IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN THURSDAY, THE 6TH NOVEMBER 2008 / 15TH KARTHIKA 1930 WP(C).No. 32687 of 2008(N) -------------------------- PETITIONER: --------------- ANEESHMON P.S., AGED 28 YRS, S/O.SUKUMARAN, PULICKATHAZHE, AYMANAM KARA, AYMANAM VILLAGE. BY ADV. SRI.LIJI.J.VADAKEDOM RESPONDENTS: --------------- 1. CHIEF MANAGER AND AUTHORISED OFFICER, (UNDER THE SECURITISATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY INTEREST ACT 2003) STATE BANK OF TRAVANCORE REGION-I, ZONAL OFFICE, KOTTAYAM. 2. BRANCH MANAGER,STATE BANK OF TRAVANCORE AYMANAM BRANCH, AYMANAM, KOTTAYAM. SRI.SATHISH NINAN, STANDING COUNSEL FOR SBT THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 06/11/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: THOTTATHIL B. RADHAKRISHNAN, J. ================================ W.P.(C).No.32687 of 2008 - N =============================== Dated this the 6th day of November, 2008. J U D G M E N T The petitioner defaulted in repayment of a loan availed from the respondents. After arguing the matter for quite some time challenging the action taken by the bank under the SARFAESI Act, the learned counsel for the petitioner confined his submission to a request that the petitioner may be granted an opportunity to pay off the entire outstandings in instalments. For that the petitioner forecloses all contentions and also his right to move the DRT or other authority against the impugned proceedings. 2. Having regard to the total amount fixed for recovery and the fact that the notice under Section 13(2) was issued in April, 2008, this writ petition is ordered directing that the impugned distress action will stand deferred if the petitioner pays the entire amounts in five equal monthly instalments payable on or before 25th of every month commencing from November 2008, including accruals if any. If there is any default in any of the W.P.(C).No.32687 of 2008 - N 2 instalments, the benefit of this judgment will stand recalled automatically. If the petitioner makes appropriate application, the bank will consider any request for reducing the total outstanding, if permissible in accordance with law. THOTTATHIL B. RADHAKRISHNAN, JUDGE bkn/-