IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN FRIDAY, THE 26TH SEPTEMBER 2008 / 4TH ASWINA 1930 WP(C).No. 28656 of 2008(J) ------------------------------------ PETITIONER: ------------------- M.K.ALI, S/O.MOHAMMED HAJI, MANNILTHODY KURUKKANPURATH HOUSE, KIZHUPARAMBA PO., AREACODE, MALAPPURAM. BY ADV. SRI.AVM.SALAHUDIN RESPONDENT(S): ------------------------ 1. FEDERAL BANK LTD., REP. BY ITS MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER, ALUVA, ERNAKULAM. 2. AUTHORISED OFFICER, FEDERAL BANK LTD. REGIONAL OFFICE, THRISSUR 3. MANAGER, FEDERAL BANK LTD., AREACODE BRANCH , AREA CODE, MALAPPURAM. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 26/09/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: THOTTATHIL B. RADHAKRISHNAN, J. ------------------------------------------------------------------------ W.P.(C) NO.28656 OF 2008 (J) ------------------------------------------------------------------------ Dated this the 26th day of September, 2008 J U D G M E N T Having regard to the nature of the orders being issued hereunder, notice to respondents is dispensed with, preserving their right to move for review of this judgment, if aggrieved. 2. The petitioner challenged Exhibit P2 proceedings whereby notice was issued under Section 13(2) of the SARFAESI Act. The transaction is admitted. The default is not in dispute. The accruals have given the cause of action for the impugned action. With that in view, there is no jurisdictional error or legal infirmity in the impugned proceedings. 3. The learned counsel for the petitioner submitted that if Exhibit P3 is considered, the petitioner would be given certain concessions by the bank and that his client is ready to pay off the outstandings, if he is given 6 to 8 months' time. I am not impressed to hold that the bank has to delay the recovery proceedings so long. W.P.(C) No.28656/2008 - 2 - Having regard to the transaction, with the Government and the fact that as on 01-08-2008 the total outstandings was Rs.8,62,739/-, to be recovered with accruals and expenditure, this writ petition is ordered directing that if the petitioner remits amounts at the rate of Rs.2 lakhs per month, payable on or before the 20th day of every month commencing from October, 2008, the respondents will consider whether any relief could be granted on the basis of the petitioner's request in Exhibit P3 on petitioner remitting a total amount of Rs.6 lakhs following the schedule, as stated above. If there is default in remitting any of the instalments as afore-directed, the benefit of this judgment shall stand recalled automatically and the respondents will be at liberty to forthwith proceed with further recovery action. All other questions stand answered against the petitioner. Sd/- THOTTATHIL B. RADHAKRISHNAN, JUDGE skr/29/9 // True copy // P.A. to Judge.