IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE V.GIRI TUESDAY, THE 11TH MARCH 2008 / 21ST PHALGUNA 1929 WP(C).No. 8076 of 2008(J) ------------------------- PETITIONER: ------------ C.P.SIVA PRASAD, EDAPPALAYAL HOUSE, PERUNNA, CHANGANACHERRY. BY ADV. SRI.M.P.MADHAVANKUTTY RESPONDENTS: ------------- 1. BALA MURALI KRISHNA, AMBADI HOUSE, PERUNNA, CHANGANACHERRY. 2. MANAGER, CANARA BANK, CHANGANACHERRY BRANCH. 3. DEPUTY TAHSILDAR, (REVENUE RECOVERY), CHANGANACHERRY. BY ADV. SRI.P.GOPINATH MENON, SC, CANARA BANK GOVT.PLEADER SHRI MATHEW GEORGE VADAKKEL FOR R3 THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 11/03/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: V.GIRI, J. ----------- W.P.(C)No. 8076 OF 2008 ----------------------------- DATED THIS THE 11TH DAY OF MARCH, 2008 J U D G M E N T Apparently, the petitioner and one Mr.Krishnakumar stood as sureties for the first respondent, who availed a business loan from the 2nd respondent to the tune of Rs.2 lakhs. The petitioner and the aforementioned Krishnakumar also availed a loan from the 2nd respondent, standing as sureties for each other. Admittedly, there was default in repayment. A demand notice has now been issued as per Exhibit P1. 2. I have heard the learned counsel for the Bank also. In my view the bank may call the principal debtor and the sureties and then fix up a schedule for repayment and if there are any assets with the principal debtor, the bank can proceed against the assets of the principal debtor in the first instance. But I make it clear that the proceedings against the sureties is not thereby restrained in any manner. In the result, the writ petition is disposed of in the following W.P.(C)No.8076/08 2 terms: 1) The 2nd respondent shall issue notice to the petitioner, the 1st respondent and the other sureties and after hearing them, draw up a proceedings indicating the schedule of repayment. 2) If there are assets with the principal debtor, the bank may also consider whether such assets are available for recovery of the amount due from the principal debtor. 3) An order in this regard may be passed within six weeks from today. 4) Enforcement of Exhibit P1 shall be subject to the proceedings to be drawn up as directed above. V.GIRI, JUDGE. dsn