IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN MONDAY, THE 6TH APRIL 2009 / 16TH CHAITHRA 1931 WP(C).No. 10110 of 2009(G) -------------------------- PETITIONER(S): --------------- M.A.NISSAR, SATHAR MANZIL, KUMARANELLOOR P.O., KOTTAYAM. BY ADV. SRI.SUNIL JACOB JOSE RESPONDENT(S): --------------- 1. M/S.FEDERAL BANK LTD., REGIONAL OFFICE, ALUVA, REPRESENTED BY ITS CHAIRMAN. 2. SENIOR MANAGER, M/S.FEDERAL BANK LTD., KANJIKUZHY, K.K.ROAD, KOTTAYAM. BY ADV.SRI.MOHAN JACOB GEORGE THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 06/04/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: THOTTATHIL B.RADHAKRISHNAN, J. ------------------------------------------- W.P(C).No.10110 OF 2008 ------------------------------------------- Dated this the 6th day of April, 2009 JUDGMENT 1.The petitioner is a debtor of the first respondent. SARFAESI Act proceedings have been initiated against him. Earlier, he obtained Ext.P6 judgment. In terms of that, he would pay off the entire amounts during the financial year ending 31.3.2009. That was not complied with. Later, this writ petition is filed on the ground that prospective buyer who had earlier agreed to buy the property withdrew his offer. The total outstandings by now itself is in dispute. An interim order was issued on 30.3.2009 to give the petitioner an opportunity to wipe off the outstandings. However, though the petitioner deposited Rupees Two Lakhs, he did not deposit the remaining amount of Rupees Eleven Lakhs covered by that order. May be the petitioner is unable to pay that. However, having regard to the total outstandings, as a last chance, it is directed that if the petitioner pays amounts at the rate of Rupees Five Lakhs per WPC.10110/09 Page numbers month, payable on or before the last working day of every month commencing from April, 2009, the impugned distress action will be deferred and ultimately dropped. However, if there is default in remitting any of the instalments as aforesaid, the benefit of this judgment will stand recalled automatically and distress action will follow. The writ petition is ordered accordingly. Sd/- THOTTATHIL B.RADHAKRISHNAN, Judge. kkb.7/4.