IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE ANTONY DOMINIC FRIDAY, THE 11TH MARCH 2011 / 20TH PHALGUNA 1932 WP(C).No. 7777 of 2011(V) ------------------------- PETITIONER(S): --------------- 1. DINESHAN K., AGED 38 YEAS, S/O. P.V.KUNHIKANNAN, RESIDING AT CHANDHERA HOUSE, MANIYAT P.O., KASARAGOD DISTRICT. 2. MINI C.V., AGED 34 YEARS, W/O. DINESHAN K., RESIDING AT CHANDHERA HOUSE, MANIYAT P.O., KASARAGOD DISTRICT. BY ADV. SRI.JAWAHAR JOSE SMT.CISSY MATHEWS RESPONDENT(S): --------------- 1. THE AUTHORIZED OFFICER (UNDER THE SARFAESI ACT), GENERAL MANAGER OF THE BANK, NMGB TOWERS, PALLIKUNNU, KANNUR - 670 004. 2. THE BRANCH MANAGE, NORTH MALABAR GRAMIN BANK, CHERUVATHUR BRANCH, KASARAGODE DISTRICT - 671 313. BY SC SRI. DEVAN RAMACHANDRAN THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 11/03/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: ANTONY DOMINIC, J. -------------------------------------------------- W.P.(C) NO.7777 OF 2011(V) -------------------------------------------------- Dated this the 11th day of March, 2011 J U D G M E N T Heard the counsel for the petitioners and the Standing counsel appearing for the respondents. 2. Petitioners availed of two loans from the respondent Bank. Default was committed and proceedings under the SARFAESI Act were initiated. At present, it would appear that a Commissioner has been appointed by the Chief Judicial Magistrate, Kasaragod as per orders under Section 14 of the Act. According to the petitioner the Commissioner is to visit the property again on 12.3.2011 for taking over possession of the mortgaged property and it is at this stage the writ petition has been filed. 3. Although several contentions are raised, the learned counsel for the petitioners rightly confined his prayer for an instalment facility. On this prayer, I heard the Standing Counsel appearing for the Bank who opposed the prayer. 4. Having regard to the limited prayer sought for by the petitioners and also taking into account the bona fides of the WPC.No. 7777/2011 :2 : petitioners to discharge the liability, I feel that the petitioners should be afforded instalment facility to discharge the liability. 5. Therefore, the writ petition is disposed of with the following directions. Before 31.3.2011, the petitioners shall remit Rs.2.5 lakhs to the 2nd respondent. Subject to such payment further proceedings pursuant to Ext.P1 notice and orders under Section 14 of the Act will stand stayed. The balance amount due to the Bank shall be paid in 6 equal monthly instalments, the first of which shall be paid on or before 30.4.2011 and the remaining instalments will be paid on or before the last working day of every succeeding month. If the payments are made without default further proceedings will be deferred and in case default is committed the Bank will be free to initiate proceedings. Standing Counsel will communicate this judgment to the respondent Bank for compliance. (ANTONY DOMINIC) JUDGE vi/ WPC.No. 7777/2011 :3 :