IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE ANTONY DOMINIC TUESDAY, THE 18TH MARCH 2008 / 28TH PHALGUNA 1929 W.P(C).No. 7803 of 2008(D) -------------------------------- PETITIONER: -------------- VIJAYA KUMAR, AGED 44 YEARS, S/O.LATE SANKARAN, 6/574, 100 FEET ROAD PUTHUR, PALAKKAD. BY ADV. RAMAKUMAR (SR.) SRI.T.RAMPRASAD UNNI SMT.SMITHA GEORGE SRIMANU TOM SRI.M.MANOJKUMAR (CHELAKKADAN) RESPONDENT: --------------- THE CANARA BANK, XII/785 A P. VASU MENON MEMORIAL MUNICIPAL SHOPPING CENTRE SULTANPET, PALAKKAD, REPRESENTED BY ITS AUTHORIZED OFFICER. BY ADV. SRI.P.GOPINATH MENON, SC, CANARA BANK THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 18/03/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: ANTONY DOMINIC, J. =============== W.P.(C) NO. 7803 OF 2008 D ==================== Dated this the 18th day of March, 2008 J U D G M E N T In this writ petition, proceedings have been initiated against the petitioner under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act and the liability seems to be more than Rs.50 lakhs. It is stated that the possession of the mortgaged properties has also been taken over and it is at that stage the writ petition has been filed challenging the action taken by the Bank for realising the amount that is due from the petitioner towards the two loans that he has availed. 2. When the case was taken, counsel for the petitioner only sought an instalment facility to discharge the liability and I heard the counsel for the Bank on this. 3. Having regard to the submissions made by the counsel for the petitioner and also the Bank, I dispose of this writ petition directing that the petitioner will be permitted to pay the entire amount that is due to the Bank in five equal monthly instalments, first of which will be payable before 31st of March, 2008 and the subsequent instalments will be payable before the end of every succeeding month. Subject to payment as above, WPC 7803/08 :2 : further proceedings against the mortgaged properties will stand deferred and in case default is committed by the petitioner , the Bank will be free to continue the action that it has already initiated. Writ petition is disposed of as above. ANTONY DOMINIC,JUDGE. Rp