IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN THURSDAY, THE 12TH FEBRUARY 2009 / 23RD MAGHA 1930 WP(C).No. 4515 of 2009(K) ------------------------- CMP.272/2009 of C.J.M.,MANJERI .................... PETITIONER(S): --------------- KRISHNARAJ V.K. , S/O.APPUKUTTA PANICKER CHANGAPALLY KALIRIKKAL HOUSE, PO NADUVATTAM, KUTTIPPURAM, MALAPPURAM DISTRICT. BY ADV. SRI.P.CHANDRASEKHAR RESPONDENT(S): --------------- 1. THE STATE BANK OF TRAVANCORE KUTTIPPURAM BRANCH, KUTTIPPURAM, MALAPPURAM DISTRICT REPRESENTED BY ITS CHIEF MANAGER. 2. THE CHIEF JUDICIAL MAGISTRATE, MANJERI. ADV. SRI.K.S.DILIP, SC, SBT FOR R1 THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 12/02/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: THOTTATHIL B RADHAKRISHNAN, J ........................................... WP(C).NO. 4515 OF 2009 ............................................ DATED THIS THE 12TH DAY OF FEBRUARY, 2009 JUDGMENT Learned counsel for the petitioner states that his client does not intend to challenge the proceedings before the Debt Recovery Tribunal under Section 17 of the SARFAESI Act. This is recorded. The petitioner has not brought on record the co-obligant, who is stated to be his mother. Be that as it may, it appears that the bank will be able to regularise the transaction, if a total amount of Rs.2,00,000/- is paid. Recording this, it is ordered that if an amount of Rs.75,000/- is paid on or before 28.2.2009 and Rs.1,25,000/- before 30.3.2009, the impugned distress action will be deferred and bank will consider regularising the transaction and drop the impugned proceedings. It is also clarified that the aforesaid amounts will be given appropriate credit to. If there is default in remitting any of the instalments as aforesaid, the benefit of this judgment will stand recalled automatically and respondents will be at liberty to proceed with further action. THOTTATHIL B RADHAKRISHNAN, JUDGE lgk/16/2