IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.R.RAMACHANDRA MENON WEDNESDAY, THE 5TH AUGUST 2009 / 14TH SRAVANA 1931 WP(C).No. 20567 of 2009(M) -------------------------- CRMP.6193/2009 of C.J.M.,KOLLAM .................... PETITIONER: --------------- MRS. BEEMA BEEVI, S.K. ALIAS, S.K. BEEMA MOHAMMED, AGED 37 YEARS, PROPRIETORIX OF MARIYAM EXPORTS, KAATTUKULATHIL KOIVILA P.O., KOLLAM -90 BY ADV. MS. P.K.RADHIKA RESPONDENT: --------------- THE MANAGER STATE BANK OF INDIA, RAMANKULANGARA BRANCH, KOLLAM. BY ADV. MR. K.K. CHANDRAN PILLAI, STANDING COUNSEL THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 05/08/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: P.R. RAMACHANDRA MENON J. ~~~~~~~~~~~~~~~~~~~~~~~ W.P. (C) No. 20567 of 2009 ~~~~~~~~~~~~~~~~~~~~~~~ Dated, this the 5th day of August, 2009 JUDGMENT The petitioner had availed a loan of Rs. 25 lakhs from the respondent Bank in the year 2006, in connection with her export business. Because of the adverse conditions in the market, the business became dull and the petitioner could not satisfy the commitment in repaying the loan amount; under which circumstances, the Bank was constrained to proceed with coercive steps under the SARFAESI Act. The petitioner has approached this Court, challenging the said steps. 2. The main prayer of the petitioner is for issuance of a 'Writ of Mandamus', directing the respondents 1 and 2 to allow the petitioner to close down the loan account by remitting the entire balance amount due and release the documents to the petitioner within a time frame. 3. The learned counsel appearing for the Bank submits on instructions that, the Bank does not have any objection in allowing the said prayer, if the petitioner satisfies the entire amount in the shortest possible time. It is also brought to the notice of this Court that, if the petitioner so desires, she can be permitted to discharge the liability by way of minimum number of installments, as well. WP (C) No. 20567 of 2009 : 2 : 4. After hearing both the sides, the petitioner is directed to pay a sum of Rs. 1 lakh on or before the 31st of this month and the balance amount shall be deposited by way of nine equal monthly installments; the first of which shall be effected on before the 25th of September, 2009, to be followed by the remaining installments to be effected on or before the 25th of the succeeding months. Subject to the above, all further coercive steps, now being pursued against the petitioner, shall be kept in abeyance. It is also made clear that, if any default is committed in satisfying the amounts as above, the respondent Bank will be at liberty to proceed against the petitioner, for realization of the entire amount in lump sum, from the stage where it stands now. The Writ Petition is disposed of as above. P. R. RAMACHANDRA MENON, JUDGE kmd