IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN THURSDAY, THE 28TH FEBRUARY 2008 / 9TH PHALGUNA 1929 WP(C).No. 6978 of 2008(E) ------------------------------------ PETITIONER: ------------------- E.B.VIMALA W/O.MOHANAN, PUTHENTHARA VEEDU, T.V.PURAM, VAIKOM VILLAGE KOTTAYAM DISTRICT. BY ADV. SMT.A.B.SHYMOL RESPONDENTS: ------------------------ 1. THE KOTTAYAM DIST.CO-OP.BANK (MORINING AND EVENING BANK) VAIKKOM BRANCH KOTTAYAM DISTRICT. 2. SPECIAL OFFICER SECURISATION AND RECONSTRUCTION OF FINANCIAL ASSETS, KOTTAYAM CO-OPERATIVE BANK LTD HEAD OFFICE, KOTTAYAM. R2 BY SR. GOVERNMENT PLEADER SMT.ANU SIVARAMAN R1 BY SRI.SUNIL CYRIAC, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 28/02/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: THOTTATHIL B.RADHAKRISHNAN, J. ------------------------------------------- W.P(C).No.6978 OF 2008 ------------------------------------------- Dated this the 28th day of February, 2008 JUDGMENT Having heard the learned counsel for the petitioner and the learned standing counsel for the 1st respondent, it is noticed that impugned proceedings under the SARFAESI Act, 2002 cannot be found fault with. In the peculiar facts and circumstances, the materials on record and having considered the submissions on behalf of the petitioner and the bank, it is directed that the impugned proceedings will be held back to let the petitioner pay off the entire amounts in eight equal monthly instalments payable on or before the 20th of every month commencing from March, 2008. It is further directed that if there is any default in remitting any of the instalments as aforementioned, the benefit of this judgment will stand recalled automatically and the respondent with liberty to proceed with the further distress action. THOTTATHIL B.RADHAKRISHNAN, Judge ps