IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE ANTONY DOMINIC FRIDAY, THE 6TH JUNE 2008 / 16TH JYAISHTA 1930 WP(C).No. 16596 of 2008(A) -------------------------- PETITIONER --------------- K.CHANDRAN.K @ RAMACHANDRAN, AGED 33, S/O. MADHAVAN NAIR, KANIYATH HOUSE, P.O. KODANNUR, THRISSUR DT. BY ADV. SRI.C.CHANDRASEKHARAN RESPONDENTS ------------------ 1. STATE BANK OF TRAVANCORE, REGIONAL OFFICE, THRISSUR REP. BY ITS CHIEF MANAGER. 2. STATE BANK OF TRAVANCORE, KODANNUR BRANCH, THRISSUR DISTRICT, REP. BY ITS MANAGER. BY SRI.SAJI VARGHESE, SC FOR SBT THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 06/06/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: ANTONY DOMINIC, J. = = = = = = = = = = = = = = = = = W.P.(C) No. 16596 OF 2008 A = = = = = = = = = = = = = = = = = Dated this the 6th June 2008 J U D G M E N T Proceedings initiated against the petitioner under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 which are resulted in Exts. P2 and P4 are under challenge. Though several contentions have been raised by the counsel for the petitioner, all that he submits is that the petitioner needs to dispose of another property and liquidate the entire liability and for that purpose, he be given 3 months' time to pay off the amount. 2. I heard the learned counsel who entered appearance on behalf of the respondents and she opposes the prayer made. 3. However, having regard to the extent of the liability of the petitioner and also the genuine desire that has been expressed before me, I feel, it is only reasonable that the request made by the petitioner is allowed. 4. Accordingly, the writ petition is disposed of directing that W.P.(C) No. 16596 OF 2008 -2- further proceedings pursuant to Exts. P2 and P4 will be kept in abeyance for a period of 3 months from today. In the meanwhile, it will be the responsibility of the petitioner to liquidate the liability either by disposal of his assets or otherwise. It is clarified that in case the petitioner fails in discharging the liability as above, the bank will be entitled to continue the action that they have already initiated. ANTONY DOMINIC JUDGE jan/-