IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN MONDAY, THE 20TH OCTOBER 2008 / 28TH ASWINA 1930 WP(C).No. 30249 of 2008(A) -------------------------- CMP.1587/2008 of C.J.M.,TRIVANDRUM .................... PETITIONER: ------------------- BINDU SURENDRAN, SUBJITH BHAVAN, THANNIVILA, MUNDAVANKUNNU, NEYYARDAM P.O. TRIVANDRUM. BY ADV. SRI.S.MOHAMMED AL RAFI RESPONDENT(S): ------------------------ 1. H.D.F.C. LTD., REPRESENTED BY AUTHORIZED OFFICER, H.D.F.C HOUSE, VAZHUTHACAUD, TRIVANDRUM - 10. 2. BRANCH MANAGER, H.D.F.C. LTD., VAZHUTHACAUD, TRIVANDRUM - 10. ADV. SRI.K.K.CHANDRAN PILLAI, SC, HDFC FOR R1 & R2 THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 20/10/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: THOTTATHIL B. RADHAKRISHNAN, J. ------------------------------------------------------ W.P.(C) NO.30249 OF 2008 (A) ------------------------------------------------------ Dated this the 20th day of October, 2008 J U D G M E N T The petitioner availed a housing loan, defaulted in repayment and is facing proceedings under the SARFAESI Act, which has led to the impugned action under Section 14 of the Act. The total defaulted EMI and the accruals thereon is more than Rs.2.5 lakhs and the impugned recovery action is for about Rs.5 lakhs. There is no jurisdictional error or legal infirmity in the impugned distress action. 2. Faced with this situation, the learned counsel for the petitioner states that his client gives up all other contentions and rights including the right to move before any statutory authority including DRT or civil court and confines to a request that his client may be given an opportunity to wipe off the entire outstandings. Considering the aforesaid submission, it is ordered directing that if the petitioner remits an amount of Rs.2 lakhs within a period of four weeks and continues to remit the remaining outstandings in equal instalments, W.P.(C) No.30249/2008 - 2 - payable on or before the last working day of every month, commencing from December, 2008, the impugned distress action will be withheld and dropped on satisfaction. If there is default in remitting any of the instalments as afore-directed, the benefit of this judgment shall stand recalled and the writ petition shall stand dismissed automatically, enabling the respondents to forthwith proceed with further distress action. Sd/- THOTTATHIL B. RADHAKRISHNAN, JUDGE skr/20/10 // True copy // P.A. to Judge