IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE ANTONY DOMINIC TUESDAY, THE 19TH FEBRUARY 2008 / 30TH MAGHA 1929 WP(C).No. 5854 of 2008(V) ------------------------- PETITIONER: ------------- R.RADHAKRISHNA PILLAI S/O.RAMAN PILLAI, THUNDIL PUTHEN VEEDU THEKKUMCHERRY,PUTHOOR VILLAGE,KOTTARAKKARA TALUK REPRESENTED BY HIS BROTHER AND POWER OF ATTORNEY HOLDER R.BAHULEYAN PILLLAI,THUNDIL PUTHEN VEEDU THEKKUMCHERRY MURI,PUTHOOR VILLAGE,KOTTARAKKARA TALUK, KOLLAM DISTRICT. BY ADV. SRI.R.SURAJ KUMAR SMT.GEETHA P.MENON RESPONDENTS: ------------- 1. THE STATE BANK OF TRAVANCORE REPRESENTED BY THE CHAIRMAN STATE BANK OF TRAVANCORE, HEAD OFFICE NEW ADMINISTRATIVE COMPLEX, PUJAPPURA P.O. THIRUVANANTHAPURAM. 2. THE REGIONAL MANAGER STATE BANK OF TRAVANCORE, REGIONAL OFFICE KERALA STATE HOUSING BOARD BUILDING SANTHI NAGAR, S.S.KOVIL ROAD, THIRUVANANTHAPURAM. 3. CHIEF MANAGER (ADVANCES) THE AUTHORISED OFFICER UNDER THE SECURITISATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY INTEREST ACT 2002 STATE BANK OF TRAVANCORE, REGION-V ZONAL OFFICE THIRUVANANTHAPURAM 695 001. 4. THE MANAGER STATE BANK OF TRAVANCORE, PUTHOOR BRANCH KOLLAM DISTRICT BY ADV.SHRI R.S.KALKURA – SC FOR THE BANK. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 19/02/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: ANTONY DOMINIC, J. -------------------------- W.P.(C)No.5854 OF 2008 ----------------------------- DATED THIS THE 19TH DAY OF FEBRUARY, 2008 J U D G M E N T Although in this writ petition filed challenging the proceedings initiated against the petitioner under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 , substantial contentions have been raised by the petitioner what is now urged before me is for an instalment facility to discharge the liability. 2. I have heard the counsel for the respondent-bank also. Accordingly I dispose of this writ petition directing that the amount due to the bank will be paid by the petitioner in six equal monthly instaments, the first of which is payable in the first week of March, 2008 and the subsequent instalments be payable in the first week of every succeeding month. Subject to payment as above, proceedings initiated against the petitioner shall be deferred and in case default is committed, the bank will be free to continue the action that it has already initiated without further notice to the petitioner. However, I clarify that this will not stand W.P.(C)No. 5854/08 2 in the way of the bank considering the request made by the petitioner for one time settlement which he has sought as per Exhibit P6 representation. ANTONY DOMINIC, JUDGE. dsn