IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE P.R.RAMACHANDRA MENON FRIDAY, THE 9TH APRIL 2010 / 19TH CHAITHRA 1932 WP(C).No. 12926 of 2010(M) -------------------------- PETITIONER: --------------- M.CHRISTUDAS, S/O.MANAD NADAR, AGED 43 YEARS, VIJILADAS BHAVAN, MULLUVILA, KARINKULAM PUTHIYATHURA P.O., THIRUVANANTHAPURAM DISTRICT. BY ADV. SRI.R.GOPAN RESPONDENTS: --------------- 1. THE AUTHORIZED OFFICER, THIRUVANANTHAPURAM DISTRICT CO-OPERATIVE BANK LTD., HEAD OFFICE, THIRUVANANTHAPURAM, EAST FORT. 2. THE MANAGER, THIRUVANANTHAPURAM DISTRICT CO-OP.BANK LTD., KANJIRAMKULAM BRANCH, NEYYATTINKARA. BY ADV. MR. K.G. RADHAKRISHNAN, SC. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 09/04/2010, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: P.R. RAMACHANDRA MENON, J. .............................................................................. W.P.(C) No.12926 OF 2010 ......................................................................... Dated this the 9th April, 2010 J U D G M E N T The petitioner is aggrieved of the coercive steps taken by the respondent bank under the SARFAESI Act for realisation of the amount stated as due from the petitioner. 2. The learned Counsel for the petitioner submits that the petitioner does not intend to challenge the steps taken by the respondent Bank by approaching the DRT and that the challenge raised in the Writ Petition is also intended to be given a 'go bye'. The learned Counsel for the petitioner seeks for some breathing time to clear the outstanding liability, simultaneously adding that the petitioner is ready willing to deposit Rs.50000/- forthwith. 3. Heard the learned Counsel for the respondent Bank. 4. Considering the facts and circumstances, the petitioner is directed to deposit a sum of Rs.50000/- within two weeks and another sum of Rs.50000/- within two weeks thereafter, on which W.P.(C) No.12926 OF 2010 2 event, further proceedings shall be kept in abeyance. The petitioner shall wipe out the entire liability within five months thereafter. It is made clear that if any default is committed by the petitioner in effecting the payments as above, the respondent Bank will be at liberty to proceed with further coercive steps for realisation of the amount in a lump sum from the stage where it stands now. The Writ Petition is disposed of. P.R. RAMACHANDRA MENON, JUDGE. lk