IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN TUESDAY, THE 10TH JUNE 2008 / 20TH JYAISHTA 1930 WP(C).No. 14430 of 2008(P) ----------------------------------------- PETITIONER: --------------------- PRASEEDA KUMARI K.S., AGED 40 YEARS, W/O. K.SURESH KUMAR, AMRUTHA, VAKAYUR P.O., KONNI. BY ADV. DR.GEORGE ABRAHAM RESPONDENTS: ------------------------- 1. THE KERALA STATE CO-OPERATIVE BANK LTD., REPRESENTED BY ITS GENERAL MANAGER, THIRUVANANTHAPURAM. 2. AUTHORISED OFFICER, THE KERALA STATE CO-OPERATIVE BANK LTD., REGIONAL OFFICE, THIRUVANANTHAPURAM, NEAR OVER BRIDGE JUNCTION, THIRUVANANTHAPURAM. 3. BRANCH MANAGER, THE KERALA STATE CO-OPERATIVE BANK LTD., PATHANAMTHITTA BRANCH, COLLEGE ROAD, PATHANAMTHITTA. BY ADV. SRI.NAGARAJ NARAYANAN, SC, KS CO-OP.BANK- R1 TO R3 THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 10/06/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: Kss WPC.NO.14430/2008 P APPENDIX PETITIONER'S EXHIBITS: EXT.P1: COPY OF THE NOTICE DTD. 15/02/2008 ISSUED BY THE 3RD RESPONDENT TO THE PETITIONER. EXT.P2: COPY OF REPRESENTATION DTD. 18/03/2008 ALONG WITH REPAYMENT SCHEDULE SUBMITTED BY THE AUTHORIZED REPRESENTATIVE OF PETITIONER TO THE 1ST RESPONDENT. EXT.P3: COPY OF REPRESENTATION DTD. 17/04/2008 ALONG WITH CHEQUE FOR RS.1 LAKH SUBMITTED BY THE AUTHORIZED REPRESENTATIVE OF PETITIONER TO THE 3RD RESPONDENT. EXT.P4: COPY OF SALE NOTICE DTD. 15/04/2008 ISSUED BY THE 2ND RESPONDENT. /TRUE COPY/ P.A.TO JUDGE Kss Thottathil B. Radhakrishnan, J. ================================== W.P.(C)No.14430 of 2008 ================================== Dated this the 10th day of June, 2008. JUDGMENT Petitioner challenges the proceedings under the SARFAESI Act. 2. Having heard the learned counsel for the parties, I am satisfied that there is no jurisdictional error or legal infirmity in the impugned proceedings. Faced with that situation, learned counsel for the petitioner stated that following the interim order granted at the stage of admission, an amount of Rs.10,00,000/- has been paid and the petitioner may be permitted to wipe off the remaining outstandings in instalments. 3. Having heard the learned counsel for the parties in that regard also, it is ordered that the impugned action shall stand deferred if the WPC14430/2008 -:2:- petitioner remits at the rate of Rs.3,00,000/- per month, payable on or before the last working day of every month commencing from June, 2008. If the petitioner fails to remit any of the instalments as aforesaid, the benefit of this judgment will stand recalled automatically and the respondents will be at liberty to forthwith proceed with distress action. Thottathil B.Radhakrishnan, Judge. sl.