IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN MONDAY, THE 25TH JULY 2011 / 3RD SRAVANA 1933 WP(C).No. 19204 of 2011(A) -------------------------------------- PETITIONER: ------------------- NIYAS P.P, S/O.MOHAMMED, `ANAR', KANNOTHUMCHAL ,THANA, KANNUR- 670 012. BY ADV. SRI.A.MOHAMED MUSTAQUE. RESPONDENTS: ------------------------ 1. THE AUTHORIZED OFFICER, STATE BANK OF TRAVANCORE, KANNUR MAIN BRANCH FORT ROAD, KANNUR- 670 001. 2. THE STATE BANK OF TRAVANCORE, KANNUR MAIN BRANCH, FORT ROAD, KANNUR- 670 001. REPRESENTED BY MANAGER. R1 & R2 BY ADVS. SRI.T.SETHUMADHAVAN, SRI.PUSHPARAJAN KODOTH. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 25/07/2011,THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: W.P.(C). NO.19204/2011-A: APPENDIX PETITIONERS' EXHIBITS: EXT.P.1: COPY OF THE POSSESSION NOTICE PUBLISHED IN MATHRUBHUMI DAILY DTD. 05/07/2011. EXT.P.2: COPY OF THE POSSESSION NOTICE DTD. 05/07/2011 ISSUED BY RESPONDENT BANK. RESPONDENTS' EXHIBITS: NIL. //TRUE COPY// P.A. TO JUDGE. Prv. S. SIRI JAGAN, J. - - - - - - - - - - - - - - - - - - - - - - - W.P.(C)No.19204 of 2011 - - - - - - - - - - - - - - - - - - - - - - - Dated this the 25th day of July, 2011 J U D G M E N T The petitioner challenges proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act). According to the petitioner, the petitioner is prepared to pay the entire amount within four months. The petitioner seeks a direction to the respondents to keep the proceedings under the Act in abeyance, till then. This is opposed by the counsel for the Bank. Having heard both sides, I dispose of this writ petition with a direction to the respondents to give the petitioner four months' time from today to pay the amount. If the petitioner pays the amount, further proceedings under the Act shall be kept in abeyance. However, if the petitioner fails to pay the amount as promised, the respondents would be free to continue proceedings as now initiated without W.P.(C)No.19204 of 2011 -2- having to issue any fresh notice or proceedings in that regard. Sd/- S. SIRI JAGAN JUDGE //True copy// P.A. TO JUDGE shg/