IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN FRIDAY, THE 14TH NOVEMBER 2008 / 23RD KARTHIKA 1930 WP(C).No. 33437 of 2008(E) -------------------------- PETITIONER(S): --------------- KUNHIMOHAMMAD, S/O. UNNIMOIDEEN, MANNIL KADAVAN HOUSE, EDAKKARA.P.O, MALAPPURAM DISTRICT. BY ADV. SRI.DEVIDAS.U.K RESPONDENT(S): --------------- 1. STATE BANK OF INDIA, REGIONAL BUSINESS OFFICE, FIRST FLOOR, SOUTHERN TRADE TOWER, PUSHPA JUNCTION, FRANCIS ROAD, KOZHIKODE-673002 REPRESENTED BY ITS AUTHORISED OFFICER. 2. THE STATE BANK OF INDIA, MANIMOOLI BRANCH, MANIMOOLI.P.O, MALAPPURAM DISTRICT, REPRESENTED BY ITS MANAGER. BY ADV.SRI.K.JAYAKUMAR, S.C. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 14/11/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: THOTTATHIL B.RADHAKRISHNAN, J. ------------------------------------------- W.P(C).No.33437 OF 2008 ------------------------------------------- Dated this the 14th day of November, 2008 JUDGMENT The petitioner availed a loan for a commercial purpose, defaulted repayment and did not reply to notice under Section 13 (2) of the SARFAESI Act by raising any objection. His only request is for a facility to pay off the outstandings in instalments and avert further action following Exts.P2 and P3, issued under Section 13 (4) of the SARFAESI Act. Having not pointed out any jurisdictional error or legal infirmity in the impugned proceedings and being satisfied that there is no such error or infirmity, this writ petition is ordered directing that if the petitioner remits an amount of Rs.1.50 lakhs within three weeks and continues to remit the entire remaining portion, including accruals, in four equal monthly instalments, payable on or before the last working day of every month commencing from December, 2008, the impugned distress action will be deferred and ultimately dropped. However, if there is WPC.33437/08 Page numbers default in remitting any of the amounts as aforesaid, the benefit of this judgment shall stand recalled automatically and distress action shall follow. Sd/- THOTTATHIL B.RADHAKRISHNAN, Judge. kkb.