IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.R.RAMACHANDRA MENON WEDNESDAY, THE 27TH MAY 2009 / 6TH JYAISHTA 1931 WP(C).No. 11363 of 2009(M) -------------------------- PETITIONER: --------------- A.N.RAJAN, ANCHANICKAL EDANADU.PO, VALLICHIRA. BY ADV. SRI. P.P.THEJUDHIN ADV. SRI.B.H.MANSOOR RESPONDENTS: --------------- 1. THE AUTHORISED OFFICER, STATE BANK OF INDIA, PALA BANK, PALAI. 2. THE MANAGER, STATE BANK OF INDIA, PALAI. BY ADV. MR. R.S. KALKURA, SC, SBI. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 27/05/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: P.R. RAMACHANDRA MENON, J. ........................................................................ W.P.(C) No. 11363 OF 2009 ......................................................................... Dated this the 27th May, 2009 J U D G M E N T The petitioner has approached this Court challenging the steps taken by the respondent-Bank under the relevant provisions of the SARFAESI Act, which were intercepted by this Court as per the order dated 06.04.2009. Subsequently, as per the order dated 08.04.2009, taking note of the submission made from the part of the Bank that the loan account could be regularised, if a sum of Rs.80,000/- (Rupees eighty thousand only) was paid by the petitioner, he was also directed to appear before the Manager of the Bank and file an undertaking to continue to pay further installments. 2. The learned Standing Counsel for the Bank submits that, but for remitting a sum of Rs.2,000/-, the deficit has not been cleared as on date. The learned counsel for the petitioner submits that he is ready and willing to clear the liability as on date and will continue to pay further installments, as undertaken on 08.04.2009 and that the mistake/confusion occurred only W.P.(C) No. 11363 OF 2009 2 because of the fact that no specific date or time limit was specified by this Court. In the above circumstances, taking note of the subsequent installments and such amounts accrued in the meanwhile after passing the interim order dated 08.04.2009, the petitioner is directed to deposit a sum of Rs. 90,000/- (Rupees ninety thousand only), within a period of one month from today. The petitioner shall also file an undertaking within one month as directed by this Court vide interim order dated 08.04.2009. On such an event, the account would stand regularized and if any default is committed by the petitioner, it is made clear that, he will not be entitled to avail the benefit given by this judgment. All coercive steps taken by the Bank shall be kept in abeyance for a period of one month. The Writ Petition is disposed of as above. P.R. RAMACHANDRA MENON, JUDGE. lk