IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE ANTONY DOMINIC TUESDAY, THE 19TH FEBRUARY 2008 / 30TH MAGHA 1929 WP(C).No. 4561 of 2008(R) ------------------------- PETITIONER: ------------ MINI SUMEDHAN, AGED 42, W/O.SUMEDHAN, NELLIKUNNEL HOUSE, WEST CHALAKUDY, THRISSUR DISTRICT. BY ADV. SRI.G.SREEKUMAR (CHELUR) RESPONDENTS: ------------- 1. THE STATE BANK OF INDIA, CHALAKUDY BRANCH, THRISSUR DISTRICT. 2. THE CHIEF MANAGER, STATE BANK OF INDIA, REGIONAL BUSINESS OFFICE, BHARATHAKSHEMAM BUILDING, ST.THOMAS COLLEGE ROAD, THRISSUR-680 005. 3. THE DISTRICT COLLECTOR, COLLECTORATE, AYYANTHOLE, THRISSUR. BY SC FOR BANK SRI. K.K. CHANDRAN PILLAI THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 19/02/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: ANTONY DOMINIC, J. -------------------------- W.P.(C)No.4561 OF 2008 ----------------------------- DATED THIS THE 19TH DAY OF FEBRUARY, 2008 J U D G M E N T Proceedings were initiated against the petitioner under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 and challenging the said proceedings, this writ petition has been filed. When the matter was taken up for hearing, the counsel for the petitioner confines his request to one for an instalment facility. 2. I have heard the Standing Counsel for the bank also. He points out that the auction is scheduled to take place on 28.2.2008 and the total liability is above Rs.3.5 lakhs. 3. Having regard to the submissions that are made by both sides, I dispose of this writ petition directing that 1/4th of the amount due shall be remitted by the petitioner within two weeks from today and subject to remittance as above, the proceedings already initiated shall stand deferred. Thereafter, the balance amount will be paid by the petitioner in five equal monthly instalments, the first of which will be payable on the 15th W.P.(C)No.4561/08 2 of March, 2008 and the subsequent instalments on the 15th of every succeeding month. Needless to say that in case of default, the respondent-bank will be free to continue the proceedings that it has already initiated, without further notice. ANTONY DOMINIC, JUDGE. dsn