IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE M.N.KRISHNAN MONDAY, THE 24TH MARCH 2008 / 4TH CHAITHRA 1930 WP(C).No. 9608 of 2008(R) ------------------------- AGAINST THE ORDER DATED IN EA 45/08,EP 23/05 IN LAC.1585/2002 of SUB COURT, VADAKARA .................... PETITIONERS/ RESPONDENTS IN EP 23/05: ----------------------------------------------- 1. MR. V.K.VIJAYAN, AGED 63 YEARS S/O. KELAPPAN, RESIDING AT 'JEEVAS' ICE ROAD, VADAKARA-3 2. V.K.SUSEELA, AGED 48 YEARS W/O. V.K.VIJAYAN, RESIDING AT 'JEEVAS' ICE ROAD, VADAKARA-3 BY ADV. SRI.C.VALSALAN SRI.K.RAKESH ROSHAN SMT.THUSHARA.V RESPONDENT/ PETITIONER IN EP: -------------------------------------- STATE BANK OF TRAVANCORE (ASSOCIATE OF THE STATE BANK OF INDIA) WITH HEAD OFFICE AT THIRUVANANTHAPURAM, BY PRINCIPAL OFFICER, BRANCH MANAGER, VADAKARA BRANCH, (P.O.) VADAKARA, KOZHIKODE DIST. BY ADV. SRI. SATHISH NINAN, SC, SBT THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 24/03/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: M.N.KRISHNAN, J. -------------------------- W.P.(C). NO. 9608 OF 2008 --------------------- Dated this the 24th day of March, 2008 JUDGMENT This writ petition is preferred with a prayer to set aside Ext.P8 order. 2. Heard the counsel appearing for both sides. The learned Standing Counsel for the Bank strongly contends before me that the petitioners are defaulters and no leniency need be shown to them. On the other hand, learned counsel for the petitioners submits that if some breathing time is given, petitioners shall make some payment and try to discharge the liability. They also pray for a chance of one time settlement scheme and to leave it open. After hearing both sides, I dispose of the writ petition with the following directions: (i) The writ petitioners herein are directed to pay a sum of Rs.1,00,000/- on or before 10.4.08. (ii) The petitioners are directed to pay the balance amount in three monthly equal instalments, i.e. on 24.5.08, 24.6.08 and 24.7.08. WPC NO 9608/08 2 (iii) If the petitioners commits default in making payment of the initial instalment of Rs. 1 lakh and thereafter of two consecutive instalments, the Bank will be at liberty to proceed with the sale for realisation of the decree debt. However, I make it clear that this judgment will not stand in the way of the Bank and the judgment debtors for arriving at a figure in the form of OTS, if the Bank agrees for the same. In the light of the above, the sale which has already been taken place shall not be confirmed and be postponed till a default is made by the petitioners. M.N.KRISHNAN, JUDGE vps WPC NO 9608/08 3 WPC NO 9608/08 4