IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE K.T.SANKARAN TUESDAY, THE 13TH MAY 2008 / 23RD VAISAKHA 1930 WP(C).No. 14375 of 2008(J) PETITIONER: ------------ BALARAJAN T., S/O. LATE KUNHIRAMAN, AGED 55 YEARS, THETTAYAD HOUSE, P.O.KURICHITIL, THALASSERY-670102 BY ADV. SRI.C.P.PEETHAMBARAN RESPONDENTS: ------------- 1. M/S. VIJAYA BANK, KALLAT NEW MAHE, NEW MAHE, REPRESENTED BY ITS BRANCH MANAGER. 2. THE AUTHORISED OFFICER, M/S. VIJAYA BANK, NEW MAHE BRANCH, NEW MAHE. BY STANDING COUNSEL SRI.K.ANAND THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 13/05/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: K.T.SANKARAN, J. -------------------------------------------- W.P.(C) NO. 14375 OF 2008 -------------------------------------------- Dated this the 13th May, 2008 JUDGMENT The prayers in the Writ Petition are the following: “(i) call for records connecting Ext.P1 and Ext.P2 from the respondents and issue a writ of certiorari to quash Ext.P1; (ii) set aside the whole proceedings in Crl.M.P.No.464/2007 referred in Ext.P2 on the file of the Chief Judicial Magistrate Court, Thalassery; (iii) issue a writ of mandamus or any other appropriate writ, direction or order, directing the respondents to extent the benefit of One Time Settlement, and allow the petitioner to pay the actual due amount in 12 monthly instalments; and (iv) grant such other reliefs as this Honourable Court may deem fit and proper in the circumstances of this case.” 2. When the Writ Petition came up for admission, the first respondent entered appearance. It is submitted by the counsel appearing for the petitioner as well as for the first respondent that a breathing time can be given to the petitioner to pay off the amount due to the first respondent Bank. 3. It is agreed by the petitioner that the entire amount due to the W.P.(C) NO.14375 of 2008 :: 2 :: first respondent will be paid by the petitioner within a period of six months. The first respondent agrees. The first instalment of Rs.50,000/- shall be paid within a period of one month from today and the balance amount shall be paid in five equal monthly instalments. It is also agreed that if default is committed in payment of any of the instalments, the proceedings initiated against the petitioner under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 ( for short “the Act”) would be continued. On the basis of the submission made by the counsel for the petitioner and the first respondent, the proceedings initiated against the petitioner under the Act shall be kept in abeyance for a period of six months for facilitating payment in the manner indicated above. The Writ Petition is disposed of as above. (K.T.SANKARAN) Judge ahz/