IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN TUESDAY, THE 2ND DECEMBER 2008 / 11TH AGRAHAYANA 1930 WP(C).No. 35545 of 2008(F) -------------------------------------- PETITIONER: ------------------- A.KABEER, MELATHEL PUTHAN VEEDU, OOMANPALLIKARA, KILIMANNOOR, THIRUVANANTHAPURAM DISTRICT. BY ADV. SRI.J.JAYAKUMAR, ADV. SMT.M.A.THASNIM. RESPONDENTS: ----------------------- 1. THE AUTHORISED OFFICER, SYNDICATE BANK, RECOVERY CELL, REGIONAL OFFICE, THIRUVANANTHAPURAM. 2. THE BRANCH MANAGER, SYNDICATE BANK, ATTINGAL BRANCH, THIRUVANANTHAPURAM. R1 & R2 BY ADV. SRI. R.S. KALKURA, S.C. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 02/12/2008,THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: prv. THOTTATHIL B. RADHAKRISHNAN, J. = = = = = = = = = = = = = = = = = = = = = = = = W.P.(C).No.35545 of 2008-F = = = = = = = = = = = = = = = = = = = = = = = = Dated this the 2nd day of December, 2008. JUDGMENT Heard. The petitioner faces proceedings under the SARFAESI Act in relation to a housing loan which was classified as an NPA. No other issues are pressed. At hearing, learned counsel for the petitioner requests for facility to pay off the outstandings in instalments and to recoup the property which has been taken possession of. Under such circumstances, this writ petition is ordered directing that if the petitioner remits an amount of Rs.3 lakhs at the earliest, at any rate, within one month, he will be put back in occupation of the property which will continue in de jure possession of the bank and if the petitioner remits the entire remaining portions WP(C)35545/08 -: 2 :- in instalments at the rate of Rs.50,000/- payable on or before the 25th of every month commencing from January, 2009, the impugned proceedings will be ultimately dropped on satisfaction of recovery and the proceedings will be closed appropriately in accordance with law. If there is default in remitting any of the instalments as aforesaid, the benefits of this judgment will stand recalled and the writ petition will stand dismissed automatically enabling the respondents to forthwith proceed with further distress action without fresh notice to the petitioner. THOTTATHIL B. RADHAKRISHNAN, JUDGE. Sha/051108