IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.R.RAMACHANDRA MENON THURSDAY, THE 20TH MAY 2010 / 30TH VAISAKHA 1932 WP(C).No. 15456 of 2010(F) -------------------------- PETITIONER(S): --------------- D.VIJAYAKUMAR, S/O. DASAN, AGED 51, AJITH BHAVAN, PARAKUZHI, MULAYARA.P.O., THIRUVANANTHAPURAM. BY ADV. SRI.M.RAMASWAMY PILLAI SRI.P.M.JOSEPH RESPONDENT(S): --------------- 1. THE TRIVANDRUM DISTRICT CO-OP. BANK LTD., REPRESENTED BY ITS BRANCH MANAGER, THIRUVANANTHAPURAM. 2. THE AUTHORISED OFFICER, THE TRIVANDRUM DISTRICT CO-OPERATIVE BANK LTD., HEAD OFFICE, EAST FORT, THIRUVANANTHAPURAM. BY SRI.K.G.RADHAKRISHNAN - SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 20/05/2010, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: P.R.RAMACHANDRA MENON, J --------------------------- W.P(C) No. 15456 of 2010-F ---------------------------- Dated this the 20th day of May, 2010. J U D G M E N T The petitioner is challenging the steps taken by the respondent Bank invoking the power and machinery under the SARFAESI Act, so as to realise the amount stated as due under the loan transaction. Many a contention has been raised in the Writ Petition, including that the property is an 'agricultural land'; by virtue of which, it is not liable to be proceeded against as exempted under Section 31(i) of the Act. 2. The learned counsel for the petitioner submits that default was never wilful, but because of some frustrating pecuniary circumstances, which made the petitioner to lose his base and hence is constrained to approach this Court. It is also stated that the petitioner, neither does intend to press any of the grounds raised in the Writ Petition, as to the sustainability of the steps taken by the respondent Bank nor does propose to avail the statutory remedy by approaching the Debt Recovery Tribunal and that the only prayer before this Court is to extend maximum leniency, so as to enable W.P(C) No. 15456 of 2010-F 2 the petitioner to wipe of the entire liability in a phased manner. 3. Heard the learned counsel for the Bank as well, who submits on instructions, that as on date, a total sum of nearly Rs.3.35 lakhs is due from the petitioner. 4. Considering the particular facts and circumstances as above, the petitioner is permitted to clear the liability by way of 'ten' equal monthly instalments; the first of which shall be effected on or before the 15th of June, 2010; to be followed by similar instalments to be effected on or before the 15th of the succeeding months. Subject to this, all further coercive steps being pursued against the petitioner shall be kept in abeyance. It is made clear that, if any default is committed in satisfying the due amount as above, it is open to the respondents, to proceed with appropriate steps in accordance with law, for realisation of the entire amount in a lump sum, from the stage where it stands now. The Writ Petition is disposed of. P.R.RAMACHANDRA MENON JUDGE ab W.P(C) No. 15456 of 2010-F 3