IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE ANTONY DOMINIC MONDAY, THE 11TH FEBRUARY 2008 / 22ND MAGHA 1929 WP(C).No. 4020 of 2008(C) ------------------------- PETITIONER: ------------ NABEESA, D/O.MARAKKAR, PARAKKAL HOUSE, P.O.PALLAM, DESHAMANGALAM VIA. THRISSUR KERALA. BY ADV. SRI.P.RADHAKRISHNAN (1) RESPONDENTS: ------------- 1. AUTHORIZED OFFICER, (SECURITISATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT SECURITY INTEREST ACT 2002) DHANALAKSHMI BANK LTD. THRISSUR. 2. DHANALAKSHMI BANK LTD., HEAD OFFICE, THRISSUR. BY ADV. SRI.C.K.KARUNAKARAN,SC,DHANALAKSHMI BAN THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 11/02/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: ANTONY DOMINIC, J. = = = = = = = = = = = = = = = = W.P.(C) No. 4020 OF 2008 C = = = = = = = = = = = = = = = = Dated this the 11th February, 2008 J U D G M E N T Petitioner against whom proceedings under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 has been initiated by the respondents, has filed this writ petition seeking to challenge the same. It is admitted that the petitioner is in default and that the present liability is Rs.5,26,044/-. It is also the admitted position that symbolic possession of the mortgaged properties has been taken by the bank. 2. Petitioner submits that in view of the financial constraints she is not in a position to liquidate the liability in one lump and that she will be in a position to raise Rs. 1 lakh and pay the same to the bank. Petitioner also seeks that she may be permitted to make a representation to the bank for an instalment facility after payment is made as above. W.P.(C) No. 4020 OF 2008 - 2 - 3. I heard the counsel for the respondents also in this matter. 4. Having regard to the submissions that are made by both sides, I dispose of this writ petition with the following directions: That within one month from today an amount of Rs.1 lakh shall be deposited with the 1st respondent. Subject to payment as above, it will be open to the petitioner to move the 1st respondent seeking instalments or reduction in liability in which case I direct the respondents to consider such request of the petitioner and pass appropriate orders thereon. Needless to say that in case the petitioner commits default in complying with the deposit as above or any facility which the bank may grant to her, it will be open to the respondent bank to continue the action which has also been initiated against her. ANTONY DOMINIC JUDGE jan/-