IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE ANTONY DOMINIC FRIDAY, THE 20TH JUNE 2008 / 30TH JYAISHTA 1930 WP(C).No. 18528 of 2008(E) -------------------------- PETITIONER: ------------ ANTONY, S/O.PANIYADIMA, ARTHIYIL HOUSE, MARIANAD, PUTHUKURICHY P.O., THIRUVANANTHAPURAM. BY ADV. SMT.ZEENA S.FERNANDEZ SMT.GEETHA JOB(OZHUKAYIL) SRI.SURESH WILFRED RESPONDENTS: ------------- 1. THE AUTHORISED OFFICER, CHIEF MANAGER (ADVANCES), REGION - III, STATE BANK OF TRAVANCORE, ZONAL OFFICER, SANTHI NAGAR, THIRUVANANTHAPURAM. 2. UNION OF INDIA, REPRESENTED BY ITS SECRETARY, MINISTER OF FINANCE, NEW DELHI. R1 BY STANDING COUNSEL SRI SAJI VARGHESE THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 20/06/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: ANTONY DOMINIC, J. -------------------------------------------------------- W.P.(C) 18528 of 2008 -------------------------------------------------------- Dated: JUNE 20, 2008 JUDGMENT The challenge in this writ petition is against Exts.P3 and P4 orders passed by the Chief Judicial Magistrate, Trivandrum exercising his powers under sect.14 of the Securitization and Re- construction of Financial Assets and Enforcement of Security Interest Act, 2002. 2. Though in the pleadings several contentions have been raised, when the matter was taken up for orders, counsel for the petitioner confines his prayer to an instalment facility to pay off the liability and to avoid distress proceedings against the mortgaged property. 3. I heard the learned standing counsel for the respondent Bank also. 4. Having regard to the submissions made before me, I dispose of this writ petition with the following directions:- That within one week from today the petitioner shall deposit with the 1st respondent an amount of Rs.50,000/- and WP(C) 18528/08 2 subject to such payment, all further proceedings pursuant to Exts.P3 and P4 will stand deferred. It is also directed that the balance amount shall be paid by the petitioner in six equal monthly instalments, the first of which will be paid on or before the 15th of July, 2008 and the subsequent instalments, on or before the 15th of the succeeding months. It is directed that in case the petitioner commits any default in paying the amounts as above, the respondents will be free to continue the proceedings they have already initiated against the petitioner. ANTONY DOMINIC JUDGE mt/-