IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE ANTONY DOMINIC FRIDAY, THE 18TH JANUARY 2008 / 28TH POUSHA 1929 WP(C).No. 34991 of 2007(N) -------------------------- PETITIONER: --------------- LAKSHMIKUTTY C.K., W/O.GOVINDAN, AGED 68 YEARS, THAIKOOTTATHIL HOUSE, AYYAMPILLY P.O. ERNAKULAM DIST. BY ADV. SRI.V.M.KRISHNAKUMAR SMT.P.A.ANITHA RESPONDENTS: ------------------ 1. THE AUTHORISED OFFICER, SECURITISATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY INTEREST ACT 2002 (FEDERAL BANK LIMITED), REGIONAL OFFICE, ERNAKULAM. 2. THE FEDERAL BANK LIMITED, REPRESENTED BY MANAGER, REGISTERED OFFICE, ALWAYE. BY ADV. SRI.MOHAN JACOB GEORGE SMT.P.V.PARVATHI SMT.REENA THOMAS SRI.L.RAM MOHAN THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 18/01/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: ANTONY DOMINIC, J. =============== W.P.(C) NO. 34991 OF 2007 N ===================== Dated this the 18th day of January, 2008 J U D G M E N T Petitioner against whom proceedings have been initiated under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 has approached this court for directing the Bank to permit him to discharge the liability by giving him time till 31/3/2008. 2. Learned Counsel for the Bank submits that the liability as at present is about Rs. 12 lakhs and that if the petitioner is willing to prove his bonafides by making a payment, Bank is willing to consider the request of the petitioner. 3. In view of the submission made by the counsel for the Bank, I dispose of this writ petition with following directions. 4. That within three weeks from today, petitioner shall deposit an amount of Rs. 3 lakhs with the respondent Bank. On WPC 34991/07 :2 : deposit of the amount as above, Bank shall consider Ext.P3 application made by the petitioner. Subject to remittance as above, further proceedings pursuant to Ext.P2 will be deferred and the matter shall be reconsidered by the Bank. It is made clear that if the petitioner does not make remittance as above, Bank will be free to proceed without further notice. Writ petition is disposed of as above. ANTONY DOMINIC, JUDGE. Rp