IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE ANTONY DOMINIC TUESDAY, THE 1ST APRIL 2008 / 12TH CHAITHRA 1930 W.P(C).No. 579 of 2008(R) ------------------------------- PETITIONER: -------------- K.J. GEORGE, S/O. K.C.JOSEPH, KANJIKARAYIL, PATHIRAPPALLY P.O., POONKAVU, ALAPPUZHA. BY ADV. SRI.R. AZAD BABU RESPONDENTS: ----------------- 1. THE BRANCH MANAGER, VIJAYA BANK, CHANDRA SQUARE, CULLEN ROAD, ALAPPUZHA-688 011. 2. THE AUTHORIZED OFFICER, VIJAYA BANK, CHANDRA SQUARE, CULLEN ROAD, ALAPPUZHA-688 011. 3. SMT. PARVATHY S., ADVOCATE, ALAPPUZHA-688 013. BY ADV. SRI.B.S. KRISHNAN (SR.) SRI.K.ANAND, SC, VIJAYA BANK SMT.LATHA KRISHNAN, SC, VIJAYA BANK THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 01/04/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: ANTONY DOMINIC, J. = = = = = = = = = = = = = = = = W.P.(C) No. 579 OF 2008 R = = = = = = = = = = = = = = = = Dated this the 1st April, 2008. J U D G M E N T Petitioner is a defaulter to the respondent bank and it is submitted by the bank that they have obtained an order under Section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 for taking possession of the property. 2. Counsel for the petitioner, though has raised several contentions, confines himself for the grant of an instalment facility to discharge the liability and on the submissions so made, I have heard the counsel for the bank also. 3. Having regard to the submissions made by both sides, this writ petition is disposed of directing that the balance due to the bank shall be paid by the petitioner in 5 equal monthly instalments. Of the 5 instalments so granted, towards the first instalment the petitioner should pay an amount of Rs.1 lakh which should be paid W.P.(C) No. 579 OF 2008 -2- on or before 30.4.2008. Subject to such payment proceedings shall stand deferred and in case default is committed the bank will be free to continue the proceedings. It is also directed that the subsequent instalments shall be payable by the petitioner on the 30th of every succeeding month. ANTONY DOMINIC JUDGE jan/-