IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HON'BLE THE CHIEF JUSTICE MR.J.CHELAMESWAR & THE HONOURABLE MR. JUSTICE P.R.RAMACHANDRA MENON FRIDAY, THE 4TH MARCH 2011 / 13TH PHALGUNA 1932 WA.No. 1973 of 2010() --------------------- AGAINST THE JUDGEMENT/ORDER IN WPC.31077/2008 Dated 15/11/2010 .................... APPELLANT(S): PETITIONER: ---------------------------------------- P.J.MATHAI, AGED 57 YEARS, S/O.P.M.JOHN, PUNNAKUZHIYIL HOUSE, PUTHUSSERRY ROAD, P.O.TRIPUNITHURA, ERNAKULAM DISTRICT. BY ADV. SRI.SAJEEV KUMAR K.GOPAL SMT.AMBIKA RADHAKRISHNAN RESPONDENT(S): ------------------------ 1. AUTHORISED OFFICER & CHEIF MANAGER, BANK OF INDIA, ZONAL OFFICE, KERALA ZONE, KALOOR TOWERS, KALOOR, KADAVANTHARA ROAD, COCHIN-682 017. 2. THE BRANCH MANAGER, BANK OF INDIA, KALADY BRANCH, KALADY-683 574. BY SC FOR BANK- SRI.DEVANRAMACHANDRAN THIS WRIT APPEAL HAVING BEEN FINALLY HEARD ON 04/03/2011 ALONGWITH WP(C).NO.31077/08, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: J. CHELAMESWAR, C.J & P.R.RAMACHANDRA MENON, J. ---------------------------------------------- W.A.No. 1973 of 2010 & W.P(C).No. 31077 of 2008 ---------------------------------------------- Dated this the 4th day of March, 2011 JUDGMENT Ramachandra Menon, J. This Writ Appeal is filed against the interim order passed by the learned Single Judge of this Court in I.A.No.15761 of 2010 in W.P(C). No. 31077 of 2005 while intercepting the coercive proceedings taken by the Bank under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, whereby the appellant was directed to pay a sum of Rs.5 lakhs on or before 20.11.2010. 2. When the appeal came up for admission on 18.11.2010, the appellant was directed to pay a sum of Rs.2 lakhs on or before 20.11.2010 and another sum of Rs.3 lakhs within the time specified therein. Learned counsel for the appellant submits that the said direction has been complied with, which is confirmed by the learned counsel appearing for the Bank as well. Learned counsel for the appellant further submits that the appellant is ready and willing to clear off the entire outstanding arrears on or before 31st March, 2011. 3. Considering the facts and circumstances of the case, we record the submission made by the learned counsel for the appellant WA.1973/10 & WP(C).No.31077/08 2 and accordingly, this Writ Appeal is disposed of granting time for the appellant to discharge the entire outstanding liability on or before 31st March, 2011. Subject to the above condition, recovery proceedings, if any, shall be kept in abeyance. It is made clear that if any default is committed by the appellant in honouring the above commitment, the bank is free to take further steps for realisation of the amount due, from the stage where it stands now. In view of the decision in the Writ Appeal, we find that nothing survives in W.P(C).No. 31077 of 2008. Accordingly, we call for the Writ Petition and close the same. J.CHELAMESWAR, CHIEF JUSTICE P.R.RAMACHANDRA MENON JUDGE vgs