IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN FRIDAY, THE 19TH SEPTEMBER 2008 / 28TH BHADRA 1930 WP(C).No. 27399 of 2008(J) ------------------------------------------- PETITIONER: -------------------- B.RADHAKRISHNAN, PANDALUMANCHUVATTIL HOUSE, EAST GATE, VAIKOM.P.O, KOTTAYAM DIST. BY ADV. SRI.J.JULIAN XAVIER SRI.FIROZ K.ROBIN RESPONDENTS: -------------------------- 1. AUTHORIZED OFFICER, STATE BANK OF TRAVANCORE, VAIKOM BRANCH, KERALA. 2. BRANCH MANAGER, STATE BANK OF TRAVANCORE, VAIKOM BRANCH. ADV. SRI.M.PATHROSE MATHAI, (SR.) SRI.SAJI VARGHESE, SC, SBT THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 19/09/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: Kss Thottathil B. Radhakrishnan, J. ================================== W.P.(C)No.27399 of 2008 ================================== Dated this the 19th day of September, 2008. JUDGMENT Petitioner availed a housing loan and committed default in repayment. Recovery steps have been taken for an amount of Rs.2,87,966/- as on 15-7- 2008. The impugned steps have been taken under the provisions of the SARFAESI Act. I do not find any jurisdictional error or legal infirmity in the impugned proceedings. It is pointed out that the petitioner had remitted an amount of Rs.50,000/-, following the interim order dated 9-9-2008. In the light of that, this writ petition is ordered directing that if the petitioner remits at the rate of Rs.40,000/- per month, payable on or before the 15th of every month, commencing from October, 2008 and thereby wipes off all accruals, the impugned proceedings shall be dropped. If the petitioner fails to remit any of the instalments as aforesaid, WPC27399/08 -:2:- 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.