IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE ANTONY DOMINIC THURSDAY, THE 21ST FEBRUARY 2008 / 2ND PHALGUNA 1929 W.P.(C).No. 5474 of 2008 (B) ------------------------- PETITIONER: ----------- SIDHIK KUTTY V.A., AGED 53 YEARS S/O.LATE SRI.ALIYAR RAWTHER, RESIDING AT VALIYAVEETTIL KOLLAKADAVU P.O. CHENGANNUR, ALAPPUZHA BY ADV. SRI.P.GOPAKUMARAN NAIR SRI.C.S.DIAS SMT.R.BEENA RESPONDENT: ------------ STATE BANK OF INDIA, P.B.NO.9 M.C.ROAD, CHENGANNUR, ALAPPUZHA, REPRESENTED BY ITS CHIEF MANAGER. BY ADV. SRI.K.K. CHANDRAN PILLAI, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 21/02/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: ANTONY DOMINIC, J. = = = = = = = = = = = = = = W.P.(C) No. 5474 OF 2008 - B = = = = = = = = = = = = = = Dated this the 21st February, 2008 J U D G M E N T Ext. P1 order issued under Section 14 of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 is under challenge. Petitioner admits default and when proceedings have reached the stage of an order under Section 14, he cannot be permitted to raise a challenge against the proceedings. 2. When the writ petition has taken up for hearing realising the difficulties in the way of the petitioner, counsel has requested only for an installment facility to discharge the liability. Taking into account the submission made as above and also hearing the counsel for the Bank, who opposes the request, I feel that a last opportunity shall be given to the petitioner to save the property from a distress sale. 3. Accordingly, I direct that the amount due to the bank shall be paid by the petitioner in 6 equal monthly installments the 1st of W.P.(C) No. 5474 OF 2008 - 2 - which will be payable in the 1st week of March 2008 and the subsequent installments will be payable in the 1st week of every succeeding month. Subject to payment as above, proceedings initiated against the petitioner will stand deferred and in case the petitioner commits a default the Bank will be free to continue action without further notice to the petitioner. Writ petition is dispose of as above. ANTONY DOMINIC JUDGE jan/-