IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN THURSDAY, THE 18TH DECEMBER 2008 / 27TH AGRAHAYANA 1930 WP(C).No. 36676 of 2008(N) ------------------------------------ PETITIONER: --------------- T.THULASIDHARAN, S/O. THANKAPPAN ASARI, EAEZHAMMOZHI PTHADATHARIKATHU VEEDU, VEERANAKAVU P.O., POOVACHAL, THIRUVANANTHAPURAM DIST. BY ADV. SRI.SAJU.S.A RESPONDENTS: ------------------------- 1. THE AUTHORISED OFFICER, CHIEF MANAGER (ADVANCES), STATE BANK OF TRAVANCORE, REGION -II, ZONAL OFFICE, THIRUVANANTHAPURAM. 2. THE MANAGER, STATE BANK OF TRAVANCORE, POOVACHAL BRANCH, POOVACHAL, THIRUVANANTHAPURAM. BY STANDING COUNSEL SRI. SAJI VARGHESE THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 18/12/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: THOTTATHIL B. RADHAKRISHNAN, J. ------------------------------------------------------ W.P.(C) NO.36676 OF 2008 (N) ------------------------------------------------------ Dated this the 18th day of December, 2008 J U D G M E N T The petitioner is an Autorikshaw driver. He availed a housing loan. On default, SARFAESI Act proceedings have been initiated. The only plea is that he may be granted some installments to pay off the outstandings. His honesty has even been publically approved, since he returned an amount of Rs.50,000/-, which was lost and found. Exhibit P1 newspaper report is to that effect. The petitioner remitted only Rs.10,000/- after availing a loan of Rs.1,50,000/-. Under such circumstances, this writ petition is ordered directing that if the petitioner remits an amount of Rs.25,000/- within a period of one month, the impugned distress action will be deferred till the end of the current financial year to enable the petitioner to find out a private purchaser and sell off the holdings with the junction of the bank so that the vendee can pay the amount directly to the bank and close the transaction. Sd/- THOTTATHIL B. RADHAKRISHNAN, JUDGE skr/20/12 // True copy // P.A. to Judge.