IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE K.M.JOSEPH MONDAY, THE 26TH MAY 2008 / 5TH JYAISHTA 1930 WP(C).No. 14493 of 2008(A) ---------------------------------------------- PETITIONER: ------------------ DR.MANIMEGHALAI.T., HOUSE NO.20, SKY LINE PARK VILLAS, PEYAD, THIRUVANANTHAPURAM. BY ADV. SRI.MANOJ RAMASWAMY RESPONDENTS: ----------------------- 1. THE AUTHORIZED OFFICER, THE CHIEF MANAGER (ADVANCES), STATE BANK OF TRAVANCORE, MAIN BRANCH, STATUE, THIRUVANANTHAPURAM. ADDL. 2. THE CHIEF MANAGER (ADVANCES), STATE BANK OF TRAVANCORE, MAIN BRANCH, STATUE, THIRUVANANTHAPURAM. (ADDITIONAL R2 IS SUO MOTU IMPLEADED AS PER JUDGMENT DATED 26.5.2008). BY ADV. SRI.M.PATHROSE MATTHAI (SR.) SRI.SAJI VARGHESE THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 26/05/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: K. M. JOSEPH, J. -------------------------------------- W.P.C. NO. 14493 OF 2008 A -------------------------------------- Dated this the 26th May, 2008 JUDGMENT Petitioner availed loan and it was not repaid. Proceedings under the Securitisation And Reconstruction of Financial Assets And Enforcement of Security Interest Act, 2002 have been initiated. Now, it is informed that there was an order passed under Section 14 of the Act for dispossessing the petitioner. Learned counsel for petitioner submits that the petitioner may be given some time to pay off the amount. Having heard the counsel for the parties, the Writ Petition is disposed of as follows: Proceedings against the petitioner including the proceedings under Section 14 of the Act will be kept in abeyance, if the petitioner deposits a sum of Rs.5 Lakhs (Rupees Five Lakhs) within one month from today. The entire balance amount with due interest shall be payable in ten equal monthly instalments, the first of which shall be payable on or before WPC. 14493/08 A 2 2.7.2008. The Chief Manager (Advances), State Bank of Travancore, Main Branch, Statue, Thiruvananthapuram is suo motu impleaded as additional second respondent. Standing counsel takes notice for the additional second respondent also. The additional second respondent will intimate the petitioner within two weeks from today the exact amount of instalments to be paid in terms of this Judgment. If the petitioner does not pay the amount of Rs.5 Lakhs within one month from today or any single instalment as per this Judgment, she will lose the benefit of this Judgment and it will be open to the respondents to proceed against the petitioner in accordance with law. K. M. JOSEPH, JUDGE kbk.