IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN WEDNESDAY, THE 15TH OCTOBER 2008 / 23RD ASWINA 1930 WP(C).No. 28788 of 2008(B) -------------------------- PETITIONER(S): --------------- SURESH.V.A, KARIVELIL HOUSE, ARPOOKARA (WEST) P.O., KOTTAYAM 686 008. BY ADV. SMT.K.A.ANGEL TREENA RESPONDENT(S): --------------- 1. THE CHIEF MANAGER (ADVANCES), STATE BANK OF TRAVANCORE, ZONAL OFFICE, KOTTAYAM 686 002. 2. THE BRANCH MANAGER, STATE BANK OF TRAVANCORE, KARIPPOOTHATTU BRANCH, KOTTAYAM-686 008. BY ADV.SRI.R.S.KALKURA, S.C. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 15/10/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: THOTTATHIL B.RADHAKRISHNAN, J. ------------------------------------------- W.P(C).No.28788 OF 2008 & I.A.NO.12932 OF 2008 ------------------------------------------- Dated this the 15th day of October, 2008 JUDGMENT The petitioner availed a loan for housing purpose and also a demand loan from the second respondent and created security interest over 2 cents of land and a residential building thereon. Through Exts.P1 and P1(a), the petitioner demonstrates that he had been paying the loan quite diligently and states that later, his mother fell ill due to cardiac arrest and resultantly, he, being a Shauffeur in the Tourism Department, could not repay the entire outstandings as he has also to support his wife and two children. He, therefore, pleads that he may be granted a protective order from further action under the SARFAESI Act. 2. Having found that there is no jurisdictional error or legal infirmity in the impugned proceedings, including those under Section 14, learned counsel for the petitioner states that his client gives up all contentions and his right to move the Debts Recovery Tribunal or other tribunals, courts or authorities WPC.28788/08 Page numbers against the impugned proceedings and pleads that the petitioner may be granted a last opportunity to pay off the entire outstandings in six months. This obviously is not acceptable to the Bank since SARFAESI Act proceedings were initiated in February, 2008 and the petitioner has paid only an amount of Rs.10,000/- following the interim order dated 26.9.2008, instead of Rs.50,000/- ordered thereby. He has also filed I.A. No.12932/08 seeking enlargement of time to comply with that condition. It is also pointed out that the petitioner had paid a further amount of Rs.25,000/- as per Exts.P1 and P1(a). Obviously, that was before the proceedings were initiated. Having regard to the totality of the facts and circumstances, repelling all other contentions, this writ petition is ordered directing that the impugned distress action shall stand deferred if the petitioner remits the entire outstandings in 5 equal monthly instalments, payable on or before the 5th of every month commencing from November, 2008. However, if there is default in remitting any of the instalments as aforesaid, the WPC.28788/08 Page numbers benefit of this judgment shall stand recalled automatically and distress action shall follow. The writ petition and the I.A. are disposed of accordingly. Sd/- THOTTATHIL B.RADHAKRISHNAN, Judge kkb.