IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN MONDAY, THE 21ST JANUARY 2008 / 1ST MAGHA 1929 WP(C).No. 2467 of 2008(R) ------------------------- PETITIONER: ------------ N.UNNIKRISHNAN NAIR, RAJ BHAVAN, KANAKKARI P.O., ETTUMANOOR, KOTTAYAM DISTRICT. BY ADV. SRI.K.M.VARGHESE RESPONDENTS: ---------------- 1. UNION OF INDIA, REPRESENTED BY SECRETARY, DEPARTMENT OF FINANCE, MINISTRY OF FINANCE, NEW DELHI. 2. STATE OF KERALA, REPRESENTED BY SECRETARY, CO-OPERATIVE DEPARTMENT, GOVERNMENT SECRETARIAT, THIRUVANANTHAPURAM. 3. SPECIAL OFFICER (AUTHORISED OFFICER) SECURITISATION AND RECONSTRUCTION OF FINANCIAL ASSETS ENFORCEMENT OF SECURITY INTEREST ACT, KOTTAYAM DISTRICT CO-OPERATIVE BANK, HEAD OFFICE, KOTTAYAM. 4. KOTTAYAM DISTRICT CO-OPERATIVE BANK, KURUPPANTHARA BRANCH, KURUPPAMTHARA, KOTTAYAM REPRESENTED BY SECRETARY. R2 & R3 BY SR.GOVT.PLEADER SMT.ANU SIVARAMAN. R4 BY ADV. SRI.SUNIL CYRIAC,SC,DIST.CO-OP,BANK,KTM THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 21/01/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: THOTTATHIL B. RADHAKRISHNAN, J. = = = = = = = = = = = = = = = = = = = = = = = = WP(C).No.2467 of 2008-R = = = = = = = = = = = = = = = = = = = = = = = = Dated this the 21st day of January, 2008. JUDGMENT 1.Having heard the learned counsel for the petitioner, I am satisfied that there is no ground to interfere with the impugned proceedings. If the petitioner's case is that the property is not liable to be proceeded against on the ground that it is an agricultural land and it falls within the pale of the SARFAESI Act, he ought to establish that fact before the Debts Recovery Tribunal. The learned counsel for the petitioner confines his submission to a request that the petitioner may be given an opportunity to wipe off the outstandings. Under such circumstances, it is directed that the further proceedings as on today will stand deferred, if the petitioner remits at the rate of Rs.50,000/- WP(C)2467/2008 -: 2 :- per month payable on or before the last working day of every month commencing from January, 2008 and thus wipes off the entire outstandings. However, if the petitioner applies for any ameliorative concessions as may be available and that could be extended, the Bank will extend such benefit and the petitioner will abide by such terms as may be imposed by the Bank. 2.The writ petition is disposed of in the above terms. THOTTATHIL B. RADHAKRISHNAN, JUDGE. Sha/