IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.R.RAMACHANDRA MENON MONDAY, THE 15TH JUNE 2009 / 25TH JYAISHTA 1931 WP(C).No. 16373 of 2009(N) ----------------------------------------- PETITIONER(S): ----------------------- RATHINAM AMMAL,D/O.SWARNNAMMAL, REENA BHAVAN,MURUKKUMPUZHA(PO),VEILOOR VILLAGE, THIRUVANANTHAPURAM. BY ADVS. MR.LIJU. M.P., MR. A. SABEER. RESPONDENT(S): --------------------------- 1. THIRUVANANTHAPURAM DISTRICT CO-OPERATIVE BANK, THIRUVANANTHAPURAM,REP.BY ITS SECRETARY. 2. THE AUTHORIZED OFFICER, THIRUVANANTHAPURAM DISTRICT CO-OPERATIVE BANK, THIRUVANANTHAPURAM. 3. A.NADARAJAN,AMC 28/08 SANTHI NAGAR, ATTINGAL,AVANAVANCHERRY(P.O). BY ADV. MR. K.G.RADHAKRISHNAN, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 15/06/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: Kss P.R. RAMACHANDRA MENON J. ~~~~~~~~~~~~~~~~~~~~~~~ W.P. (C) No. 16373 of 2009 ~~~~~~~~~~~~~~~~~~~~~~~ Dated, this the 15th day of June, 2009 JUDGMENT The petitioner has approached this Court challenging the proceedings taken by the respondent Bank invoking the relevant provisions under the SARFAESI Act. The case of the petitioner is that, he happened to be a defaulter, not because of any wilful or deliberate negligence, but due to some unforeseen circumstances and that earnest efforts are being made to wipe off the entire liability. The limited prayer of the petitioner, as put forth by the learned counsel appearing for the petitioner is that, the petitioner may be permitted to clear the entire liability by way of installments. 2. Heard the learned counsel appearing for the respondent Bank as well. 3. Considering the fact that the outstanding liability as on date, is admittedly more than Rs.19,00,000/- and that the cause of action pertains to the loan transaction of 1999, the petitioner is directed to pay a sum of Rs.5 lakhs within one month. The balance amount shall be cleared by way of 8 equal monthly installments commencing from the 10th of August, 2009. It is made clear that if the petitioner commits any default in effecting the installments, as aforesaid, the respondent Bank will be at liberty to proceed with further steps for realization of the entire WP (C) No. 16373 of 2009 : 2 : amount in lump sum. The Writ Petition is disposed of accordingly. P. R. RAMACHANDRA MENON, JUDGE kmd