IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE ANTONY DOMINIC FRIDAY, THE 11TH MARCH 2011 / 20TH PHALGUNA 1932 WP(C).No. 7746 of 2011(P) ------------------------- PETITIONER(S): --------------- C.SELAVARAJ, S/O. CHARLES, AGED 47, RAJ BHAVAN, T.C.21/1779(21) SOMAN NAIGAR, NEDUNGAD KARAMANA.P.O. BY ADV. SRI.R.T.PRADEEP SRI.V.VIJULAL RESPONDENT(S): --------------- THE AUTHORIZED OFFICER, CHIEF MANAGER, UNION BANK OF INDIA, KARAMANA BRANCH,THIRUVANANTHAPURAM. BY SC SRI. ASP KURUP THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 11/03/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: ANTONY DOMINIC, J. -------------------------------------------------- W.P.(C) NO.7746 OF 2011(P) -------------------------------------------------- Dated this the 11th day of March, 2011 J U D G M E N T Petitioner availed of a loan from the Union Bank of India for business purposes. Default was committed and proceedings under the SARFAESI Act were initiated. Finally, Ext.P3 order has been passed by the Chief Judicial Magistrate exercising powers under Section 14 of the Act and according to the petitioner the mortgaged property, where the petitioner is running a restaurant, is sought to be taken possession on 16.3.2011. It is at this stage the writ petition is filed. 2. Although several contentions have been raised in the pleadings, when the matter was taken up, petitioner confined his prayer for an instalment facility to discharge the liability and to avoid coercive action. 3. I heard the counsel appearing for the respondent Bank. Although the counsel for the Bank opposed the prayer, still having regard to the facts pointed out, I am inclined to think that the petitioner should be given an opportunity to discharge the liability in instalments. WPC.No. 7746/2011 :2 : Accordingly, I direct that subject to the remittance of Rs.2 lakhs on or before 31.3.2011 by the petitioner, further proceedings pursuant to Ext.P3 order under Section 14 of the SARFAESI Act shall not be proceeded against. The balance liability due from the petitioner shall be paid by him in 5 equal monthly instalments, the first of which shall be paid on or before 30.4.2011 and the subsequent instalments will be paid on or before the last working day of the every succeeding month. Subject to the payment as above, coercive action will be deferred and in case of default the respondent will be free to continue the proceedings for recovering the lumpsum amount. Writ Petition is disposed of as above. (ANTONY DOMINIC) JUDGE vi/ WPC.No. 7746/2011 :3 :