IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN THURSDAY, THE 6TH NOVEMBER 2008 / 15TH KARTHIKA 1930 WP(C).No. 32026 of 2008(K) -------------------------- PETITIONER: --------------- N.D.JOSHY, S/O.N.DAMODHARAN, AGED 42 YEARS, 7/135, NAYASSERY HOUSE, BLANGAD P.O., CHAVAKKAD, THRISSUR DISTRICT. BY ADV. SRI.JIJO PAUL RESPONDENTS: --------------- 1. THE AUTHORISED OFFICER UNDER THE SECURITIZATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY INTEREST ACT, 2002, UCO BANK, MARKET ROAD BRANCH, PALAKKAD. 2. THE UCO BANK LTD., MARKET ROAD, PALAKKAD BRANCH, REPRESENTED BY ITS BRANCH MANAGER. GEORGE K. VARGHESE, STANDING COUNSEL FOR UCO BANK THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 06/11/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: THOTTATHIL B. RADHAKRISHNAN, J. ================================ W.P.(C).No.32026 of 2008 - K =============================== Dated this the 6th day of November, 2008. J U D G M E N T Following the order dated 31.10.2008, petitioner deposited an amount of Rs.1,42,500/-. He therefore appears to be bona fide interested in repaying the entire amounts to avoid further distress action. Having heard the learned counsel for the petitioner, there is no error of jurisdiction or legal infirmity in the impugned proceedings. Therefore, the petitioner gives up all contentions through his counsel, including his right, if any, to move the DRT and prays that the petitioner may be granted an instalment facility or time to pay off the entire remaining outstandings. Recording this submission, it is ordered that if the petitioner deposit an amount of Rs.1,00,000/- within three weeks from now and a further amount of Rs.75,000/- per month payable on or before 10th of every month commencing from December 2008, the impugned sale shall stand deferred and ultimately dropped. If there is any default in remitting the entire amounts and accruals thereon following the aforesaid instalment W.P.(C).No.32026 of 2008 - K 2 facility, the benefit of this judgment will stand recalled automatically and respondents are directed to proceed with further action. On the petitioner remitting three of the above instalments, the bank will consider any request made by him to remit the entire instalments either by one time settlement or otherwise. THOTTATHIL B. RADHAKRISHNAN, JUDGE bkn/-