IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.R.RAMACHANDRA MENON MONDAY, THE 1ST JUNE 2009 / 11TH JYAISHTA 1931 WP(C).No. 14962 of 2009(M) -------------------------- PETITIONER(S): --------------- SIVADASAN NAIR P.M., PUTHIYOTTIL MEETHAL KUZHERIYOOR, KOZHIKODE. BY ADV. SRI.PULIKKOOL ABUBACKER SRI.ZUBAIR PULIKKOOL RESPONDENT(S): --------------- 1. MANAGER, MEPPAYYOOR BRANCH OF STATE BANK OF TRAVANCORE, MEPPAYYOOR, KOZHIKODE DISTRICT. 2. AUTHORIZED OFFICER, STATE BANK OF TRAVANCORE, ZONAL OFFICE, KOZHIKODE. BY GOVERNMENT PLEADER Mr.BIJOY CHANDRAN THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 01/06/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: P.R.RAMACHANDRA MENON, J. ----------------------------------------------- WP(C) NO. 14962 OF 2009 ----------------------------------- Dated this the 1st day of June, 2009 JUDGMENT The petitioner has approached this Court challenging the coercive steps taken by the respondent Bank invoking the provisions under the SARFEASI Act. The grievance of the petitioner is that the actual facts and figures have not been properly adverted to, before taking the hasty steps as above. It is also pointed out that the petitioner turned to be defaulter not because of any deliberate negligence but because of some unforeseen circumstances, when he happened to lose his job and for such other reasons. 2. Learned Counsel for the petitioner submits that the petitioner, notwithstanding that adverse circumstances, has made earnest arrangements to discharge the entire liability. Heard the learned Standing Counsel for the respondent Bank as well; who submits on instructions, that the liability as on 27.08.2003 is about Rs.2,34,000/- and that the amount has gone up to a huge extent. 3. Considering the facts and circumstances, the petitioner is directed to remit a sum of Rs.50,000/- on or before 30.06.2009 and shall WPC NO.14962/2009 2 clear the remaining liability by way of five equal monthly instalments commencing from 30.07.2009 onwards. Coercive steps are ordered to be kept in abeyance till such time. It is made clear that if the petitioner commits any default, the Bank will be at liberty to proceed with further steps for realisation of the entire amount in a lumpsum. (P.R.RAMACHANDRA MENON, JUDGE) dnc