IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN THURSDAY, THE 26TH JUNE 2008 / 5TH ASHADHA 1930 WP(C).No. 19328 of 2008(A) -------------------------- PETITIONER: ------------ H.ABDUL RAHIM , AGED 51,S/O M.HYDROSE KUNJU,BABU MANZIL, VELLAKKINAR WARD, ALAPPUZHA 688 001. BY ADV. SRI.P.JACOB VARGHESE (SR) SRI.VIVEK VARGHESE P.J. SMT.PRAISHEEL PRAKASAM SMT.ELIZEBETH MEERA RESPONDENT: ------------- THE AUTHORISED OFFICER, STATE BANK OF TRAVANCORE, ALAPPUZHA MAIN BRANCH, CCSB ROAD, ALAPPUZHA. BY SHRI.P.JACOB VARGHESE THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 26/06/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: S.SIRI JAGAN, J. ================== W.P.(C).No.19328 of 2008 ================== Dated this the 26th day of June, 2008 J U D G M E N T Proceedings have been initiated against the petitioner by the respondent under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, for recovery of loan amounts due from the petitioner to the respondent. The petitioner earlier approached the Debts Recovery Tribunal unsuccessfully. However, the DRT while permitting the respondent to receive tenders inviting bids for sale of the secured assets, directed him not to open the tenders and to keep the proceedings in abeyance till the expiry of the time granted to the petitioner to pay off the amounts. According to the petitioner, he has been given facility to pay the amount in three instalments and he has paid first and second instalments amounting to more than rupees 12 lakhs. Now the last instalment falls due on 30.6.2008 for payment. The petitioner seeks three months' time to pay the said instalment. 2. This is opposed by the counsel for the respondent. The counsel would submit that the petitioner was given sufficient opportunity to pay off the amount, which he has not availed of. 3. I have considered the rival contentions in detail. 4. In view of the fact that the petitioner has paid substantial amount and he only wants some time to pay off the last instalment, I feel that the petitioner can be given one more month's time to pay off the balance amount subject to the same conditions imposed by the DRT. Accordingly, I direct the respondent to permit the petitioner to pay off the balance amount on or before 30.7.2008 with the specific condition that the petitioner will not be granted any further extension of time for payment. The writ petition is disposed of as above. Sd/- sdk+ S.SIRI JAGAN, JUDGE ///True copy/// P.A. to Judge