IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN FRIDAY, THE 14TH NOVEMBER 2008 / 23RD KARTHIKA 1930 WP(C).No. 33691 of 2008(J) -------------------------- PETITIONER(S): --------------- VIVEK CEMENT CENTRE, REP. BY ITS PARTNER T.S. SATHEESH, THANNIPARAYIL, MANNARKAYAM P.O., KANJIRAPPALLY. BY ADV. SMT.S.MUMTAZ RESPONDENT(S): --------------- UNION BANK OF INDIA, KOTTAYAM BRANCH, REP. BY THE AUTHERISED OFFICER, KOTTAYAM. BY ADV.SRI.A.S.P.KURUP, S.C. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 14/11/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: THOTTATHIL B.RADHAKRISHNAN, J. ------------------------------------------- W.P(C).No.33691 OF 2008 ------------------------------------------- Dated this the 14th day of November, 2008 JUDGMENT The petitioner availed a facility from the respondent, defaulted repayment and faced proceedings under the SARFAESI Act. After arguing the matter for quite some time, when faced with a situation that there is no jurisdictional error or legal infirmity in the impugned proceedings, learned counsel for the petitioner confines the submissions to a request that the petitioner may be granted sometime to pay off the remaining amounts in instalments. In furtherance of this plea, learned counsel for the petitioner canvassed that even after the notice under Section 13 (2), an amount of Rs.15 lakhs was paid. Under such circumstances, after hearing learned counsel for the petitioner and learned counsel for the bank, this writ petition is ordered directing that if the petitioner remits an amount of Rs.5 lakhs on or before 29th of November, 2008 and continues to remit the remaining amounts, including accruals, in four equal WPC.33691/08 Page numbers monthly instalments, payable on or before the 25th of every month, commencing from December, 2008, the impugned distress action will stand deferred and ultimately dropped. However, if there is default in remitting any of the amounts as aforesaid, the benefit of this judgment shall stand recalled automatically and distress action shall follow. Sd/- THOTTATHIL B.RADHAKRISHNAN, Judge. kkb.