Ananda Padmanabhan vs Vijaya Bank on 11 October, 2007

       

  

  

 
 
  IN THE HIGH COURT OF KERALA AT ERNAKULAM

WP(C) No. 29805 of 2007(V)


1. ANANDA PADMANABHAN, S/O. PADMANABHAN,
                      ...  Petitioner

                        Vs



1. VIJAYA BANK,
                       ...       Respondent

2. THE BRANCH MANAGER,

                For Petitioner  :SRI.M.SREEKUMAR

                For Respondent  : No Appearance

The Hon'ble MR. Justice ANTONY DOMINIC

 Dated :11/10/2007

 O R D E R
                       ANTONY DOMINIC, J.
                     ===============
                W.P.(C) NO. 29805 OF 2007 W
               =====================

           Dated this the 11th day of October, 2007

                          J U D G M E N T

For realisation of the dues from the petitioner, the

respondent Bank had initiated proceedings under the

Securitisation and Reconstruction of Financial Assets and

Enforcement of Security Interest Act, 2002 and Ext.P2 is the

order passed under Section 14(2) of the Act. At that stage, this

writ petition has been filed. The petitioner seeks only an

instalment facility to repay the amount.

2. I heard the learned counsel for the Bank also.

3. Having regard to the submissions that are made, I

dispose of this writ petition directing that the petitioner shall

repay the amounts that are due to the Bank in six equal monthly

instalments, commencing from 1st of November 2007. The

remaining instalments will be payable on the first of every

succeeding month.

In the meantime, further proceedings under the Act shall be

WPC 29805/07
: 2 :

deferred and if the petitioner commits default in paying any one

of the instalments, Bank will be entitled to proceed against the

petitioner without further notice.

ANTONY DOMINIC, JUDGE.

Rp