IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.R.RAMACHANDRA MENON TUESDAY, THE 12TH JANUARY 2010 / 22TH POUSHA 1931 WP(C).No. 34514 of 2009(H) --------------------------------------- PETITIONER(S): ----------------------- PUTHUKKUDI MUMTHAS LAILA, D/O JAMAL, PUTHUKKUDI HOUSE, KAPPUNDA, EDAKKARA (PO), MALAPPURAM (DT). BY ADV. MR.T.K.AJITH KUMAR RESPONDENT(S): ------------------------- 1. NILAMBUR CO-OPERATIVE URBAN BANK LTD., NILAMBUR (PO), MALAPPURAM (DT), REPRESENTED BY ITS SECRETARY. 2. THE AUTHORISED OFFICER, NILAMBUR CO-OPERATIVE URBAN BANK LTD., NILAMBUR (PO), MALAPPURAM (DT). BY ADV. MR.P.J.DEVAPRASANTH THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 12/01/2010, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: tss P.R.RAMACHANDRA MENON, J ----------------------------- W.P(C) No.34514 of 2009 -H ------------------------------ Dated this the 12th day of January, 2010. J U D G M E N T Challenging the steps taken by the respondent bank for realisation of the due amount under the loan transaction availed by the petitioner under the SARFAESI Act, the petitioner has approached this Court by filing this Writ Petition. The coercive steps were intercepted by this Court as per interim order dated 1.2.2009; subject to the condition that the petitioner remitted a sum of Rs.50,000/- on or before 11.12.2009. Subsequently, the petitioner filed I.A.No.16231 of 2009 seeking for extension of time by two weeks from the date of the petition ie. 17.12.2009. It appears that the petitioner did not comply with the direction even within the extended time and now, the petitioner has filed yet another I.A as I.A.No.16382 of 2009 seeking for identical relief as prayed for in the former I.A. 2. The learned counsel appearing for the bank submits that huge amounts are due from the petitioner and his attempt only to protract the matter, evading the payment. W.P(C) No.34514 of 2009 -H 2 3. The learned counsel for the petitioner submits that the petitioner has made some alternate arrangements to raise funds from some other sources and that the entire liability to the bank will be cleared within the shortest possible time. 4. After hearing the submissions made by both the sides, this Court finds that the matter could be disposed of, permitting the petitioner to clear the entire liability by way of 'four' equal monthly instalments. Accordingly, the petitioner is directed to pay the first instalment on or before 31.1.2010; followed by similar instalments to be effected on or before the 25th of the succeeding months. It is also made clear if any default is committed by the petitioner, the respondent bank will be at liberty to proceed against the petitioner for realisation of the entire amount in a lump sum, for the stage where it stands now. The Writ Petition is disposed of accordingly. Sd/- P.R.RAMACHANDRA MENON JUDGE //True Copy// P.A to Judge ab W.P(C) No.34514 of 2009 -H 3