IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE ANTONY DOMINIC MONDAY, THE 17TH MARCH 2008 / 27TH PHALGUNA 1929 W.P(C).No. 5548 of 2008(I) --------------------------------- CMP.1062/2007 of C.J.M.,KOLLAM .................................. .................... PETITIONER: -------------- PAUL DANIEL ,S/O.DANIEL FERNANDEZ RESIDING AT THAYYIL HOUSE,KALLUMPURAM SAKTHIKULANGARA, KOLLAM. BY ADV. SRI.K.S.MANU (PUNUKKONNOOR) SRI.P.SREEKUMAR RESPONDENT: --------------- STATE BANK OF TARAVANCORE REPRESENTED BY ITS AUTHORISED OFFICER CHIEF MANAGER, ZONAL OFFICE REGION IV, THIRUVANANTHAPURAM. BY ADV. SRI.SATHISH NINAN SRI.SANTHOSH MATHEW THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 17/03/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: ANTONY DOMINIC, J. = = = = = = = = = = = = = = W.P.(C) No. 5548 OF 2008 - I = = = = = = = = = = = = = = Dated this the 17th day of March, 2008 J U D G M E N T The proceedings initiated against the petitioner under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 is under challenge. Petitioner contends that as per Ext. P1 decree, the amount decreed is much less than the amount for which now proceedings are initiated. 2. This submission of the petitioner is sought to be contradicted by counsel for the bank by submitting that there were two accounts operated by the petitioner and that in Ext.P1 decree there was a mistake in the amount that was decreed. Thereupon, the bank applied for correction of the decree and on its dismissal, the order was challenged before this Court and the writ petition filed by the Bank has been disposed of permitting it to move an appropriate application before the concerned civil court. 3. It is submitted that in pursuance to the aforesaid judgment of this Court the bank is applying for correction of the W.P.(C) No.5548 OF 2008 - 2 - mistake in Ext. P1 decree as well as the judgment rendered by the court. it is also pointed out that the total amount due from the petitioner is Rs.11,45,152 and that if he is willing to pay the amount the bank is ready to close the account on receipt of the said amount. 4. Counsel for the petitioner, is not disputing the amount now indicated by the bank to be due and is only asking for an instalment facility to discharge the liability. Having regard to the submissions made by both sides, this writ petition is disposed of directing that the petitioner will be permitted to pay the aforesaid amount due in 4 equal monthly instalments, the first of which will be payable on or before 31.3.2008 and the subsequent instalments will be payable before the end of every succeeding month. Subject to payment as above, further proceedings will stand deferred and in case the petitioner commits default in paying any one of the instalments, the bank will be free to continue action that it has already initiated. ANTONY DOMINIC W.P.(C) No.5548 OF 2008 - 3 - JUDGE jan/-