IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE ANTONY DOMINIC TUESDAY, THE 26TH AUGUST 2008 / 4TH BHADRA 1930 WP(C).No. 25605 of 2008(W) -------------------------- CMP.3590/2008 of C.J.M.,KOTTAYAM .................... PETITIONER: --------------- SINU SAMUEL, S/O.DANIEL SAMUEL, KUZHIYATH SINU VILLA, PERUMPANACHY POST, KOTTAYAM DISTRICT. BY ADV. SRI.P.KURUVILLA JACOB RESPONDENTS: ----------------- 1. THE AUTHORISED OFFICER, CHIEF MANAGER (ADVANCES), REGION-II, ZONAL OFFICE, STATE BANK OF TRAVANCORE, KOTTAYM. 2. THE BRANCH MANAGER, STATE BANK OF TRAVANCORE, MADAPPALLY BRANCH, KOTTAYAM. 3. R.REMYA, ADVOCATE, KOTTAYAM. BY SRI.SAJI VARGHESE, SC FOR SBT THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 26/08/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: ANTONY DOMINIC, J. =============== W.P.(C) NO. 25605 OF 2008 W ==================== Dated this the 26th day of August, 2008 J U D G M E N T Petitioner against whom proceedings have been initiated by the respondent Bank under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 is challenging the same at a stage when possession of the mortgaged assets are scheduled to be taken over this afternoon. Counsel for the petitioner is mainly contending that out of the defaulted dues, what is actually payable is only Rs.2.2 lakhs. For this purpose, he is mainly relying on Ext.P7, a statement prepared by his own Chartered Accountant. However, it is rightly pointed out on behalf of the respondents that this very certificate was relied on by the petitioner at the time when Ext.P8 judgment was rendered by this court, where, referring to the certificate it has been held that it is not for this court to substitute the view of the Bank in quantifying the dues. Since the issue as far as Ext.P8 is concerned, is concluded against the petitioner, I am not in a position to accept Ext.P8 in this proceedings. 2. Be that as it may, learned counsel for the petitioner seeks a direction to the Bank to keep in abeyance further proceedings by a WPC 25605/08 :2 : reasonable time in order to enable him to raise the funds and liquidate the liability. 3. I heard the counsel for the Bank, who though opposes the same, still, I feel, a reasonable breathing time should be given to the petitioner. 4. Accordingly, I direct that further proceedings against the petitioner be deferred for a period of two weeks from today and that in the meanwhile, it is for the petitioner to liquidate the liability availing of this opportunity. Needless to say that in case of failure to pay as above, it will be open to the Bank to continue the proceedings. Subject to the above, the writ petition is disposed of. ANTONY DOMINIC, JUDGE Rp