IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.R.RAMACHANDRA MENON MONDAY, THE 8TH JUNE 2009 / 18TH JYAISHTA 1931 WP(C).No. 14443 of 2009(A) -------------------------- CMP.2263/2009 of C.J.M.,KOLLAM .................... PETITIONER: --------------- G.SASEENDRAN,SOLE PRO:M/S.PRASANTHI, KULAMULLAZHIKATHU,KOTTATHALA P.O., KOTTARAKKARA. BY ADV. MR. PRATHEESH.P RESPONDENT: --------------- THE AUTHORIZED OFFICER, CHIEF MANAGER,STATE BANK OF TRAVANCORE, KOTTARAKKARA MAIN BRANCH,KOTTARAKKARA. BY ADV. MR. R.S. KALCURA, STANDING COUNSEL THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 08/06/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: P.R. RAMACHANDRA MENON J. ~~~~~~~~~~~~~~~~~~~~~~~ W.P. (C) No.14443 of 2009 ~~~~~~~~~~~~~~~~~~~~~~~ Dated, this the 8th day of June, 2009 JUDGMENT The petitioner has approached this Court challenging the steps under SARFAESI Act, when the petitioner turned to be a defaulter in respect of the loan availed from the Bank. 2. When the matter came up for consideration before this Court today, the learned counsel for the petitioner submits that, petitioner would like to approach the Bank for seeking the benefit of clearing the liability under 'One Time Settlement'. 3. Heard the learned counsel appearing on behalf of the respondents as well, who submits that, if the petitioner approaches the Bank with a genuine claim for 'One Time Settlement', the same will definitely be considered by the Bank, passing appropriate orders thereon. 4. In the above facts and circumstances, the Writ Petition is disposed of, permitting the petitioner to approach the Bank for the benefit of 'One Time Settlement', as sought for and on such an event, the Bank shall consider and pass appropriate orders thereon, within a period of one month from the date of receipt of such application. It is also made clear that, till appropriate orders are passed, coercive proceedings already initiated against the petitioner shall be kept in WP (C) No. 14443 of 2009 : 2 : abeyance. The Writ Petition is disposed of accordingly. P. R. RAMACHANDRA MENON, JUDGE kmd