IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.R.RAMACHANDRA MENON WEDNESDAY, THE 1ST JULY 2009 / 10TH ASHADHA 1931 WP(C).No. 18097 of 2009(F) ----------------------------------- PETITIONERS: -------------------- 1. KANAKARAJ.R., S/O. RANGASWAMY, AGED 54 YEARS, THALAKULAM, POOPPARA.P.O., IDUKKI DIST. 2. K.SIVAPRAKASH, S/O. KANAKARAJ R. AGED 28 YEARS, THALAKULAM, POOPPARA.P.O., IDUKKI DIST. BY ADV. SRI.K.T.SHYAM KUMAR RESPONDENTS: --------------------- 1. THE AUTHORISED OFFICER, UNION BANK OF INDIA, RAJAKUMARI BRANCH, IDUKKI DIST. 2. M.MANIKANDAN, MANIKANDA VILASAM, THEVAR HOTEL, POOPPARA.P.O., IDUKKI DIST. R1 BY ADV.SRI.A.S.P.KURUP, SC- UBI. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 01/07/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: P.R.RAMACHANDRA MENON, J. ----------------------------------------------- WP(C) NO. 18097 OF 2009 ----------------------------------- Dated this the 1st day of July, 2009 JUDGMENT The case of the petitioners is that the respondents are not justified in moving the machinery under the SARFAESI Act against the petitioner, in so far as the secured asset, now being proceeded against is stated as 'agricultural land' which is excluded under Section 31 (i) of the SARFAESI Act. The above submission is rebutted from the part of the respondent Bank, stating that the properties concerned are the 'dry land' and that the contention put forth categorising it, as 'agricultural land' is not at all correct or sustainable. 2. Learned Counsel for the petitioners submits that the liability, notwithstanding the contention now taken, is intended to be cleared by the petitioners, provided some breathing time is given in this regard. 3. Heard the learned Counsel appearing for the respondent Bank as well. 4. After considering the facts and circumstances, the outstanding liability, which approximately is of Rs.10,00,000/- as on date, is permitted to be cleared by way of 9 equal monthly instalments, so as to have it finalised in the current financial year itself. The first instalment shall be paid on or WPC NO.18097/2009 2 before the 30th of July, 2009, to be followed by subsequent instalments on or before the 30th of the succeeding months. Subject to the above, the recovery proceedings stated as being pursued against the petitioner shall be kept in abeyance. It is made clear that if any default is committed by the petitioner in effecting the instalments as above, the respondent Bank will be at liberty to proceed against the petitioner and the assets from the stage where it stands now, for realisation of the entire amount in lump sum. The Writ Petition is disposed of accordingly. P.R.RAMACHANDRA MENON JUDGE dnc