IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE ANTONY DOMINIC TUESDAY, THE 26TH FEBRUARY 2008 / 7TH PHALGUNA 1929 WP(C).No. 4812 of 2008(W) ------------------------- PETITIONER: --------------- SOJA PRINCE, W/O. PRINCE GEORGE, LALITHA BHAWAN, MO WARD, ALAPPUZHA, NOW RESIDING AT KACHAPILLY HOUSE, KOMALLOOR P.O., CHALUMOODU, ALAPPUZHA DISTRICT-690 505. BY ADV. SRI.C.S.MANU SRI.S.K.PREMRAJ SRI.ANOOP JOSEPH SRI.ANOOP.V.NAIR SRI.ABHILASH AKBAR SRI.T.B.SIVAPRASAD RESPONDENTS: ----------------- 1. STATE BANK OF INDIA, SOUTH KUTIATHODE BRANCH, REPRESENTED BY CHIEF MANAGER. 2. ASSISTANT GENERAL MANAGER, STATE BANK OF INDIA, REGIONAL BUSINESS OFFICE, BEACH ROAD, ALLEPPEY. 3. THE AUTHORIZED OFFICER(CHIEF MANAGER), STATE BANK OF INDIA, REGIONAL BUSINESS OFFICE, BEACH ROAD, ALLEPPEY. 4. DISTRICT MAGISTRATE, ALLEPPEY. 5. THE TAHSILDAR, CHERTHALA TALUK, ALLEPPEY. 6. VILLAGE OFFICER, EZHUPUNNA VILLAGE, ALLEPPEY. 7. DEPUTY SUPERINTENDENT OF POLICE, CHERTHALA. BY SRI.K.K.CHANDRAN PILLAI FOR R1 TO R3 GOVT.PLEADER SRI.I.V.PRAMOD THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 26/02/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: ANTONY DOMINIC, J. =============== W.P.(C) NO. 4812 OF 2008 W ==================== Dated this the 26th day of February, 2008 J U D G M E N T The petitioner is challenging the proceedings initiated against her under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, which has resulted in an order under Section 14 of the said Act. In this writ petition the complaint is that she has made Ext.P1 application requesting for an instalment facility and at that stage Ext.P2 order under Section 14 has been passed. The counsel reiterated before me that the only prayer that is pressed is for an instalment facility. 2. Taking into account the submissions made by the learned counsel for the petitioner and also the submissions made by the counsel for the Bank, who points out that as on 13/2/2008, the liability of the petitioner was Rs.12,67,681/-, I dispose of this writ petition with the following directions. WPC 4812/08 :2 : 1) That within three weeks from today, petitioner shall deposit an amount of Rs. 3 lakhs with the respondent Bank and subject to payment as above, further proceedings pursuant to Ext.P2 will be deferred. 2) It is also directed that the balance amount that is due from the petitioner shall be paid in six equal monthly instalments. The first instalment will be payable in the first week of April, 2008 and the subsequent instalments in the first week of every succeeding month. 3) It is clarified that in case any default is committed by the petitioner, the Bank will be free to continue the action that it has already initiated. ANTONY DOMINIC,JUDGE. Rp