IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.R.RAMACHANDRA MENON WEDNESDAY, THE 9TH JUNE 2010 / 19TH JYAISTHA 1932 WP(C).No. 22885 of 2009(E) -------------------------- PETITIONER: --------------- K.R.SASIDHARAN,AGED 46 YEARS, S/O.RAGHAVAN,KALAYIL HOUSE,P.O.PANTHALLUR HILLS, PANDIKKAD,MALAPPURAM DISTRICT. BY ADV. SRI.P.VIJAYA BHANU SRI.P.VENUGOPAL (1086/92) RESPONDENTS: --------------- 1. MALAPPURAM DISTRICT CO-OPERATIVE BANK LTD,MAIN BRANCH,MALAPPURAM,REPRESENTED BY ITS MANAGER. 2. AUTHORIZED OFFICER-DEPUTY GENERAL MANAGER P&D,MALAPPURAM DISTRICT CO-OPRATIVE BANK LTD,HEAD OFFICE,UPHILL-MALAPPURAM. BY ADV. SRI.V.KRISHNA MENON ADV. SMT.P.VIJAYAMMA THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 09/06/2010, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: W.P.(C)No.22885 OF 2009 APPENDIX PETITIONER'S EXHIBITS: EXT.P1 : TRUE COPY OF THE POSSESSION NOTICE DATED 21.05.2008 ISSUED BY THE RESPONDENT. EXRT.P2 : TRUE COPY OF THE SALE NOTICE DATED 10.07.2009 ISSUED BY THE RESPONDENT. EXT.P3 : TRUE COPY OF THE RECEIPT NO. R.85462 DATED 29.02.2008 EXT.PO4 : TRUE COPY OF RECEIPT NO. R. 44531 DATED 08.07.2008 ISSUED BY THE RESPONDENT/BANK. EXT.P5 : TRUE COPY OF RECEIPT NO. R.60692 DATED 02.08.2008 ISSUED BY THE RESPONDENT BANK /TRUE COPY/ P.S. TO JUDGE. P.R. RAMACHANDRA MENON, J. .............................................................................. W.P.(C)No.22885 OF 2009 ......................................................................... Dated this the 9th June, 2010 J U D G M E N T The petitioner has approached this Court challenging the steps taken by the respondent Bank for realisation of the amount stated as due from the petitioner under a loan transaction. When the matter came up for consideration on 12.08.2009, the coercive steps were intercepted on condition that the petitioner deposited a sum of Rs.50000/- (Rupees fifty thousand only) within one month. 2. The learned Counsel for the petitioner submits that the condition has been complied with and the balance amount is only about Rs.1.6 lakhs. The learned Counsel also submits that the petitioner does not intend to press any of the grounds in respect of the challenge raised against the steps taken by the respondent Bank nor does the petitioner intend to approach the DRT for availing the statutory remedy. The only prayer now pressed before this court is to permit the petitioner to clear the liability in a phased manner. 3. Heard the learned Standing Counsel appearing for the W.P.(C)No.22885 OF 2009 2 Bank as well. 4. Considering the facts and circumstances, the petitioner is directed to clear the liability by way of 'four' equal monthly installments, the first of which shall be satisfied on or before 30.06.2010 to be followeod by similar installments to be effected on or before the 30th of the succeeding months. Subject to the above, the recovery proceedings stated as being pursued against the petitioner shall be kept in abeyance. It is made clear that if any default is committed by the petitioner in effecting the installments as above, the respondent Bank will be at liberty to proceed with further steps for realisation of the amount in a lump sum from the stage where it stands now. The Writ Petition is disposed of. P.R. RAMACHANDRA MENON, JUDGE. lk -