of 2008 was filed seeking enlargement of time to make payment of the amount covered by the aforesaid interim order. That I.A was allowed as prayed for, as per order dated 27.8.2008. Even then, only an amount of Rs.25,000/- was paid thereafter. This means that the petitioner has clearly demonstrated that he will not be able to pay even the amount W.P.(C). No.24696 of 2008 - M 2 covered by the defaulted instalments and penalty and other incidentals accruing on such defaulted instalments. The transaction is not disputed, the accrued outstandings cannot be denied. Since there is no jurisdictional error or legal infirmity in the impugned proceedings, I do not find any ground to interfere with the impugned proceedings. Resultantly, the writ petitioner cannot be granted any relief in this writ petition. Hence, this writ petition is dismissed, however, directing that amounts paid by the petitioner will be given due credit to, while settling the transaction finally. THOTTATHIL B.RADHAKRISHNAN, JUDGE. bkn/-