IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HON'BLE THE CHIEF JUSTICE MR.H.L.DATTU & THE HONOURABLE MR. JUSTICE K.M.JOSEPH THURSDAY, THE 3RD APRIL 2008 / 14TH CHAITHRA 1930 WA.No. 754 of 2008 -------------------- AGAINST THE ORDER IN I.A.3504/2008 IN WPC.6036/2008 Dated 13/03/2008 .................... APPELLANTS/RESPONDENT: ---------------------------------------- 1. THE AUTHORISED OFFICER AND CHIEF MANAGER, STATE BANK OF TRAVANCORE, KOWDIAR BRANCH, THIRUVANANTHAPURAM. 2. THE MANAGER, SBT, KOWDIAR BRANCH, THIRUVANANTHAPURAM. BY ADV. SRI.M.PATHROSE MATTHAI (SR.) SRI.SAJI VARGHESE SMT.MARIAM MATHAI RESPONDENT/PETITIONER: ---------------------------------------- M.BALAGOPALAN NAIR, BALU VIHAR, RAJBHAVAN CIRCLE, KOWDIAR P.O., THIRUVANANTHAPURAM - 3. BY AD. SRI. B. KRISHNAMANI. THIS WRIT APPEAL HAVING COME UP FOR ADMISSION ON 03/04/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: H.L. DATTU, C.J. & K.M. JOSEPH, J. - - - - - - - - - - - - - - - - - - - - - - - - - - - - - WRIT APPEAL No.754 of 2008 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Dated this the 3rd day of April, 2008. JUDGMENT H.L.DATTU, CJ, Against the interim order passed by the learned Single Judge in I.A. No.3504 of 2008 in W.P.(C) No.6036 of 2008 dated 13th March, 2008, the respondent in the writ petition has presented this writ appeal. 2. The facts in brief are: Petitioner has committed a default in repayment of the loans taken from the respondent-Bank. Aggrieved by the action of the respondent-Bank in initiating proceedings under the provisions of Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, the petitioner was before this court in W.P.(C) No.6036 of 2008. He had also prayed for an interim order with a specific request that he shall pay the amounts due to the Bank within a particular time frame. Taking into consideration the financial difficulties pleaded by the petitioner, the learned Single Judge has thought it fit to grant the interim order subject to the petitioner remitting 50% of the amount due to the respondent-Bank. This interim order is called in question by the respondent-Bank before this court. 3. The admitted liability of the petitioner is in a sum of Rs.3,28,709/-. During the pendency of this appeal and may be pursuant to the interim order issued by this court, it appears that the petitioner had already deposited Rs.1,45,000/-. The balance amount, that is payable by the petitioner, in our opinion, is a very meager amount. 4. Sri.B.Krishmamani, learned counsel appearing for the petitioner-contesting respondent in this appeal would submit that the petitioner would settle the entire dues of the respondent-Bank on or before 30th of May, 2008. He also submits that the petitioner will not seek for any extension of time and if for W.A.754/2008. 2 any reason the amounts are not paid by the petitioner, the respondent-Bank may be given liberty to proceed against the petitioner from the stage it is interfered by this court. In this regard an affidavit is also filed by the petitioner and the same is taken on record. 5. Taking into consideration the financial difficulties pleaded by the petitioner's learned counsel and also taking into consideration the meager amount that is repayable to the respondent-Bank and also taking into consideration the undertaking given by Sri.B.Krishnamani, learned counsel for the petitioner on instructions, the writ appeal is disposed of as under: Order i) The contesting respondent/petitioner in the writ petition shall pay the balance amount due to the respondent-Bank on or before 31st May, 2008. ii) The contesting respondent/petitioner shall not seek for any extension of time. iii) If, for any reason, the contesting respondent/petitioner commits any default in repaying the amount due to the Bank within the time granted by this court, the Bank is at liberty to proceed against the petitioner from the stage it was interfered by this court. iv) The legal issue raised by the learned counsel for the appellant is kept open and it can be agitated in an appropriate case. Ordered accordingly. H.L. DATTU, CHIEF JUSTICE K.M. JOSEPH, JUDGE sb.