IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE THOTTATHIL B.RADHAKRISHNAN WEDNESDAY, THE 18TH MARCH 2009 / 27TH PHALGUNA 1930 WP(C).No. 8047 of 2009(A) ------------------------- PETITIONER(S): --------------- SASEENDRAN P.N., S/O. NARAYANAN, PARAKKAL, PANAKKACHRA, MUNDAKKAYAM, KOTTAYAM. BY ADV. SMT.S.MUMTAZ RESPONDENT(S): --------------- STATE BANK OF TRAVANCORE, KORUTODU BRANCH, REP. BY THE AUTHORISED OFFICER, MUNDAKKAYAM, KOTTAYAM. BY SC SRI SAJI VARGHESE THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 18/03/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: THOTTATHIL B RADHAKRISHNAN, J ........................................... WP(C).NO. 8047 OF 2009 ............................................ DATED THIS THE 18TH DAY OF MARCH, 2009 JUDGMENT The petitioner availed a loan from the respondent. He states that it was in connection with the marriage of his daughter. The transaction is not disputed. The accruals have grown. The default has led to action under the SARFAESI Act. There is no jurisdictional error or legal infirmity in the impugned proceedings. Taking the total outstandings which have now accrued to be around 2,25,000/-, including securitization expenses, it is ordered that if the petitioner deposits an amount of Rs.30,000/- on or before 28.3.2009, and continues to deposit @ Rs.60,000/- per month payable on or before 28th of every month, commencing from April 2009, the respondent will defer further action and close the transaction on payment of the entire amounts due including accruals. If there is default in payment of any of the instalments as aforesaid, the benefit of this judgment will stand recalled automatically. THOTTATHIL B RADHAKRISHNAN, JUDGE lgk/18/3