IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.R.RAMACHANDRA MENON MONDAY, THE 15TH FEBRUARY 2010 / 26TH MAGHA 1931 WP(C).No. 36065 of 2009(C) ------------------------------------- PETITIONER : ------------------ SMT.SHEEJA SURESH, W/O.SURESH, PUTHENVEETTIL, MANAPPURAM P.O., PALLIPPURAM, CHERTHALA. BY ADVS. MR.SIBY MATHEW MR.PHILIP J.VETTICKATTU MR.B.PREMNATH (E) RESPONDENTS : ---------------------- 1. THE AUTHORISED OFFICER, THE FEDERAL BANK LTD., REGIONAL OFFICE, SREE RAJA RAJESWARI BUILDINGS, CHURCH ROAD, MULLAKKAL, ALAPPUZHA. 2. THE FEDERAL BANK LTD., SREE RAJA RAJESWARI BUILDINGS, CHURCH ROAD, MULLAKKAL, ALAPPUZHA. REP. BY ITS CHIEF MANAGER. R1 & R2 BY ADVS.MR.GEORGE VARGHESE(MANACHIRACKEL), STANDING COUNCIL. MR.P.R.MILTON MR.K.J.CHACKOCHAN THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 15/02/2010, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: JVT P.R.RAMACHANDRA MENON, J --------------------------- W.P(C) No.36065 of 2009-C ---------------------------- Dated this the 15th day of February, 2010. J U D G M E N T The petitioner is aggrieved of the steps taken by the respondent bank invoking the machinery under the SARFAESI Act. 2. The learned counsel for the petitioner submits that the limited prayer now put forth by the petitioner is to provide some breathing time, so as to enable the petitioner to wipe off the entire liability. 3. The learned counsel for the respondent bank submits on instructions that a total sum of about Rs.4.5 lakhs is due from the petitioner, for clearing the outstanding liability. 4. After considering the facts and circumstances, the petitioner is permitted to clear the outstanding liability by way of 'six' equal monthly instalments; the first of which shall be effected on or before 27.2.2010, to be followed by similar instalments to be effected on or before the last working day of the succeeding months. Subject to the above, all further coercive proceedings shall W.P(C) No.36065 of 2009-C 2 be kept in abeyance. It is made clear that, if any default is committed by the petitioner in satisfying the due amount as above, it will open to the bank, to proceed with appropriate steps for realization of the entire due amount in a lump sum. The Writ Petition is disposed of. P.R.RAMACHANDRA MENON JUDGE ab