IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.R.RAMACHANDRA MENON FRIDAY, THE 22ND MAY 2009 / 1ST JYAISHTA 1931 WP(C).No. 13862 of 2009(C) -------------------------- PETITIONER: --------------- N.P.RAFI, S/O. N.P.USMAN, AGED 38 YEARS, SADIK MANZIL, PUTHIYAKADAVU, NADAKKAVU POST, CALICUT-673 011. BY ADV. SRI.K.M.FIROZ RESPONDENTS: --------------- 1. THE STATE BANK OF TRAVANCORE, (ASSOCIATE OF STATE BANK OF INDIA), MAVOOR ROAD BRANCH, MANIYATHUKUDY, AFSA BUILDING, MAVOOR ROAD, KOZHIKODE-673 004, REPRESENTED BY AUTHORISED OFFICER/CHIEF MANAGER. 2. THE AUTHORISED OFFICER/CHIEF MANAGER, THE STATE BANK OF TRAVANCORE, STRUDS, ASSETS, RESOLUTION CENTRE, 2ND FLOOR, THAVOT PLACE, KANNUR ROAD, KOZHIKODE-673 001. 3. THE UNION OF INDIA, REPRESENTED BY THE SECRETARY (BANKING & INSURANCE), DEPARTMENT OF ECONOMIC AFFAIRS, MINISTRY OF FINANCE, PARLIAMENT STREET, NEW DELHI-110 001. BY ADV. SRI.K.S. DILEEP, STANDING COUNSEL FOR STATE BANK OF TRAVANCORE THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 22/05/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: P.R. RAMACHANDRA MENON J. ~~~~~~~~~~~~~~~~~~~~~~~ W.P. (C) No. 13862 of 2009 ~~~~~~~~~~~~~~~~~~~~~~~ Dated, this the 22nd day of May, 2009 JUDGMENT The grievance of the petitioner is that, despite the bona fide attempts made from his part to clear of the liability towards the loan secured by him from the respondent Bank, it has not been positively considered by the bank and that they have already proceeded with coercive steps by invoking the relevant provisions under the SARFAESI Act. The learned counsel for the petitioner submits that there is no wilful default or any deliberate negligence on the part of the petitioner in clearing the liability. It is also assured that the entire outstanding liability will be wiped off within no time. 2. Heard the learned standing counsel appearing for the Bank as well. Considering the facts and circumstances, the Writ Petition is disposed of directing the petitioner to remit a sum of Rs.1,00,000/- within a period of one month from today and the balance amount shall be cleared by way of six equal monthly instalments commencing from 30th of June, 2009. It is also made clear that if the petitioner commits any default in clearing the liability, as aforesaid, the respondent Bank will be at liberty to proceed with further steps for realisation of entire liability in lump sum. P. R. RAMACHANDRA MENON, JUDGE kmd