IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE ANTONY DOMINIC THURSDAY, THE 6TH MARCH 2008 / 16TH PHALGUNA 1929 WP(C).No. 6052 of 2008(U) ------------------------- PETITIONER: --------------- JOSEPH JOHN, PARIYARATH HOUSE THAIKKATTUKARA P.O., ALUVA, ERNAKULAM -06. BY ADV. SRI.S.SANTHOSH KUMAR RESPONDENTS: ------------------ 1. THE REGIONAL MANAGER, VIJAYA BANK M.G.ROAD, ERNAKULAM. 2. THE BRANCH MANAGER, VIJAYA BANK M.G.ROAD, ERNAKULAM. BY ADV. SRI.K.ANAND, SC, VIJAYA BANK THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 06/03/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: ANTONY DOMINIC, J. =============== W.P.(C) NO. 6052 OF 2008 U ==================== Dated this the 6th day of March, 2008 J U D G M E N T In this writ petition, proceedings have been initiated against the petitioner under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act. 2. According to the Bank, the liability is about Rs.95 lakhs. When the writ petition came up for orders before this court on 27/2/2008, this court recorded the offer made by the counsel for the petitioner that he will deposit an amount of Rs. 20 lakhs with the respondent Bank. It is submitted by the counsel for the petitioner that already Rs.18 lakhs has been deposited and Rs.2 lakhs is being deposited today. It is also offered that they will make deposit of another Rs.10 lakhs before 31/3/2008. 3. If the petitioner makes remittance of Rs. 30 lakhs as offered by him before 31.3.2008, I feel the petitioner is justified in seeking an instalment facility for paying the balance amount WPC 6052/08 :2 : since he has proved his bonafides in the matter. Accordingly, I dispose of this writ petition directing that if the petitioner remits Rs.30 lakhs before 31/3/2008 as offered by him, he will be permitted to pay the balance amount due to the Bank in four equal monthly instalments, which will be payable on the 30th of every succeeding month starting from April, 2008. It is clarified that in case the petitioner commits default in paying any one of the payments indicated above, the Bank will be free to continue the action that it has already initiated. ANTONY DOMINIC,JUDGE. Rp