IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE ANTONY DOMINIC WEDNESDAY, THE 16TH JANUARY 2008 / 26TH POUSHA 1929 W.P.(C) No. 2006 of 2008(L) --------------------------------- PETITIONER: -------------- J. SHAJAHAN, S.S. NIVAS, AYILAM P.O., AVANAVANCHERY - 695 103. BY ADV. SRI.M.R. SASITH PANICKER SRI.M.R. SARIN PANICKER RESPONDENTS: ----------------- 1. MANAGER, CANARA BANK, MUDAKKAL. 2. AUTHORISED SALE OFFICER, DIVISIONAL MANAGER, CANARA BANK, CIRCLE OFFICE, TRIVANDRUM - 695 001. BY ADV. SRI. V.B. HARINARAYANAN, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 16/01/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: ANTONY DOMINIC, J. = = = = = = = = = = = = = = = = W.P.(C) No. 2006 OF 2008 L = = = = = = = = = = = = = = = = Dated this the 16th January, 2008 J U D G M E N T Securitisation proceedings initiated against the petitioner have reached at the stage of auction sale and Ext. P1 is the notice that is published which discloses that the sale is scheduled to be held on 23.1.2008. At this stage petitioner has filed this writ petition and is mainly pleading for time for making payment. 2. Learned counsel for the bank rightly objects to the submissions made and submits that if at all the petitioner has any bonafides he should prove that by making a substantial payment. I am in agreement with the counsel for the bank. 3. Since the petitioner is admittedly a defaulter to the bank the bank cannot be faulted for the steps which it has taken. If that be so, Ext. P1 cannot be assailed on any valid ground. Be that as it may, now that the petitioner only wants to discharge the liability by paying the same in instalments, I direct that the petitioner shall WPC No. 2006/08 -2- deposit 25% of the amount that is due, on or before 23.1.2008, on which date the sale is scheduled to be held. Thereupon if he makes such payment, further proceedings pursuant to Ext. P1 shall stand deferred and thereafter it will be open to he petitioner to apply to the bank for availing of the benefit of one time settlement scheme. If such an application is made the bank will certainly consider the same deferring further proceedings on Ext. P1. Needless to say that in the event of default in making the payment as above, the bank will be entirely free to proceed with the sale without further notice. Writ petition is disposed of as above. ANTONY DOMINIC JUDGE jan/-