IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN TUESDAY, THE 7TH OCTOBER 2008 / 15TH ASWINA 1930 WP(C).No. 29263 of 2008(H) --------------------------------------- PETITIONER: ------------------- ANTHRAYOSE XAVIER, S/O ANTHRAYOSE, PANTHRANDIL CHIRA, KAINADI P.O., ALAPPUZHA. BY ADV. SMT.S.MUMTAZ. RESPONDENT: --------------------- STATE BANK OF INDIA, REP. BY THE AUTHORISED OFFICER, ALAPPUZHA BRANCH, ALAPPUZHA DIST. ADV. SRI.K.K.CHANDRAN PILLAI, S.C FOR SBI. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 07/10/2008,THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: prv. THOTTATHIL B. RADHAKRISHNAN, J. = = = = = = = = = = = = = = = = = = = = = = = = W.P.(C).No.29263 of 2008-H = = = = = = = = = = = = = = = = = = = = = = = = Dated this the 7th day of October, 2008. JUDGMENT 1.The petitioner faces distress action under the SARFAESI Act. The transaction is not disputed. The outstandings are not denied. There is no jurisdictional error or legal infirmity in the impugned action. 2.The petitioner, through counsel, gives up all contentions and also the right to move the DRT or other tribunal or court challenging the impugned proceedings and confines the submissions to a request to pay the outstandings in instalments. Having regard to the total amount fixed for recovery, this writ petition is ordered directing that if the petitioner remits an amount of Rs.15,000/- within three weeks and continues to WP(C)29263/08 -: 2 :- remit at the rate of Rs.10,000/- per month payable on or before the last working day of every month commencing from November, 2008, the impugned distress action will be held back and ultimately dropped. On the petitioner remitting the amount of Rs.15,000/-, the bank will consider any request of the petitioner for waiver of any portion of the total outstandings in accordance with law and the commercial wisdom of the bank. If there is default in remitting any of the instalments as aforesaid, the benefits of this judgment will stand recalled and the writ petition will stand dismissed automatically enabling the respondent to forthwith proceed with further distress action without fresh notice to the petitioner. THOTTATHIL B. RADHAKRISHNAN, JUDGE. Sha/071008