IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE ANTONY DOMINIC TUESDAY, THE 1ST APRIL 2008 / 12TH CHAITHRA 1930 W.P(C).No. 7926 of 2008(R) --------------------------------- PETITIONER: -------------- THOMAS PAPPACHAN, THEKKEPLAVILA PUTHEN VEEDU, KARAVALOOR P.O., PUNALUR. BY ADV. SRI.MANOJ RAMASWAMY RESPONDENT: --------------- THE CHIEF MANAGER (AUTHORISED OFFICER), STATE BANK OF TRAVANCORE, ANCHAL BRANCH, ANCHAL, KOLLAM DISTRICT. BY ADV. SRI.M.PATHROSE MATTHAI (SR.) SRI.SAJI VARGHESE,sc THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 01/04/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: ANTONY DOMINIC, J. = = = = = = = = = = = = = = = = W.P.(C) No. 7926 OF 2008 R = = = = = = = = = = = = = = = = Dated this the 1st April, 2008. J U D G M E N T Petitioner is a defaulter to the bank and the bank has initiated proceedings initiated under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. It is stated by the Senior Counsel for the bank that the account in question was classified as NPA as early as in 2003 and immediately thereafter the bank had also filed a suit for recovery in 2004. It is stated that since 2003 the only payment made by the petitioner is Rs.50,000/- while the total dues is more than Rs.8 lakhs. The learned counsel also submits that an application under Section 14 made to the C.J.M. court is also pending and that at this belated stage the petitioner cannot seek even an instalment facility which alone is sought for by the counsel for the petitioner. 2. True, the petitioner is a chronic defaulter and the bank has initiated action against him. But, however having regard to the fact W.P.(C) No. 7926 OF 2008 -2- that the petitioner seeks to discharge the liability in view of the defaults committed such relief can be granted only on condition. Accordingly, I direct that if the petitioner pays 50% of the amount due on or before 30th April, 2008 further proceedings shall be deferred. It is also directed that if payment is made as above, the balance amount due will be permitted to be paid in two equal monthly instalments on 30th May and 30th June, 2008. It is clarified that if default is committed by the petitioner in paying any one of the instalments, the bank will be free to initiate action that it has already taken. Writ petition is disposed of as above. ANTONY DOMINIC JUDGE jan/-