IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN TUESDAY, THE 3RD JUNE 2008 / 13TH JYAISHTA 1930 WP(C).No. 14881 of 2008(V) -------------------------- CMP.1794/2008 of C.J.M.,KOTTAYAM .................... PETITIONER: ------------ MARTIN.K.VARGHESE, KUTTUMPEROOR HOUSE, PANDASHALAKADAVU, CHANGANASSERY. BY ADV. SRI.JOMY GEORGE RESPONDENTS: ------------- 1. VIJAYA BANK, M.G.ROAD, 1ST FLOOR JOSE ANNEX, ERNAKULAM, REPRESENTED BY ITS CHIEF MANAGER AND AUTHORIZED OFFICER. 2. CHIEF JUDICIAL MAGISTRATE, KOTTAYAM. 3. STATE OF KERALA REPRESENTED BY ITS SECRETARY, MINISTRY OF HOME AFFIRMS, SECRETARIAT, THIRUVANANTHAPURAM. BY ADV. SRI.K.ANAND,SC, VIJAYA BANK FOR R1 SMT.LATHA KRISHNAN,SC, VIJAYA BANK FOR R1 G.P. SHRI.SANTHOSH KUMAR THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 03/06/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: S.SIRI JAGAN, J. ================== W.P.(C).No. 14881 of 2008 ================== Dated this the 3rd day of June, 2008 J U D G M E N T The petitioner challenges proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, initiated by the respondents for recovery of the amount due from the petitioner to the 1st respondent bank. The petitioner now only submits that he may be granted three months' time to pay off the entire amount. The learned Standing Counsel appearing for the bank opposes the same. 2. However, taking a lenient view, I direct the respondents to grant the petitioner three months' time to pay off the entire balance amount due. If the petitioner pay the amounts within three months, the proceedings for recovery of the amounts due shall be kept in abeyance. However, if the petitioner does not pay the amounts within the said period, it would be open to the 1st respondent to continue the proceedings as now initiated without having to issue any fresh notice or proceedings. The writ petition is disposed of as above. Sd/- sdk+ S.SIRI JAGAN, JUDGE ///True copy/// P.A. to Judge 2