IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.R.RAMACHANDRA MENON FRIDAY, THE 19TH JUNE 2009 / 29TH JYAISHTA 1931 WP(C).No. 16965 of 2009(M) ----------------------------------------- PETITIONER(S): ------------------------ P.VIMALA, KALEECKKAMADOM, KANICHANALLOOR P.O., MUTTOM, CHEPPAD VILLAGE, ALAPPUZHA. BY ADVS. MR.R.SUNIL KUMAR, SMT.A.SALINI LAL. RESPONDENT(S): --------------------------- 1. ALAPPUZHA DISTRICT CO-OPRRATIVE BANK, PALLIPPAD, REP. BY ITS BRANCH MANAGER. 2. ALAPPUZHA DISTRICT CO-OPERATIVE BANK, PALLIPPAD, REP. BY ITS AUTHORIZED OFFICER. R1 & R2 BY MR. P.K.VIJAYAMOHAN, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 19/06/2009,THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: Kss P.R. RAMACHANDRA MENON, J. ........................................................................ W.P.(C) No. 16965 OF 2009 ......................................................................... Dated this the 19 th June, 2009 J U D G M E N T The petitioner has approached this Court challenging the proceedings stated as taken by the respondents invoking the relevant provisions under the SARFAESI Act. The case of the petitioner is that she had availed a housing loan from the respondents-Bank to an extent of Rs. One lakh. However, because of some adverse circumstances, the petitioner could not prove her words by her deeds and she happened to be a defaulter, which made the respondents to proceed against her with coercive steps. The learned Counsel for the petitioner submits that every earnest effort is being made to clear out the entire liability by arranging funds from different sources . 2. Heard the learned Standing Counsel appearing for the respondents as well. 3. After considering the facts and circumstances, this Court finds it fit and proper to have the matter disposed of, giving appropriate directions to the petitioner as well as the respondents, so as to have the transactions settled once and for W.P.(C) No. 16965 OF 2009 2 all. 4. In the above circumstances , the petitioner is directed to pay a sum of Rs.50,000/- (Rupees fifty thousand only) on or before the 30th of this month and the balance amount shall be paid by way of four equal monthly installments, commencing from the 30th of July, 2009 onwards. Subject to the above, all further coercive steps stated as being pursued against the petitioner shall be kept in abeyance. It is also made clear that if the petitioner commits any default in effecting any of the installments as above, the respondents will be at liberty to proceed against the petitioner and her assets, on the basis of the proceedings from the stage where it stands now, for realisation of the entire liability in a lump sum. The Writ Petition is disposed of. P.R. RAMACHANDRA MENON, JUDGE. lk