IN THE HIGH COURT OF KERALA AT ERNAKULAM
WP(C).No. 28214 of 2008(H)
1. GASPER.P.SEBASTIAN, PALLIPARAMBIL HOUSE,
... Petitioner
Vs
1. AUTHORISED OFFICER/CHIEF MANAGER,
... Respondent
2. MANAGER, INDIAN BANK,
For Petitioner :SRI.M.R.SASITH
For Respondent : No Appearance
The Hon'ble MR. Justice THOTTATHIL B.RADHAKRISHNAN
Dated :30/09/2008
O R D E R
THOTTATHIL B. RADHAKRISHNAN, J.
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W.P.(C).No.28214 of 2008-H
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Dated this the 30th day of September, 2008.
JUDGMENT
The petitioner availed a facility from the second
respondent and defaulted in repayment. This led
to recovery proceedings under the SARFAESI Act.
Following the interim order passed on 23-9-208,
petitioner has paid an amount of Rs.45,000/-
instead of Rs.50,000/- fixed in that order. Be
that as it may, having found that there is no
jurisdictional error or legal infirmity in the
impugned proceedings, the petitioner through his
learned counsel gives up all contentions and also
the right to seek other remedies, including from
the DRT under the SARFAESI Act and prays that he
may be given an opportunity to pay the
outstandings in instalments.
Having regard to the total remaining outstandings
WP(C)28214/08 -: 2 :-
for recovery, this writ petition is ordered
directing that if the petitioner remits the
entire outstandings in five equal monthly
instalments payable on or before the last
working day of every month commencing from
October, 2008 and thereby pays off the entire
outstandings by the end of February, 2009, the
impugned distress action will be held back and
ultimately dropped. If there is default in
remitting any of the instalments as aforesaid,
the benefits of this judgment will stand
recalled and the writ petition will stand
dismissed automatically enabling the respondents
to forthwith proceed with further distress
action without further notice to the petitioner.
THOTTATHIL B. RADHAKRISHNAN,
JUDGE.
Sha/031008