IN THE HIGH COURT OF KERALA AT ERNAKULAM
WP(C) No. 31783 of 2007(H)
1. RAJU.T.
... Petitioner
Vs
1. STATE BANK OF TRAVANCORE
... Respondent
2. STATE BANK OF TRAVANCORE
For Petitioner :SRI.K.ABDUL JAWAD
For Respondent :SRI.M.PATHROSE MATTHAI (SR.)
The Hon'ble MR. Justice ANTONY DOMINIC
Dated :13/11/2007
O R D E R
ANTONY DOMINIC, J.
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W.P.(C) No. 31783 OF 2007 H
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Dated this the 13th November, 2007
J U D G M E N T
The proceedings initiated against the petitioner
under the Securitisation and Reconstruction of
Financial Assets and Enforcement of Security Interest
Act, 2002 is under challenge. The petitioner seeks
only an instalment facility for discharging the
liability.
2. It is stated by counsel for the Bank that the
liability of the petitioner has been quantified at Rs.
2,20,000/- and that the petitioner should pay a
considerable amount within one month. In view of the
fact that the petitioner is a sick company and that the
petitioner wants to discharge the liability in
instalments, I am inclined to grant him a reasonable
instalment facility enabling him to discharge the
liability that is due to the Bank.
3. Accordingly, I direct that on or before 25-11-
2007 the petitioner shall remit an amount of
WPC No.31783/07
– 2 –
Rs.75,000/- with the 1st respondent Bank. The balance
due shall also be remitted by the petitioner in two
equal monthly instalments payable on the 15th December
2007 and 15th January, 2008. Subject to the payments as
above further proceedings against the petitioner shall
be deferred. In case the petitioner commits any
default in any one of the instalments, the Bank will be
free to proceed against the petitioner without further
notice.
Writ petition is disposed of as above.
ANTONY DOMINIC
JUDGE
jan/-