IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE ANTONY DOMINIC FRIDAY, THE 29TH FEBRUARY 2008 / 10TH PHALGUNA 1929 WP(C).No. 855 of 2008(B) ------------------------ PETITIONER: ------------ A.SURESH BABU, ATHANKAVIL HOUSE, KOLENGATTUKARA P.O., CHULLISSERY, THRISSUR DISTRICT. BY ADV. SRI.P.SANTHOSH KUMAR (PANAMPALLI NAGAR) SRI.LUIZ GODWIN D'COUTH RESPONDENTS: ------------- 1. THE AUTHORISED OFFICER, PUNJAB NATIONAL BANK, 40/1462, MARKET ROAD, ERNAKULAM. 2. THE BRANCH MANAGER, PUNJAB NATIONAL BANK, KANCHIKKODE P.O., PALAKKAD. BY ADV. SRI.K.P.SUDHEER SRI.V.C.MADHAVANKUTTY THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 29/02/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: WP(C).No. 855/2008/B APPENDIX PETITIONER'S EXHIBITS: EXT. P1: COPY OF THE NOTICE ISSUED BY THE BANK TO THE PETITIONER FOR SETTLEMENT OF THE DUES DT. 1-11-2006. EXT. P2: COPY OF THE LETTER ISSUED BY THE PETITIONER TO THE BANK AUTHORITIES FOR GRANT TIME UP TO 30-4-2008 TO SETTLE THE DUES, DT.30-11-2007. EXT. P3: COPY OF THE DEMAND NOTICE DT.18-1-08. EXT. P4: COPY OF THE DEMAND NOTICE DT.18.1.08. RESPONDENT'S EXHIBITS: EXT. R2(A): COPY OF LETTER NO.RME/SAMS/2/07 DATED 31.12.2007 ISSUED BY THE RESPONDENT BANK. /TRUE COPY/ P.A. TO JUDGE JP ANTONY DOMINIC, J. ======================= W.P.(C) No. 855 of 2008 (B) ======================= Dated this the 29th day of February, 2008 JUDGMENT This writ petition is filed challenging the proceedings initiated against the petitioner under Securitisation and Reconstruction of Financial Assets and Security Interests Act. In this case, admittedly the petitioner is a defaulter. According to the standing counsel for the Bank, the dues as on 31.12.2007 is Rs.4,54,449/-. In view of this, the bank cannot be faulted for the steps taken including as per Ext.P3 and Ext.P4. 2. Now the petitioner is making only a limited request for time to discharge the debt, which, I feel, should be granted. Therefore the writ petition is disposed of directing that the proceedings pursuant to Exts.P1, P3 and P4 will be deferred till 30.4.2008 subject to the condition that, within two weeks from today, the petitioner shall pay 1/4th of the amount and balance W.P.(C) No. 855/2008/B -2- before 30.4.2008. It is clarified that if the petitioner commits any default, the bank will be free to continue the action that it has already initiated. The writ petition is disposed of as above. ANTONY DOMINIC, JUDGE jp