IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE ANTONY DOMINIC WEDNESDAY, THE 2ND APRIL 2008 / 13TH CHAITHRA 1930 W.P.(C).No. 10944 of 2008(C) ---------------------------------- PETITIONER: -------------- K.P.GOPALAKRISHNAN NAIR, S/O.LATE RAMAKRISHNA PILLAI, KAROOR HOUSE, PERINGARA VILLAGE, KARAKKAL POST, THIRUVALLA TALUK. BY ADV. SRI.P. KURUVILLA JACOB RESPONDENTS: ----------------- 1. THE STATE BANK OF TRAVANCORE, REGION IV, ZONAL OFFICE, KOTTAYAM REPRESENTED BY ITS CHIEF MANAGER. 2. THE MANAGER, STATE BANK OF TRAVANCORE, MAEPRAL BRANCH THIRUVALLA TALUK. 3. A.JAYAKUMAR (ROLL NO.1380/2001), ADVOCATE, PATHANAMTHITTA. BY ADV. SRI. PATHROSE MATHAI, SC FOR SBT THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 02/04/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: ANTONY DOMINIC, J. =============== W.P.(C) NO. 10944 OF 2008 C ==================== Dated this the 2nd day of April, 2008 J U D G M E N T Petitioner is a defaulter to respondents 1 and 2 Bank and proceedings were initiated under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. Though several contentions have been raised, all that is pressed before me is for an instalment facility. 2. I heard the learned senior counsel who entered appearance on behalf of respondents 1 and 2 as well. 3. Having regard to the limited nature of relief that is sought for, I feel that yet another opportunity should be given to the petitioner to save the mortgaged properties from a distress sale. 4. Accordingly, this writ petition is disposed of with the following directions. (1) That before 30th of April, 2008, petitioner shall remit Rs.1.5 lakhs with the 2nd respondent and subject to such condition, further proceedings pursuant to Ext.P2 order under Section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of WPC 10944/08 :2 : Security Interest Act, 2002 will stand deferred. (2) It is also directed that the balance amount due will be paid by the petitioner in six equal monthly instalments and that the first instalment will be payable on or before 15th of May 2008 and the remaining 5 instalments payable before the 15th of every succeeding month. (3) It is directed that in case default is committed by the petitioner in paying any one of the instalments, it will be open to the Bank to continue the action, without any further notice to the petitioner. ANTONY DOMINIC,JUDGE. Rp