IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN MONDAY, THE 7TH JULY 2008 / 16TH ASHADHA 1930 WP(C).No. 20249 of 2008(I) -------------------------- PETITIONER: ------------ SAJI THOMAS, S/O.THOMAS, VITHAYATHIL HOUSE, EDAPPALLY, COCHIN-24. BY ADV. SRI.BABY KURIAKOSE SRI.P.VIJAYAKUMAR RESPONDENTS: ------------- 1. STATE BANK OF TRAVANCORE, EDAPPILLY BRANCH REPRESENTED BY ITS MANAGER. 2. DEPUTY GENERAL MANAGER, STATE BANK OF TRAVANCORE, ZONAL OFFICE, ERNAKULAM. BY SHRI.R.S.KALKURA THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 07/07/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: S.SIRI JAGAN, J. ================== W.P.(C).No.20249 of 2008 ================== Dated this the 7th day of July, 2008 J U D G M E N T The petitioner is a defaulter in repayment of loan amount due from him to the respondents. The respondents have initiated proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, by issuing notice under Section 13(2) of the Act. The petitioner does not now challenge the proceedings as such, but he seeks consideration of his claim for One Time Settlement, for which he has filed Ext.P2 application. 2. This is opposed by the standing counsel for the Bank. He would submit that the total amount due from the petitioner now exceeds Rs.90 lakhs and the petitioner has not paid any amount. The counsel for the petitioner would submit that the petitioner has paid the instalments upto date. Whatever that be, I am not inclined to go into those questions now. I am of opinion that the bank should consider Ext.P2 representation filed by the petitioner if the petitioner pays a substantial portion of the w.p.c.20249/08 2 amount due. Accordingly, this writ petition is disposed of with the following directions: If the petitioner pays an amount of Rs.20 lakhs within one month from today, the 2nd respondent shall consider Ext.P2 application submitted by the petitioner and pass appropriate orders thereon, expeditiously. If the petitioner does not pay the amount of Rs.20 lakhs, it is would not be necessary to consider Ext.P2 at all. If the petitioner pays Rs.20 lakhs, further payment shall be in accordance with the order to be passed by the 2nd respondent on Ext.P2. If the petitioner does not pay the amount of Rs.20 lakhs as directed above, it would be open to the respondents to continue the proceedings as now initiated without having to issue any fresh notice or proceedings in that regard. The petitioner shall be afforded an opportunity of being heard before passing orders on Ext.P2. Sd/- sdk+ S.SIRI JAGAN, JUDGE ///True copy/// P.A. to Judge w.p.c.20249/08 3