IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN TUESDAY, THE 30TH DECEMBER 2008 / 9TH POUSHA 1930 WP(C).No. 38232 of 2008(B) -------------------------- PETITIONER(S): --------------- YESUDASAN, KATTUVILA PUTHEN VEEDU, THOONGAMPPARA, KULATHUMMEL VILLAGE, NEYYATTINKARA TALUK, THIRUVANANTHAPURAM DISTRICT. BY ADV. SRI.SAIJO HASSAN SRI.SABU SREEDHARAN RESPONDENT(S): --------------- 1. THIRUVANANTHAPURAM DISTRICT CO-OPERATIVE BANK, HEAD OFFICE, FORT, THIRUVANANTHAPRUAM, REPRESENTED BY ITS GENERAL MANAGER. 2. THE AUTHORISED OFFICER, THIRUVNANTHAPURAM DISTRICT CO-OPERATIVE BANK, HEAD OFFICE FORT, THIRUVANANTHAPURAM. 3. THE BRANCH MANAGER, THIRUVANANTHAPURAM DISTRICT CO-OPERATIVE BANK, KATTAKKADA BRANCH KATTAKKADA, THIRUVANANTHAPURAM. BY ADV.SRI.K.G.RADHAKRISHNAN, S.C. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 30/12/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: THOTTATHIL B.RADHAKRISHNAN, J. ------------------------------------------- W.P(C).No.38232 OF 2008 ------------------------------------------- Dated this the 30th day of December, 2008 JUDGMENT The petitioner availed a loan from the first respondent bank and defaulted repayment. He was issued with notice under Section 13 (2) of the SARFAESI Act in November, 2007. On default, proceedings were initiated under Section 13(4). The petitioner challenges it. The total outstandings by now would be around Rs.2 lakhs. Taking that into consideration, I am inclined to accept the request of the petitioner that he may be permitted to pay off the outstandings in instalments, particularly when he does not prays any other contention. Recording that submission, it is directed that if the petitioner pays an amount of Rs.35,000/- within three weeks and continues to deposit amounts at the rate of Rs.15,000/- per month, payable on or before the last working day of every month commencing from February WPC.38232/08 2 2009, the impugned proceedings will stand suspended and ultimately dropped. However, if there is default in remitting any of the amounts as aforesaid, the benefit of this judgment will stand recalled automatically and distress action will follow. The writ petition is ordered accordingly. Sd/- THOTTATHIL B.RADHAKRISHNAN, Judge. kkb.