IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN WEDNESDAY, THE 25TH MARCH 2009 / 4TH CHAITHRA 1931 WP(C).No. 8658 of 2009(B) ------------------------- PETITIONER(S): --------------- GEETHA RAJENDRAN, W/O.RAJENDRAN, ARUN NIVAS, IV-641, NETTAYAM P.O. THIRUVANANTHAPURAM - 13. BY ADV. SRI.M.SREEKUMAR RESPONDENT(S): --------------- 1. KERALA STATE CO-OPERATIVE BANK LTD., REPRESENTED BY ITS MANAGING DIRECTOR, HEAD OFFICE, STATE CO-OPERATIVE BANK BUILDING, OVER BRIDGE JUNCTION, THIRUVANANTHAPURAM. 2. THE MANAGER, KERALA STATE CO-OPERATIVE BANK LTD., VAZHUTHACAUD BRANCH, CENTRE PLAZA BUILDING, VAZHUTHACAUD P.O., THIRUVANANTHAPURAM. 3. THE REGIONAL MANAGER, (AUTHORIZED OFFICER), KERALA STATE CO-OPERATIVE BANK LTD., THIRUVANANTHAPURAM REGIONAL OFFICE, STATE CO-OPERATIVE BANK BUILDING, OVERBRIDGE JUNCTION, THIRUVANANTHAPURAM. BY ADV. SRI.NAGARAJ NARAYANAN, S.C. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 25/03/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: THOTTATHIL B.RADHAKRISHNAN, J. ------------------------------------------- W.P(C).No.8658 OF 2009 ------------------------------------------- Dated this the 25th day of March, 2009 JUDGMENT When this matter is taken up today, the petitioner who faces distress action under the SARFAESI Act states that he does not challenge that proceedings and confines the requests to be one for seven instalments since she does not have the means to pay the defaulted outstandings in one go. Taking the said submission, on its face value, into consideration, this writ petition is ordered directing that if the petitioner deposits amounts at the rate equivalent to 1/7th of the total outstandings on or before the last working day of every moth commencing from April, 2009, further distress action will stand deferred. However, if there is default in remitting any of the instalments as aforesaid, the benefit of this judgment will stand recalled automatically and distress action will follow. Sd/- THOTTATHIL B.RADHAKRISHNAN, Judge. kkb.25/3.