IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN MONDAY, THE 25TH JULY 2011 / 3RD SRAVANA 1933 WP(C).No. 17331 of 2011(N) -------------------------- PETITIONER ------------------ MANOJ.S., KANNIMEL VEEDU, MUNDAKKAL EAST, KOLLAM P.O., KOLLAM DISTRICT. BY ADVS. SRI.V.G.ARUN SRI.T.R.HARIKUMAR RESPONDENT(S): ------------------------ 1. THE KOLLAM DISTRICT CO-OPERATIVE BANK LTD., REPRESENTED BY ITS GENERAL MANAGER, KOLLAM- 691 001. 2. THE AUTHORIZED OFFICER/DEPUTY GENERAL MANAGER, KOLLAM DISTRICT CO-OPERATIVE BANK LTD., KOLLAM- 691 001. R1 & 2 BY ADV. SMT.AYSHA YOUSEFF,SC,KOLLAM DISTRICT CO THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 25/07/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: WP(C).No. 17331 of 2011(N) --------------------------------------- APPENDIX --------------- PETITIONER'S EXHIBITS ------------------------------------- EXT.P1. COPY OF THE SALE NOTICE ISSUED BY THE 2ND RESPONDENT, PUBLISHED IN MALAYALA MANORAMA DAILY DATED 8.6.2011. / TRUE COPY / P.A. TO JUDGE VK S. SIRI JAGAN, J. - - - - - - - - - - - - - - - - - - - - - - - W.P.(C)No. 17331 of 2011 - - - - - - - - - - - - - - - - - - - - - - - Dated this the 25th day of July, 2011 J U D G M E N T The petitioner challenges proceedings under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act). The petitioner now submits that, the petitioner only wants consideration of his claim for One Time Settlement. I have heard the learned standing counsel appearing for the respondents also. This court had passed an interim order on 30.06.2011 directing the petitioner to pay an amount of Rs.3 lakhs. It is submitted that the said amount has been paid. In the above circumstances, the writ petition is disposed of as follows: The petitioner shall file an application for the benefit of One Time Settlement Scheme within one week from today. The 1st respondent shall consider the same and pass appropriate orders thereon. The petitioner shall pay the W.P.(C)No. 17331 of 2011 -2- balance amount due as per the order on the application for One Time Settlement, before 15.08.2011 which is the last date for availing of the benefit of One Time Settlement. If the petitioner complies with the above directions, further proceedings under the Act shall be kept in abeyance. However, if the petitioner commits default in complying with the above directions, it would be open to the respondents to continue proceedings as now initiated without having to issue any fresh notice or proceedings in that regard. Sd/- S. SIRI JAGAN JUDGE //True copy// P.A. TO JUDGE shg/