IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN TUESDAY, THE 24TH MARCH 2009 / 3RD CHAITHRA 1931 WP(C).No. 9397 of 2009(T) ------------------------- PETITIONER(S): --------------- P.USHA, W/O.SRIPURUSHOTHAMAN,SHAIJU NIVAS,CHEKKIKULAM,(PO),CHEKKIKULAM,TIRUR, KANNUR DISTRICT. BY ADV. SRI.SAJEEV KUMAR K.GOPAL RESPONDENT(S): --------------- 1. THE KERALA STATE-CO-OPERATIVE BANK LTD, PB.NO.6515,COBANK TOWERS,PALAYAM, THIRUVANANTHAPURAM.REPRESENTED ITS MANAGING DIRECTOR. 2. THE MANAGING DIRECTOR, THE KERALA STATE CO-OPERATIVE BANK LTD,P.B.NO.6515,COBANK TOWERS, PALAYAM, THIRUVANANTHAPURAM. 3. THE REGIONAL MANAGER, THE KERALA STATE CO-OPERATIVE BANK LTD, KOZHIKODE. 4. THE BRANCH MANAGER,KERALA STATE CO-OPERATIVE BANK LTD, SOUTH BAZAR,TALAP,KANNUR. ADV. SRI.NAGARAJ NARAYANAN,SC,K.S.CO-OP BANK FOR R1 TO R4 THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 24/03/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: THOTTATHIL B. RADHAKRISHNAN, J. = = = = = = = = = = = = = = = = = = = = = = = = W.P.(C).No.9397 of 2009-T = = = = = = = = = = = = = = = = = = = = = = = = Dated this the 24th day of March, 2009. JUDGMENT 1.Heard learned counsel for the petitioner and learned counsel for the respondents. 2.The petitioner is a stage carriage operator. She availed a loan from the first respondent. On default in repayment, notice was issued under Section 13(2) of the SARFAESI Act. This was followed by further action under Section 13(4) of the said Act. 3.The only plea of the petitioner pressed at the time of admission is for a consideration for an opportunity to pay off the outstandings in instalments. Taking into consideration the entire amounts due, WP(C)9397/09 -: 2 :- this writ petition is ordered directing that if the petitioner deposits at the rate of Rs.1 lakh per month payable on or before the 28th of every month commencing from March, 2009, the impugned distress action will stand deferred and dropped ultimately. If there is default in depositing any of the instalments as aforesaid, the benefits of this judgment will stand recalled automatically and the writ petition will stand dismissed enabling the bank to forthwith proceed with further distress action without fresh notice to the petitioner. THOTTATHIL B. RADHAKRISHNAN, JUDGE. Sha/240309