IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE ANTONY DOMINIC TUESDAY, THE 8TH JANUARY 2008 / 18TH POUSHA 1929 WP(C).No. 35520 of 2007(C) --------------------------------------- CMP.3941/2007 of C.J.M.,TRIVANDRUM .................... PETITIONER: ------------------- RAVI, S/O. CHELLAN PANICKER, SANTHOSH NIVAS, PUNNAVOOR, KOOVALASSERY P.O., THIRUVANANTHAPURAM. BY ADV. SRI.G.SUDHEER RESPONDENTS: ----------------------- 1. PNB HOUSING FINANCE LTD., THIRUVANANTHAPURAM BRANCH, CAPITAL TOWERS, STATUE, THIRUVANANTHAPURAM, REPRESENTED BY IT'S SENIOR VICE PRESIDENT/AUTHORISED OFFICER. 2. STATE OF KERALA, REPRESENTED BY GOVERNMENT PLEADER, HIGH COURT OF KERALA, ERNAKULAM. R1 BY ADV. SRI.R.S.MOHANAN NAIR BY GOVERNMENT PLEADER SRI.P.N.SANTHOSH THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 08/01/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: W.P.(C) NO.35520/2007 APPENDIX PETITIONERS EXHIBITS EXT.P1:- COPY OF THE STATEMENT OF ACCOUNT DT. 1.10.2007 ISSUED BY THE IST RESPONDENT. EXT.P2:- COPY OF THE RECEIPT DT. 22.10.2007 AND 27.10.2007 ISSUED BY THE IST RESPONDENT. EXT.P3:- COPY OF THE PETITION SUBMITTED BY THE IST RESPONDENT IN CMP. NO.3941/2007 DT. 9.2007. RESPONDENT'S EXHIBITS EXT.R1(a):- COPY OF THE RECEIPT DT. 5.11.02 LOAN AMOUNT RECEIVED BY THE PETITIONER. EXT.R1(b):- COPY OF THE DEMAND NOTICE ISSUED BY THE RESPONDENT DT. 21.9.05. EXT.R1(c):- COPY OF THE POSSESSION NOTICE ISSUED BY THE RESPONDENT DT. 9.1.2006. EXT.R1(d):- COPY OF THE OUTSTANDING BALANCE AS ON 31.10.2007. EXT.PR1(e):- COPY OF THE REPRESENTATION DT. 27.10.2007 GIVEN BY THE PETITIONER TO THE IST RESPONDENT. /TRUE COPY/ P.S. TO JUDGE tss ANTONY DOMINIC, J. = = = = = = = = = = = = = = = = W.P.(C) No. 35520 OF 2007 C = = = = = = = = = = = = = = = = Dated this the 8th January, 2008 J U D G M E N T Petitioner, who is facing proceedings under the Securitisation and Reconstruction of Financial Assets & Enforcement of Security Interest Act, 2002 has approached this Court challenging the same. It is submitted that an order under Section 14 of the Act was passed by the Chief Judicial Magistrate and that physical possession is scheduled to be taken over on 17th of this month. It is at this stage the writ petition has been filed. 2. The liability indicated is Rs.4,04,317/- as on 31.10.2007 and what the petitioner seeks is time for payment. Having regard to the submissions that are made, I am not satisfied that there is anything illegal in the proceedings initiated warranting interference. However, taking into account the submissions made before me and the financial constraints of the petitioner, I direct that it will be open to the petitioner to discharge the entire liability in three equal monthly instalments the first of which will be payable on 15.1.2008 WPC No. 35520/07 -2- and the subsequent instalments will be payable on 15.2.2008 and 15.3.2008. Subject to payment as above, further proceedings against the petitioner shall be deferred and in case default is committed in any one of the instalments the respondents will be free to continue the proceedings without any further notice. Writ petition is disposed of as above. ANTONY DOMINIC JUDGE jan/-