IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.K.ABDUL REHIM MONDAY, THE 30TH AUGUST 2010 / 8TH BHADRA 1932 WP(C).No. 26086 of 2010(I) -------------------------- PETITIONER(S): --------------- PREMA BINU.K.L., S/O.KESAVAN, VELUTHANDUTHUNDUVILA VEEDU, ARUMANOOR, POOVAR P.O. BY ADV. SRI.R.GOPAN RESPONDENT(S): --------------- 1. THE AUTHORIZED OFFICER, THIRUVANANTHAPURAM DIST.CO-OPERATIVE BANK, HEAD OFFICE, EAST FOT, THIRUVANANTHAPURAM. 2. THE MANAGER, THIRUVANANTHAPURAM DIST.CO-OPERATIVE BANK, KANJIRAMKULAM BRANCH, THIRUVANANTHAPURAM. STANDING COUNSEL SRI.K.G.RADHAKRISHNAN THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 30/08/2010,THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: C.K. ABDUL REHIM, J ------------------------------------ WP(C) NO. 26086 OF 2010 -------------------------------------------- Dated this the 30th day of August, 2010 JUDGMENT Challenge in this Writ Petition is against proceedings initiated under the SARFAESI Act, for realisation of amounts due from the petitioner to the second respondent Bank in a loan transaction. The secured assets of the petitioner stands posted for sale on 31.08.2010. According to the petitioner, the amounts already repaid has not been given proper credit. However, it is noticed that the petitioner has not raised any objection against the proceedings at the stage of notice under Section 13 (2). He has also not availed remedy of appeal available under the statute. Under such circumstances interference in this jurisdiction is not at all desirable. 2. Learned counsel appearing for the petitioner appealed for indulgence of this Court in permitting payment of the entire arrears in instalments. Having considered totality of the circumstances attendant in this case, I am inclined to grant some relief in this regard. 3. The Writ Petition is disposed of directing the respondents to keep in abeyance the sale notified under Ext.P2, on condition of the petitioner remitting the entire balance in 'five' equal monthly instalments, falling due on or before 15.09.2010 and before the 15th day of the succeeding months. 2 WP(C) No. 26086/2010 4. It is made clear that on the event of default in payment of any of the insalments, the respondents will be free to proceed with further steps. It is also made clear that, the petitioner is precluded from raising any challenge against such proceedings in future before this Court or before any other Forum. C.K. ABDUL REHIM JUDGE dnc