IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN MONDAY, THE 11TH FEBRUARY 2008 / 22ND MAGHA 1929 WP(C).No. 34267 of 2007(D) -------------------------- PETITIONER: ------------ PRASILA JUSTIN, W/O. JUSTIN, PULIKOTTIL HOUSE, ORUMANAYOOR P.O. BY ADV. SMT.E.V.MOLY RESPONDENTS: ------------- 1. THE JOINT REGISTRAR (GENERAL), OFFICE OF THE JOINT REGISTRAR OF CO-OPERATIVE SOCIETIES, TRICHUR. 2. GURUVAYOOR CO-OPERATIVE URBAN BANK LTD., REPRESENTED BY ITS GENERAL MANAGER, GURUVAYOOR, TRICHUR. BY GOVT.PLEADER SHRI M.K.PUSHPALATHA. ADV. SRI.DEVAPRASANTH.P.J. For R2 THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 11/02/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: APPENDIX IN W.P.(C)No.34267/07 PETITIONER'S EXHIBITS: EXT.P1: A TRUE COPY OF THE JUDGMENT DATED 6.11.2006. EXT.P2: A TRUE COPY OF THE LETTER ISSUED BY THE BANK. EXT.P3: REPLY LETTER SENT BY THE PETITIONER. EXT.P4: 'NOTICE OF POSSESSION' UNDER RULE 9, SEC.13(4) OF THE SECURITIZATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY INTEREST ACT, 2002. TRUE COPY THOTTATHIL B. RADHAKRISHNAN, J = = = = = = = = = = = = = = = = = = = = = = W.P.(C).No. 34627 OF 2007 = = = = = = = = = == = = = = = = Dated this the 11th day of February, 2008. = = = = = = = = == = = = = = = = = = = J U D G M E N T The petitioner is the debtor of the 2nd respondent. The challenge regarding the applicability of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act is covered against the petitioner by the judgment of this court in Varghese A.P. vs. Kerala State Co-operative Bank Ltd. and others (2008(1) ILR Kerala 294). This leaves the only contention regarding the request of the petitioner for relief to pay off all the outstandings in instalments and for extending any ameliorative benefits. 2. The petitioner has complied with the interim directions issued on 20.11.2007. Accordingly this writ petition is disposed of directing that if the petitioner remits the entire remaining outstanding also at the rate of Rs. 25,000/- per month, the distress action will be held back, letting the petitioner to pay off the outstandings. The 2nd respondent is also directed to take up any request of the W.P.(C).No. 34627 OF 2007 2 petitioner for extending any ameliorative benefit by waiving any portion of interest, penal interest, etc., and extend such benefits as it deems fit. THOTTATHIL B. RADHAKRISHNAN JUDGE bkn/-