IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE ANTONY DOMINIC WEDNESDAY, THE 2ND APRIL 2008 / 13TH CHAITHRA 1930 WP(C).No. 11308 of 2008(U) -------------------------- PETITIONER: ------------ B.RAVEENDRAN, ANEEZH BHAVAN, THANNIVILA, KATTACHALKUZHY P.O., BALARAMAPURAM, THIRUVANANTHAPURAM DISTRICT. BY ADV. SRI.D.AJITHKUMAR RESPONDENTS: ------------- 1. STATE BANK OF TRAVANCORE, VIZHINJAM BRANCH, THIRUVANANTHAPURAM. 2. THE AUTHORISED OFFICER-CHIEF MANAGER (ADVANCES), STATE BANK OF TRAVANCORE, REGION-II, ZONAL OFFICE, THIRUVANANTHAPURAM. BY STANDING COUNSEL SRI SAJI VARGHESE 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) 11308 of 2008 ------------------------------------- Dated: APRIL 2, 2008 JUDGMENT In this writ petition the petitioner is facing proceedings under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. According to the counsel for the petitioner, the bank is to take possession of the properties tomorrow and this writ petition has been moved today challenging the proceedings. 2. I have heard the counsel for the bank also. 3. Though the delay itself should disentitle the petitioner, still, since the counsel for the respondent has accepted the offer made to deposit a substantial portion of the amount due, I am entertaining this writ petition. 4. The petitioner only seeks an instalment facility to discharge the liability. 5. Having regard to the submissions made, this writ petition is disposed of with the following directions:- WP(C) 11308/08 Page numbers Before 2.30 p.m. tomorrow, the petitioner should pay 50% of the amount due to the respondent bank and subject to such payment, further action will be deferred. If payment is made as above, the balance will be permitted to be paid in three equal monthly instalments payable during the first week of May, 2008, June 2008 and July 2008. It is clarified that in case any default is committed, the bank will be free to continue the action it has already taken. ANTONY DOMINIC, JUDGE mt/-