IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE ANTONY DOMINIC THURSDAY, THE 17TH JANUARY 2008 / 27TH POUSHA 1929 WP(C).No. 1775 of 2008(J) ------------------------- PETITIONER: ------------ K.S. SOMAN, S/O. NARAYANAN, KOODATHINAL HOUSE, VENGASSERY P.O., OTTAPPALAM. BY ADV. SRI.P.A.AUGUSTINE(AREEKATTEL) RESPONDENTS: ------------- 1. THE SUB DIVISIONAL MAGISTRATE, OTTAPALAM 2. THE AUTHORISED OFFICER, STATE BANK OF INDIA, OTTAPALAM. 3. STATE BANK OF INDIA, OTTAPALAM BRANCH, REP. BY ITS PRINCIPAL OFFICER. 4. THE VILLAGE OFFICER, AMBALAMPPARA VILLAGE-1, AMBALAMPPARA P.O., OTTAPALAM. BY SC SRI.P.V.SURENDRANATH THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 17/01/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: ANTONY DOMINIC, J. ========================= W.P.(C)NO.1775 OF 2008 ========================= Dated this the 17th day of January 2008 JUDGMENT Petitioner submits that proceedings have been initiated against him under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act 2002 for realising the amount in default to the Bank. The petitioner confines his relief to grant instalment facility to discharge his dues. Learned counsel for the Bank, on instructions, submits that as in December 2007, more than Rs.5,92,000/- was due from the petitioner. It is also stated that after availing of the loan from the Bank, the petitioner has not made any payment. It is also stated that the Bank has obtained Ext.P1 order under Section 14 of the Act for taking over possession of the mortgaged property. From the facts as stated above, it can be seen that the Bank is perfectly justified in taking action against the mortgaged properties. 2. I have heard the learned counsel for the Bank also in W.P.(C)1775/2008 2 this matter. According to the counsel, the petitioner does not deserve any sympathy in view of the on repeated defaults made by him. 3. Irrespective of this, since the property is the residential property of the petitioner, I dispose of this writ petition directing that the amount due to the Bank will be paid by the petitioner in six equal monthly instalments commencing from the first of February 2008 and subsequent instalments payable on the first of every succeeding months. Subject to payment as above, further proceedings pursuant to Ext.P1 will stand deferred and in case default is committed by the petitioner, it will be open to the Bank to continue the proceedings. ANTONY DOMINIC, JUDGE css/