IN THE HIGH COURT OF KERALA AT ERNAKULAM
WP(C) No. 27530 of 2007(U)
1. M/S GEO FRANC ENTERPRISES,
... Petitioner
2. MR. GEORGE AUGUSTINE, AGED 51 YEARS,
Vs
1. THE CENTRAL BANK OF INDIA,
... Respondent
2. SENIOR MANAGER, CENTRAL BANK OF INDIA,
For Petitioner :SRI.M.RAMESH CHANDER
For Respondent :SRI.P.K.SURESH KUMAR
The Hon'ble MR. Justice ANTONY DOMINIC
Dated :17/09/2007
O R D E R
ANTONY DOMINIC, J.
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W.P.(C) No. 27530 OF 2007 B
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Dated this the 17th September, 2007
J U D G M E N T
The proceedings that led to the filing of the writ
petition are initiated under the provisions of the
Securitisation and Reconstruction of Financial Assets
and Enforcement of Security Interest Act, 2002. It is
now submitted that as per Ext. P18 an amount of
Rs.53.10 lakhs plus interest is due from the
petitioner.
2. Petitioner now submits that coercive action is
being initiated against the mortgaged properties. At
the time of hearing of this writ petition, learned
counsel for the petitioner made an offer to remit one
third of the amount mentioned in Ext. P18. I heard the
learned counsel for the respondent-Bank also.
3. In the facts of this case, I dispose of this
writ petition directing that the petitioner would make
remittance of one third of the amount mentioned in
Ext. P18 within six weeks from today in which case
further proceedings pursuant to Ext. P1 shall not be
WPC No. 27530/07 -2-
continued. Thereafter the petitioner shall make a
representation to the 1st respondent for one time
settlement in which case the representation of the
petitioner shall be considered and orders passed
thereon. Until then all further proceedings pursuant
to Ext. P1 shall be kept in abeyance.
ANTONY DOMINIC
JUDGE
jan/-