IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN TUESDAY, THE 3RD FEBRUARY 2009 / 14TH MAGHA 1930 WP(C).No. 3155 of 2009(A) ------------------------- PETITIONER(S): --------------- G.USHAKUMARI, W/O.T.C.SATHYAKUMAR AGED 40 YEARS, ARUN NIVAS, PLAVILA, OORUTTAMBALAM P.O.THIRUVANANTHAPURAM. BY ADV. SRI.A.AHZAR RESPONDENT(S): --------------- 1. THE KERALA STATE CO-OPERATIVE BANK LIMITED, REGIONAL OFFICE, OVER BRIDGE JUNCTION, THIRUVANANTHAPURAM-695001.REPRESENTED BY THE AUTHORISED OFFICER. 2. THE KERALA STATE CO-OPERATIVE BANK LIMITED,VAZHUTHACADU BRANCH, THIRUVANANTHAPURAM, REPRESENTED BY ITS MANAGER. BY ADV. SRI.NAGARAJ NARAYANAN,S.C. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 03/02/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: THOTTATHIL B.RADHAKRISHNAN, J. ------------------------------------------- W.P(C).No.3155 OF 2009 ------------------------------------------- Dated this the 3rd day of February, 2009 JUDGMENT 1. The petitioner availed a mortgage loan. On default in repayment, the first respondent issued a notice under Section 13(2) of the SARFAESI Act on 15.10.2007. That was for an amount of Rs.9,46,300/- as on 1.8.2007. No amount was paid. Accordingly, Ext.P2 measure under Section13(4) was taken on 10.12.2008, thereby taking possession of the property. Following that, the petitioner remitted an amount of Rs.70,000/-. The petitioner states that she does not intend to file any proceedings before the Debts Recovery Tribunal under Section 17 of the SARFAESI Act. She also gives up all other contentions except a request to pay the outstandings in instalments and also a request for a direction to the bank to give her such ameliorative concessions as may be available. 2. Taking into consideration the entire amounts outstanding and the fact that Section13(2) notice was issued on 15.10.2007, it WPC.3155/09 Page numbers is directed that if the petitioner deposits an amount of Rs.5,00,000/- on or before 28.3.2009, the impugned distress action will be deferred to provide her an opportunity to pay off the remaining outstandings in five equal monthly instalments, payable on or before the last working day of every month commencing from April, 2009. On payment of the amount of Rs.5,00,000/- as above, the bank will consider any request of the petitioner for reducing the total outstandings and then, the further instalments will be governed by such decision of the bank. However, if there is default in remitting amounts as aforesaid, the benefit of this judgment will stand recalled automatically and distress action will follow. The writ petition is ordered accordingly. Sd/- THOTTATHIL B.RADHAKRISHNAN, Judge. kkb.