IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN WEDNESDAY, THE 29TH OCTOBER 2008 / 7TH KARTHIKA 1930 WP(C).No. 31174 of 2008(J) ------------------------------------- PETITIONER(S): --------------------- SRI.A.LAKSHMANAN ACHARI, KUMARAMANGALAM HOUSE, MADIYATHARA, OPP.GOVT.VHSS, VAIKOM WEST, VAIKOM P.O., KOTTAYAM DISTRICT. BY ADV. SRI.J.JULIAN XAVIER SRI.FIROZ K.ROBIN RESPONDENT(S): ------------------------ 1. AUTHORIZED OFFICER, STATE BANK OF TRAVANCORE, VAIKOM BRANCH, KERALA. 2. BRANCH MANAGER, STATE BANK OF TRAVANCORE, VAIKOM BRANCH. BY STANDING COUNSEL SRI.SAJI VARGHESE THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 29/10/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: THOTTATHIL B. RADHAKRISHNAN, J. ------------------------------------------------------ W.P.(C) NO.31174 OF 2008 (J) ------------------------------------------------------ Dated this the 29th day of October, 2008 J U D G M E N T The petitioner availed a loan from the second respondent and defaulted in repayment. The transaction is not disputed. Accruals have resulted in SARFAESI Act proceedings. No ground of jurisdictional error or legal infirmity is pointed out. 2. Faced with this situation, giving up all other contentions and rights including the right to move before any statutory authority including DRT or civil court, the petitioner confines to a request that he may be given an opportunity to wipe off the entire outstandings in instalments. Taking into consideration that the total amount fixed for recovery is nearly Rs.4,40,000/- as on 15-7-2008 and repelling all other contentions, this writ petition is ordered directing that if the petitioner remits an amount of Rs.75,000/- on or before 5-11-2008 and continues to remit at the rate of Rs.50,000/- per month, payable on or before the 20th of every W.P.(C) No.31174/2008 - 2 - month, commencing from December, 2008 and thereby wipes off the entire outstandings including accruals and all other charges, the impugned distress action will stand suspended and ultimately dropped. 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. THOTTATHIL B. RADHAKRISHNAN, JUDGE skr/30/10