IN THE HIGH COURT OF KERALA AT ERNAKULAM
WP(C) No. 7859 of 2008(I)
1. JOHNY JOSEPH, AGED 43,
... Petitioner
Vs
1. VIJAYA BANK, WILLINGTON ISLAND BRANCH,
... Respondent
2. THE REGIONAL MANAGER, VIJAYA BANK,
For Petitioner :SRI.ABRAHAM P.GEORGE
For Respondent : No Appearance
The Hon'ble MR. Justice ANTONY DOMINIC
Dated :11/03/2008
O R D E R
ANTONY DOMINIC, J.
=W.P.(C)=No.=7859 =OF=2008=- =
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I
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Dated this the 11th March, 2008
J U D G M E N T
In this writ petition, the petitioner is facing proceedings under
the Securitisation and Reconstruction of Financial Assets and
Enforcement of Security Interest Act, 2002. It would appear that the
bank has proceeded with the matter and has obtained an order
under Section 14 of the Act and at that stage this writ petition has
been filed. Although several contentions have been raised, the
petitioner does not dispute the liability and only seeks an instalment
facility for paying the amount.
2. I heard the counsel appearing for the respondents also.
3. Having regard to the submissions made, this writ petition is
disposed of directing that the amount due to the bank will be paid
by the petitioner in the manner indicated below:
It is directed that within one month from today the petitioner
shall deposit a sum of Rs.75,000/- with the respondent bank. The
W.P.(C) No. 7859 OF 2008
– 2 –
balance amount shall be paid by the petitioner in 5 equal monthly
instalments, the 1st of which is payable in the first week of May,
2008 and the subsequent instalments will be payable in the first
week of every succeeding month. Subject to payment as above,
further proceedings will stand deferred. In case default is
committed in paying any one of the instalments, the respondents
will be free to continue the action that they have already initiated
without further notice.
ANTONY DOMINIC
JUDGE
jan/-