IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.R.RAMACHANDRA MENON THURSDAY, THE 16TH JULY 2009 / 25TH ASHADHA 1931 WP(C).No. 20061 of 2009(C) -------------------------- PETITIONER: --------------- NAVAS, AGED 40, S/O MOHAMMED HANEEFA, RESIDING AT KOLLAM VILAKAM, PALLIMUKKU, KEEZHATTINGAL VILLAGE, CHIRAYINKEEZHU TALUK THIRUVANANTHAPURAM BY ADV. MR. R.T.PRADEEP MR. V.VIJULAL RESPONDENT: --------------- THIRUVANANTHAPURAM DISTRICT CO.OPERATIVE BANK REPRESENTED BY ITS AUTHORISED OFFICER, HEAD OFFICE, KIZHAKKEKOTTAH, TRIVANDRUM BY ADV. MR. A.G. RADHAKRISHNAN, STANDING COUNSEL THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 16/07/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: P.R. RAMACHANDRA MENON J. ~~~~~~~~~~~~~~~~~~~~~~~ W.P. (C) No. 20061 of 2009 ~~~~~~~~~~~~~~~~~~~~~~~ Dated, this the 16th day of July, 2009 JUDGMENT The petitioner has approached this Court challenging the coercive steps taken by the respondent Bank, invoking the relevant provisions under the SARFAESI Act, on many a ground, however conceding that, there occurred some default in remitting the periodical installments which is stated as never because of any wilful latches or deliberate negligence, but due to some unforeseen circumstances. The learned counsel for the petitioner submits that, the entire liability towards the Bank will be cleared within a short time, by way of installments. 2. Heard the learned counsel appearing for the respondent Bank as well. 3. Considering the facts and circumstances, particularly that the sale is notified to be held on 28.7.2009, there will be a direction to the petitioner to effect a deposit of Rs. 1 lakh on or before 27.7.2009, on which event, the sale shall stand adjourned for the time being and the petitioner will be permitted to clear the balance amount by way of six equal monthly installments. The first installment shall be effected on or before the 1st September, 2009, to be followed by similar installments on or before the first day of each succeeding month. If any default is WP (C) No. 20061 of 2009 : 2 : committed by the petitioner in remitting the deposit of Rs.1 lakh on or before 27.7.09 or if the petitioner fails to effect the installments as mentioned herein before, the respondent Bank will be at liberty to proceed with further steps from the stage where it stands now, for realization of the entire amount in lump sum. This will be without prejudice to the right of the petitioner to approach the Bank for any concession and also for the benefit of 'OTS', which however shall be considered and decided by the Bank, to the extent as permissible. The Writ Petition is disposed of accordingly. P. R. RAMACHANDRA MENON, JUDGE kmd