IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN TUESDAY, THE 30TH SEPTEMBER 2008 / 8TH ASWINA 1930 WP(C).No. 28214 of 2008(H) ---------------------------------------- PETITIONER: ------------------- GASPER.P.SEBASTIAN, PALLIPARAMBIL HOUSE, KATTOOR POST, KALAVOOR, ALAPPUZHA. BY ADV. SRI.M.R.SASITH SRI.M.R.SARIN RESPONDENTS: ------------------------- 1. AUTHORISED OFFICER/CHIEF MANAGER, INDIAN BANK, CHITTOOR ROAD, ERNAKULAM-35. 2. MANAGER, INDIAN BANK, ALAPPUZHA BRANCH. ADV. SRI. S.EASWARAN, SC, IB THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 30/09/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: Kss THOTTATHIL B. RADHAKRISHNAN, J. = = = = = = = = = = = = = = = = = = = = = = = = W.P.(C).No.28214 of 2008-H = = = = = = = = = = = = = = = = = = = = = = = = Dated this the 30th day of September, 2008. JUDGMENT The petitioner availed a facility from the second respondent and defaulted in repayment. This led to recovery proceedings under the SARFAESI Act. Following the interim order passed on 23-9-208, petitioner has paid an amount of Rs.45,000/- instead of Rs.50,000/- fixed in that order. Be that as it may, having found that there is no jurisdictional error or legal infirmity in the impugned proceedings, the petitioner through his learned counsel gives up all contentions and also the right to seek other remedies, including from the DRT under the SARFAESI Act and prays that he may be given an opportunity to pay the outstandings in instalments. Having regard to the total remaining outstandings WP(C)28214/08 -: 2 :- for recovery, this writ petition is ordered directing that if the petitioner remits the entire outstandings in five equal monthly instalments payable on or before the last working day of every month commencing from October, 2008 and thereby pays off the entire outstandings by the end of February, 2009, the impugned distress action will be held back and ultimately dropped. 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 further notice to the petitioner. THOTTATHIL B. RADHAKRISHNAN, JUDGE. Sha/031008