IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN FRIDAY, THE 17TH OCTOBER 2008 / 25TH ASWINA 1930 WP(C).No. 25844 of 2008(B) -------------------------- PETITIONER(S): --------------- A.V.FRANCIS, RESIDING AT ARAKKAL HOUSE (P.O)POOVATHUR, (VIA)CHAVAKKAD, THRISSUR DISTRICT, PIN-680 508. BY ADV. SRI.C.VALSALAN SRI.K.RAKESH ROSHAN SMT.THUSHARA.V SRI.BIJU J.THADIKKAL RESPONDENT(S): --------------- 1. UCO BANK THRISSUR BRANCH, SWARAJ ROUND EAST, TRICHUR, PIN-680 001 REPRESENTED BY IT'S BRANCH MANAGER. 2. AUTHORISED OFFICER, UCO.BANK, THIRUVANANTHAPURAM. 3. THE UNION OF INDIAN,REPRESENTED BY THE SECRETARY, MINISTRY OF FINANCE, GOVERNMENT OF INDIA, NEW DELHI. (THE NAME OF R3 IS DELETED FROM THE PARTY ARRAY AS PER ORDER DATED 27.8.2008 IN THE WRIT PETITION) R1 BYADV. SRI.GEORGE KARITHANAM VARGHESE SRI.V.J.JOHN SRI.JOSE KURIAKOSE (VILANGATTIL) THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 17/10/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: APPENDIX IN WPC.25844/08 PETITIONER'S EXHIBITS: EXT.P1: TRUE COPY OF THE TITLE DEED OF THE PETITIONER RS.NO.192/5DATED 8.12.1981. EXT.P2: TRUE COPY OF THE TITLE DEED OF THE PETITIONER DOCUMENT NO.100/85 DATED 16.1.85. EXT.P3: TRUE COPY OF THE POSSESSION NOTICE DATED 11.8.2008 BY RESPONDENTS 1 AND 2. /TRUE COPY/ THOTTATHIL B.RADHAKRISHNAN, J. ------------------------------------------- W.P(C).No.25844 OF 2008 ------------------------------------------- Dated this the 17th day of October, 2008 JUDGMENT The petitioner is a guarantor for an over draft facility availed from the respondent Bank. On default, the property belonging to the petitioner has been brought to sale. The mere fact that the petitioner is only a guarantor does not improve the case and there is no jurisdictional error or legal infirmity in the impugned SARFAESI Act proceedings. Faced with such situation, learned counsel for the petitioner states that his client gives up all contentions and also the right to move the Debts Recovery Tribunal or other tribunals or courts in relation to the impugned proceedings and prays that the petitioner may be granted an opportunity to pay off the outstandings. 2. Having regard to the total outstandings, which, as of now, is above Rs.58,00,000/-, it is directed that the impugned proceeding will stand deferred if the petitioner remits Rs.10,00,000/- each on or before 15.11.2008, 15.12.2008 and WPC.25844/08 Page numbers 15.1.2009 and continues to pay amounts at the rate of Rs.8,00,000/- per month, on or before 25.2.2009 and 25.3.2009 and the remaining portion on or before the last working day of April, 2009. 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. It is made clear that the time limits fixed as above shall be treated as peremptory. If the petitioner requests the Bank for any statement of accounts, that shall be duly released. The writ petition is disposed of accordingly. Sd/- THOTTATHIL B.RADHAKRISHNAN, Judge. kkb.