IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE ANTONY DOMINIC FRIDAY, THE 7TH MARCH 2008 / 17TH PHALGUNA 1929 W.P.(C).No. 7225 of 2008(I) --------------------------------- PETITIONER: -------------- P. RADHAKRISHNAN, EASWARAVILASAM, KATTAKKADA ROAD, \ BALARAMAPURAM. BY ADV. SRI.NAGARAJ NARAYANAN RESPONDENTS: ----------------- 1. THE BRANCH MANAGER, TAMILNAD MERCANTILE BANK LIMITED, KOTTUGAL BRANCH, BALARAMAPURAM, TRIVANDRUM DISTRICT. 2. THE AUTHORISED OFFICER, TAMILNAD MERCANTILE BANK LIMITED, TIRUNELVELI REGION, TIRUNELVELI. BY ADV. SRI.V.V. SURENDRAN THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 07/03/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: ANTONY DOMINIC, J. = = = = = = = = = = = = = = = = W.P.(C) No. 7225 OF 2008 I = = = = = = = = = = = = = = = = Dated this the 7th March, 2008 J U D G M E N T In this writ petition proceedings have been initiated against the petitioner under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. When notice for sale of the mortgaged property was published by the bank this writ petition was filed and on 29.2.2008, an interim order was passed requiring the petitioner to remit Rs.2 lakhs as a condition for adjourning the sale. 2. It is now submitted by both sides that this order has been complied with. When the matter was taken up again for consideration, counsel for the petitioner reiterated his plea for permitting the petitioner to discharge the liability in instalments. 3. I heard counsel for the Bank also. Having regard to the submissions made, I dispose of this writ petition directing that the balance amount due shall be paid by the petitioner in 6 equal monthly instalments, the first of which will be W.P.(C) No. 7225 OF 2008 - 2 - payable in the first week of April, 2008 and the subsequent instalments will be payable in the first week of every succeeding month. However, it is clarified that in case any default is committed by the petitioner in paying any one of the instalments, the bank will be free to continue the action that it has already initiated. ANTONY DOMINIC JUDGE jan/-