IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE ANTONY DOMINIC WEDNESDAY, THE 2ND APRIL 2008 / 13TH CHAITHRA 1930 W.P.(C).No. 27725 of 2007(A) ----------------------------------- PETITIONER: ------------ P.J.JOY, AGED 50 YEARS, S/O JOSEPH, PADATHIPARAMBIL, 7/118, NJARAKKAL, ERNAKULAM DISTRICT. BY ADV. SRI.P.K.SHAJU RESPONDENTS: ----------------- 1. MANAGER, UCO BANK, FORT COCHIN BRANCH(1660), FORT KOCHI. 2. AUTHORISED OFFICER, UNDER SARFESI ACT, (SECURITISATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY INTEREST ACT, 2002), UCO BANK, FORT KOCHI. BY ADV. SRI.GEORGE K. VARGHESE, SC FOR BANK SRI.V.J.JOHN SRI.C.I.ABRAHAM SRI.JOSE KURIAKOSE (VILANGATTIL) THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 02/04/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: ANTONY DOMINIC, J. =============== W.P.(C) NO. 27725 OF 2007 A ==================== Dated this the 2nd day of April, 2008 J U D G M E N T This writ petition filed during September, 2007 is now moved for orders. Petitioner is a defaulter to the respondent Bank and at the time when the writ petition was filed Section 13(2) notice was under challenge. Now proceedings have culminated in possession notice and producing the said notice as Ext.P3, petitioner is seeking stay of the same by filing IA 4593/2008. 2. What is now prayed for is that he may be permitted to privately sell the property mortgaged and thus liquidate the liability itself. 3. Admittedly, the petitioner is a defaulter and the property proceeded against is the mortgaged property. If that be so, on the face of the opposition raised by the Bank, this court will not be justified indirecting that the property should be released from mortgage and the petitioner should be permitted to privately sell the property. Therefore, the relief sought for by the petitioner cannot be granted. 4. Be that as it may, if the petitioner is so desirous, petitioner may pay 50% of the amount that is due before 30th of April, 2008 and WPC 27725/07 :2 : subject to such payment, I direct that further proceedings pursuant to Ext.P3 be deferred. If the petitioner complies with the aforesaid direction, the petitioner will be permitted to repay the balance amount in three equal monthly instalments, payable on the 30th of May, June and July, 2008. It is clarified that on default in paying the instalment as above, it will be open to the respondents to continue the proceedings without further notice to the petitioner. Writ petition is disposed of as above. ANTONY DOMINIC,JUDGE. Rp